Author name: Keith LaBrunda - RE/MAX Select

Current Market Overview Morris County’s real estate market is showing significant strength and dynamism as we move further into 2024. The data indicates a robust seller’s market, characterized by quick sales and high demand. Key Data Points Median Sold Price: The median sold price for properties (including single-family homes, condos, townhomes, and apartments) is currently at $640,000, showing a 1.54% increase month-over-month. Days on Market: Properties are selling quickly, with the median number of days on the market standing at 14, a decrease of 6.67% from the previous month. Price per Square Foot: The average price per square foot has […]

Current Market Overview As of March 2024, Morris County’s residential real estate market is experiencing significant upward trends in prices and demand, categorizing it as a Seller’s market. The data indicates robust activity with rapid sales and increasing property values, suggesting a favorable environment for sellers. Key Data Points Median Sold Price: The median sold price for properties (SF + Condo/TH/Apt) in March 2024 was $650,000, marking an 11.11% increase from the previous month. Median Estimated Property Value: The median estimated value of properties slightly decreased by 0.3% from the previous month to $629,700, but has grown by 7.9% over