Market Update
Morris County
Q3 2026
Residential Property Snapshot
All | Q3 2026
Med. Sales Price
$740k
6% more than in
Q3 2025
Q3 2025
Avg. Days On Market
27
4% fewer than in
Q3 2025
Q3 2025
Closed Sales
1,469
5% more than in
Q3 2025
Q3 2025
Inventory
853
25% more than in
Q3 2025
Q3 2025
Sales Price vs. Closed Sales
- Single Family Homes
- Townhomes & Condos
| Median Close Price | Avg Close Price | Sold Total | |
|---|---|---|---|
| Q3 '22 | $570k | $669k | 1896 |
| Q3 '23 | $625k | $732k | 1359 |
| Q3 '24 | $683k | $797k | 1473 |
| Q3 '25 | $700k | $821k | 1399 |
| Q3 '26 | $740k | $880k | 1469 |
Closed
New
Inventory
Closed Sales by Price
- Single Family Homes
- Townhomes & Condos
| Closed Under $500k | 17.2% |
|---|---|
| Q3 '26 | 253 |
| Q3 '25 | 290 |
| 1YR CHANGE | -13% |
| Closed $500k - $1m | 59.0% |
| Q3 '26 | 867 |
| Q3 '25 | 826 |
| 1YR CHANGE | +5% |
| Closed $1m - $2m | 19.9% |
| Q3 '26 | 293 |
| Q3 '25 | 241 |
| 1YR CHANGE | +22% |
| Closed Over $2m | 3.8% |
| Q3 '26 | 56 |
| Q3 '25 | 42 |
| 1YR CHANGE | +33% |
Median Sales Price vs. Average Days on Market
- Single Family Homes
- Townhomes & Condos
| Avg Days On Market | Median Close Price | |
|---|---|---|
| Q3 '22 | 26 | $570k |
| Q3 '23 | 27 | $625k |
| Q3 '24 | 24 | $683k |
| Q3 '25 | 28 | $700k |
| Q3 '26 | 27 | $740k |
By Year
By Price
Market Data by Year
- Single Family Homes
- Townhomes & Condos
| Q3 2026
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'25 - '26
Inventory
Inventory represents the number of active properties on the market at the end of the quarter
25%
New Listings
New Listings represents the number of properties listed during the quarter.
10%
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.
18%
Closed Sales
5%
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.
-4%
Boonton & Boonton Township
Median
$690k
DOM
40
Sales
35
Inv
25
Chatham Borough
Median
$1.58m
DOM
20
Sales
22
Inv
11
Chatham Borough & Township
Median
$1.6m
DOM
21
Sales
55
Inv
30
Chatham Township
Median
$1.6m
DOM
22
Sales
33
Inv
19
Chester Borough
Median
$870k
DOM
22
Sales
5
Inv
4
Chester Borough & Township
Median
$1.17m
DOM
21
Sales
48
Inv
22
Chester Township
Median
$1.18m
DOM
21
Sales
43
Inv
18
Denville
Median
$800k
DOM
26
Sales
54
Inv
31
East Hanover Township
Median
$880k
DOM
21
Sales
44
Inv
22
Florham Park
Median
$1.23m
DOM
27
Sales
39
Inv
22
Hanover Township
Median
$813k
DOM
17
Sales
28
Inv
11
Harding & New Vernon
Median
$2m
DOM
50
Sales
13
Inv
10
Jefferson Township
Median
$585k
DOM
29
Sales
94
Inv
61
Long Hill Township
Median
$725k
DOM
20
Sales
25
Inv
9
Long Valley
Median
$815k
DOM
28
Sales
45
Inv
29
Madison
Median
$1.18m
DOM
19
Sales
37
Inv
11
Mendham Borough
Median
$1.1m
DOM
26
Sales
19
Inv
6
Mendham Borough & Township
Median
$1.29m
DOM
28
Sales
43
Inv
27
Mendham Township
Median
$1.51m
DOM
30
Sales
24
Inv
21
Morris Plains
Median
$775k
DOM
22
Sales
24
Inv
12
Morris Township
Median
$990k
DOM
25
Sales
75
Inv
36
Morristown
Median
$726k
DOM
27
Sales
35
Inv
24
Mount Arlington
Median
$479k
DOM
35
Sales
25
Inv
14
Mount Olive Township
Median
$645k
DOM
22
Sales
69
Inv
46
Mountain Lakes
Median
$1.25m
DOM
32
Sales
23
Inv
11
Netcong
Median
$555k
DOM
20
Sales
7
Inv
6
Parsippany
Median
$703k
DOM
30
Sales
110
Inv
72
Randolph Township
Median
$869k
DOM
27
Sales
83
Inv
40
Rockaway Township
Median
$580k
DOM
34
Sales
97
Inv
60
Roxbury Township
Median
$650k
DOM
24
Sales
71
Inv
39