Is Morris Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Morris Township was a Neutral Market.
Housing Prices in Morris Township, NJ
How much do homes in Morris Township, NJ cost?
Median Sold Price
$775,250
$413/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Morris Township was $775,250 in April 2024, up 3.4% from last year, and the median price per square foot was $413.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $285K | N/A |
2 Bedrooms | $502.5K | $559K | +11.2% |
3 Bedrooms | $682.6K | $776.5K | +13.8% |
4 Bedrooms | $801K | $845K | +5.5% |
5+ Bedrooms | $1.3M | $998.5K | -23.4% |
Summary: Morris Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 23.4%.
Median Sold Price Compared To Nearby Cities
Whippany | $552.5K | $625K | +13.1% |
Morris Plains | $610K | $665K | +9.0% |
Morristown | $723.3K | $750K | +3.7% |
Morris Township | $750K | $775.2K | +3.4% |
Housing Supply in Morris Township, NJ
How many homes are available in Morris Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 77 | +40.0% |
Summary: The Morris Township real estate market had 77 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 24 | 26 | +8.3% |
4 Bedrooms | 17 | 28 | +64.7% |
5+ Bedrooms | 7 | 16 | +128.6% |
Summary: The Morris Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 64.7%, and 5+ bedroom homes increased by 128.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 15 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Morris Township in April 2024, up by 25.0% month-over-month. Of the 15 sold homes, 7% were sold under asking, 7% were sold at asking, and 87% were sold over asking.
Days on Market for Morris Township, NJ
We’re sorry, we don't have information for this market at the moment