Harrington Park, NJ 07640 Real Estate Market Report

ZIP Code: 07640
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The primary market indicator in Harrington Park, NJ (07640) is the median sold price of $899,000, which represents the best single measure of recent transaction value in the neighborhood. Recent market signals show prices are moving up and the market temperature is classified as hot, suggesting sellers have price momentum; this is supported by a median price per square foot of $402.86248561565014 as a representative unit-value for comparables.

Liquidity appears mixed: the reported median days on market is 336 days, which indicates slower sales velocity for the analyzed sample and suggests greater time is required to convert listings into closed sales, even as headline price metrics remain strong. Inventory in the analyzed sample is described as relatively constrained, which may contribute to persistent pricing strength; at the same time, elevated interest costs (current 30-year averages near 6.46%, about 0.25% higher than a year ago) and explicitly noted elevated interest rate pressure may be moderating buyer urgency and pace of transactions. The median market rent of $4,290 and a local property tax rate of 2.286% provide additional context for holding costs and rental comparables when advising owners or investors.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Harrington Park NJ are averaging 6.46%, which is 0.25% higher than the 6.21% average from a year ago.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $899,000 median sold price confirms strong transaction-level valuations; consider anchoring pricing strategies to this representative recent sale when advising sellers.

2. 336 days median days on market points to slower sales velocity and potential pricing friction; sellers should plan for longer listing periods and staged pricing/marketing strategies. moderate caution

3. $402.86248561565014 median price per square foot indicates high per-unit land value in the market—use this metric for granular price checks on comparable floor plans. contextual

4. Market signals show hot market temperature and prices are up, so sellers can leverage momentum, but should be cognizant that elevated borrowing costs (30‑year averages near 6.46%) may limit some buyer segments. elevated interest rate pressure

5. $4,290 median market rent combined with a 2.286% property tax rate frames holding-cost considerations for owners and investors assessing buy‑and‑hold scenarios; incorporate these exact costs into cashflow sensitivity analyses.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.