MORRIS NOVEMBER 2017
Morris County new listings of single family homes remained basically the same at 399 in November 2017.
Where the big moves were found came in the median sales price climbing year-over-year by 5.8% to $422,000, up from $399,000 from November 2016. In addition, the inventory fell double digits from 2,179 in November 2016 to just 1,767 for November 2017, a 19% drop.
Single Family November 2017
Key Market Metrics 2016 2017 Change
■ New Listings 397 399 + 0.5%
■ Closed Sales 402 382 – 5.0%
■ DOM* 67 65 – 3.0%
■ Median Px $399K $421K + 5.8%
■ % of Px Rec’d 96.8% 97.6% + 0.8%
■ Inventory 2,179 1,767 – 18.9%
■ Months of Inventory 5.2 4.1 – 21.2%
* Days on Market Until Sale
ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency has provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.