Home ValuePros

Market Intelligence · NJ / Madison

Madison, NJ 07940 Housing Market

Homes in Madison, NJ 07940 have a typical value of $1,079,886, up 7.8% over the past year. The median list price stands at $1,085,000, with homes spending a median of 29 days on market.

Updated August 2026Median value$1074K

The median home value in Madison, NJ 07940 is $1.07M as of August 2026, up 8.4% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 07940 range

$988K to $1.16M

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+8.4% over 12 months

Typical home value in 07940 over the last 12 months: $991K in Aug 2025 to $1.07M in Aug 2026 (+8.4%).

Aug 2025$991K

Aug 2026$1.07M

The numbers

What is the 07940 housing market like?

Typical home value

$1.07M

Up8.4%YoY

Median list price

$1.08M

Down12.9%MoM

Days on market

29

Up3.6%MoM

Homes for sale

11

Down8.3%MoM

Price cuts

9.5%

New listings

4

Down60.0%MoM

Sources · Zillow ZHVI (August 2026) / Realtor.com (August 2026) / FRED (September 2026)

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The comparison

How do 07940 home prices compare?

  • 07940$1,074,213
  • Madison$1,074,213
  • New Jersey$576,681
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Madison: 1 ZIPs; New Jersey: 547 ZIPs; United States: 26,265 ZIPs).

Context

Madison's housing market reflects modest but steady appreciation. The median list price of $1,085,000 aligns closely with the typical home value of $1,079,886, suggesting realistic seller expectations. With 11 homes currently for sale and 4 new listings added recently, inventory remains tight. The median time of 29 days on market indicates homes are moving at a reasonable pace. If you're considering a sale, the strong year-over-year gain provides solid footing, though limited inventory means buyers have options.

Monthly payment

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20% · $214,843

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