Morris County
Single Family Homes for April
Key Metrics 2024 2025 Change
New Listings 543 499 – 8.1%
Closed Sales 277 248 – 10.5%
DOM* 27 29 + 7.4%
Median PX $680K $732K + 7.7%
% of PX 106.9% 106.7% – 0.2%
Inventory 667 5607 – 16.0%
Months Supply 2.3 1.8 – 21.7%
*Days on Market
Middlesex County
Single Family Homes for April
Key Metrics 2024 2025 Change
New Listings 559 606 + 8.4%
Closed Sales 327 286 – 12.5%
DOM* 32 40 + 25.0%
Median PX $570K $600K + 5.3%
% PX Rec’d 105.2% 103.6% – 1.5%
Inventory 1,207 1,003 – 16.7%
Month Supply 3.3 2.7 – 18.2%
*Days on Market
Morris County
- New Listings are down 8.1%, which suggests lower seller activity.
- Closed Sales dropped 10.5%, indicating slower transaction volume.
- Days on Market (DOM) increased slightly to 29 days, up 7.4%—suggesting homes are taking longer to sell.
- Median Price grew by 7.7% to $732K, showing strong price appreciation despite lower sales.
- Percentage of Price Received remains high at 106.7%, signaling a competitive market.
- Inventory fell sharply by 16.0%, and Months Supply declined to 1.8 months, a 21.7% drop—indicating tight supply.
Middlesex County
- New Listings increased by 8.4%, showing more sellers entering the market.
- Closed Sales declined by 12.5%, signaling fewer transactions.
- Days on Market jumped to 40 days, up 25.0%, meaning homes are taking notably longer to sell.
- Median Price rose 5.3% to $600K, showing continued price growth.
- Percentage of Price Received dipped to 103.6%, down 1.5%, indicating slightly less aggressive bidding.
- Inventory decreased by 16.7%, and Months Supply shrank to 2.7 months, a 18.2% decline—tightening availability.
Market Outlook
- Low inventory and declining months of supply indicate continued competition for buyers, likely keeping prices elevated.
- Higher DOM in Middlesex could suggest slower movement in that market compared to Morris.
- New Listings in Middlesex increasing could provide more opportunities for buyers, but demand may still keep prices strong.
- Sellers in Morris County still benefit from strong price appreciation, but buyers face challenges due to lower inventory.
Overall, the market remains tight with limited supply, supporting price stability or modest increases moving forward. However, slower sales and rising DOM could indicate buyer hesitancy or affordability concerns.