Morris County, NJ Real Estate Market Update – April 2024
Hi everyone, I’m Jennifer Blanchard, your REALTOR® with Berkshire Hathaway HomeServices Fox & Roach. Here’s your April 2024 Morris County Real Estate market update.
My team covers Morris, Union, Somerset and Hunterdon Counties. We represent buyers, sellers, landlords, tenants and investors.
Current Market Snapshot
Low Inventory:
Morris County has a highly competitive market with only 1.41 months supply of inventory. This means more buyers are competing for fewer homes. Over the last 12 months, the Months Supply of Inventory has decreased by 0.7%, further intensifying the market.
Strong List to Sold Price Percentage:
The List to Sold Price percentage is at 105.7%. Sellers are receiving, on average, 5.7% above their asking price, maximizing their profits.
Quick Sales:
Homes in Morris County are selling swiftly, with a median of just 14 days on the market. This highlights the high demand for homes in our area.
Solid Home Prices:
The median sold price in Morris County is currently $640,000, indicating a stable market with strong home prices.
Conclusion
Whether you’re buying or selling, these market statistics are crucial to keep in mind as you navigate the real estate market in Morris County. Every town is a little different – need something more specific? Don’t hesitate to reach out!
Call Us Today!
Thinking about buying or selling a home in Morris County? Contact us today to get started on your real estate journey. Whether you’re selling or buying, renting or investing, we are here to provide expert guidance and support.
Thanks for reading, and stay tuned for more market updates. Subscribe to our YouTube Channel for the latest news and tips on the Morris County real estate market. Happy house hunting!
Need a lender? Brian Woltman is a great choice!
