Comprehensive market data and analysis• Updated Dec 2025
0.0 months of supply
Low inventory favors sellers with higher prices and faster sales.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | 1 | 1 | 2 |
| 1-2 acres | - | - | - | - |
| 2-5 acres | - | - | - | - |
| 5-10 acres | - | - | - | - |
| 10-20 acres | - | - | - | - |
| 20-50 acres | - | - | - | - |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 0 | 1 | 1 | 2 |
Acreage buckets
The median price for land in Summit, New Jersey is currently $5.8M per acre. For a typical parcel, the median sale price is $2.1M. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $820K while premium lots reached $3.4M.
The 3-month absorption rate in Summit, New Jersey is 100.0%. The 12-month rate is 100.0%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
Land in Summit, New Jersey averages $5.8M per acre. The median price per acre is $5.8M, which may be more representative of typical transactions. Most parcels sold are around 13,068 sq ft.
The current absorption rate in Summit, New Jersey is 100.0% (3-month basis), indicating strong demand.
Over the past 12 months, Summit, New Jersey saw 2 properties sold, totaling $4.2M in sales volume. In just the last 3 months, 1 properties changed hands.
The median land price in Summit, New Jersey stands at $2.1M. This translates to roughly $5.8M per acre for the typical parcel size.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
