Market Update
Morris County
Q3 2025
Residential Property Snapshot
All | Q3 2025
- Med. Sales Price
- $700k
- 3% more than in
Q3 2024 - Avg. Days On Market
- 28
- 17% more than in
Q3 2024 - Closed Sales
- 1,390
- 6% fewer than in
Q3 2024 - Inventory
- 685
- 10% more than in
Q3 2024
Sales Price vs. Closed Sales
- Single Family Homes
- Townhomes & Condos
| Sold Total | Median Close Price | Avg Close Price | |
|---|---|---|---|
| Q3 '21 | 2180 | $530k | $620k |
| Q3 '22 | 1897 | $570k | $669k |
| Q3 '23 | 1359 | $625k | $732k |
| Q3 '24 | 1476 | $683k | $797k |
| Q3 '25 | 1390 | $700k | $822k |
Closed
New
Inventory
Closed Sales by Price
- Single Family Homes
- Townhomes & Condos
| Closed Under $500k | 20.7% |
|---|---|
| Q3 '25 | 288 |
| Q3 '24 | 320 |
| 1YR CHANGE | -10% |
| Closed $500k - $1m | 59.0% |
| Q3 '25 | 820 |
| Q3 '24 | 876 |
| 1YR CHANGE | -6% |
| Closed $1m - $2m | 17.3% |
| Q3 '25 | 240 |
| Q3 '24 | 242 |
| 1YR CHANGE | -1% |
| Closed Over $2m | 3.0% |
| Q3 '25 | 42 |
| Q3 '24 | 38 |
| 1YR CHANGE | +11% |
Median Sales Price vs. Average Days on Market
- Single Family Homes
- Townhomes & Condos
| Median Close Price | Avg Days On Market | |
|---|---|---|
| Q3 '21 | $530k | 31 |
| Q3 '22 | $570k | 26 |
| Q3 '23 | $625k | 27 |
| Q3 '24 | $683k | 24 |
| Q3 '25 | $700k | 28 |
By Year
By Price
Market Data by Year
- Single Family Homes
- Townhomes & Condos
| Q3 2025
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'24 - '25
Inventory
Inventory represents the number of active properties on the market at the end of the quarter
10%
New Listings
New Listings represents the number of properties listed during the quarter.
5%
Months Supply of Inventory
Months' supply of inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
15%
Closed Sales
-6%
Average Days On Market
Average Days on Market represents the number of days that a property has been listed until a seller has accepted an offer and signed a contract.
17%
Boonton & Boonton Township
- Median
- $700k
- DOM
- 23
- Sales
- 28
- Inv
- 21
Chatham Borough
- Median
- $1.24m
- DOM
- 19
- Sales
- 19
- Inv
- 8
Chatham Borough & Township
- Median
- $1.38m
- DOM
- 35
- Sales
- 55
- Inv
- 24
Chatham Township
- Median
- $1.6m
- DOM
- 27
- Sales
- 35
- Inv
- 16
Chester Borough
- Median
- $760k
- DOM
- 19
- Sales
- 2
- Inv
- 2
Chester Borough & Township
- Median
- $900k
- DOM
- 35
- Sales
- 29
- Inv
- 16
Chester Township
- Median
- $900k
- DOM
- 36
- Sales
- 27
- Inv
- 14
Denville
- Median
- $685k
- DOM
- 26
- Sales
- 63
- Inv
- 37
East Hanover Township
- Median
- $877k
- DOM
- 20
- Sales
- 28
- Inv
- 13
Florham Park
- Median
- $975k
- DOM
- 25
- Sales
- 37
- Inv
- 11
Hanover Township
- Median
- $778k
- DOM
- 24
- Sales
- 38
- Inv
- 17
Harding & New Vernon
- Median
- $1.25m
- DOM
- 43
- Sales
- 9
- Inv
- 4
Long Hill Township
- Median
- $760k
- DOM
- 25
- Sales
- 33
- Inv
- 8
Long Valley
- Median
- $706k
- DOM
- 31
- Sales
- 66
- Inv
- 26
Madison
- Median
- $1.34m
- DOM
- 21
- Sales
- 41
- Inv
- 11
Mendham Borough
- Median
- $762k
- DOM
- 38
- Sales
- 15
- Inv
- 8
Mendham Borough & Township
- Median
- $1.28m
- DOM
- 54
- Sales
- 42
- Inv
- 33
Mendham Township
- Median
- $1.35m
- DOM
- 63
- Sales
- 27
- Inv
- 25
Morris Plains
- Median
- $785k
- DOM
- 17
- Sales
- 20
- Inv
- 9
Morris Township
- Median
- $980k
- DOM
- 21
- Sales
- 64
- Inv
- 30
Morristown
- Median
- $663k
- DOM
- 18
- Sales
- 28
- Inv
- 17
Mount Olive Township
- Median
- $615k
- DOM
- 30
- Sales
- 77
- Inv
- 34
Mountain Lakes
- Median
- $1.38m
- DOM
- 17
- Sales
- 23
- Inv
- 7
Parsippany
- Median
- $655k
- DOM
- 24
- Sales
- 111
- Inv
- 53
Randolph Township
- Median
- $821k
- DOM
- 26
- Sales
- 78
- Inv
- 28
Rockaway Township
- Median
- $553k
- DOM
- 28
- Sales
- 89
- Inv
- 47