$6,876 Closing Credit*
$579,000
2 Beds
•2 Full Baths, 1 Partial
Listing Office: WEICHERT REALTORS
Is Morris Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Morris Township has remained a Seller's Market.
Key Takeaway
Morris Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morris Township, NJ
How much do homes in Morris Township, NJ cost?
Median Sold Price
$835,000
$406/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$60,000(+7.7%)
Key Takeaway
Homes in Morris Township have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Morris Township was $835,000 in November 2024, up 7.7% from last year, and the median price per square foot was $406.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $297.5K | $336.5K | +13.1% |
| 2 Bedrooms | $550K | $592K | +7.6% |
| 3 Bedrooms | $745K | $820K | +10.1% |
| 4 Bedrooms | $842.5K | $920.5K | +9.3% |
| 5+ Bedrooms | $1.1M | $1.2M | +11.8% |
Summary: Morris Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Whippany | $590K | $667.5K | +13.1% |
| Morris Plains | $649.9K | $721K | +10.9% |
| Morristown | $750K | $822K | +9.6% |
| Morris Township | $775K | $835K | +7.7% |
Housing Supply in Morris Township, NJ
How many homes are available in Morris Township, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 83 | 63 | -24.1% |
Summary: The Morris Township real estate market had 63 homes for sale in November 2024, a 24.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 18 | 15 | -16.7% |
| 3 Bedrooms | 31 | 21 | -32.3% |
| 4 Bedrooms | 20 | 17 | -15.0% |
| 5+ Bedrooms | 12 | 10 | -16.7% |
Summary: The Morris Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 32.3%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 19 | -20.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morris Township, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Morris Township in November 2024, down by 20.8% month-over-month. Of the 19 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% 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
