Morris Township NJ Real Estate Market Update DECEMBER 2014

The numbers for Morris Township are up in 3 out of 4 categories for DECEMBER 2014:

  • The rolling 12 month sales volume has increased modestly by twenty-seven (27) units or (8%) – Last year: December 2012 thru December 2013  (317) homes sold as compared to the current period: December 2013 thru December 2014 with (344) homes sold.

  • The December year-to-date numbers increased by the same margin as above making 2014 the highest sales volume by far in at least the last five years.

  • The monthly volume for the number of sales occurring last December with twenty (20) homes sold, as compared  to this December with thirty-two (32) homes sold is up sharply by twelve (12) units or (60%), making this the best December in at least the past five years.

  • The volume of Pending Sales (Under Contract) as of the last day of December 2014 is running (30%) lower at fourteen (14) units as compared to last year at this same time at twenty (20) units.  This decrease indicates that the Morris Township market will most likely cool down a bit, at least for the near term.

  •  The supply of available inventory (the time it would take to sell all of the homes currently on the market) as of the end of December is at 3.3 months, which is up from 3.0 months from this same time last year.  Basically this indicates that the local market has a bit more inventory for Buyers to choose from, however it is a long way off from being considered a “balanced” market, which will give a decided edge to Buyers for the time being.

Note: A “balanced” market is considered to have a 6 month supply. Anything below that amount would be considered a “low” inventory and thus less than balanced. This market condition typically favors Sellers.  Anything above a 6 month supply would result in a “high” inventory of homes on the market and typically favors Buyers.


Read below to find out the very latest information on your local Morris Township NJ Real Estate market!

2014 was another very strong year for the Morris Township market. In fact, this was the third straight year of consecutive growth in sales volume with an 8% increase over 2013. The year also finished strong with the busiest December we have seen by far in at least the past five years, up 12 units (60%) over December 2013.  The number of homes Pending or Under Contract have dropped off somewhat (30%) which may slow things down a bit going into January at least for the short term.  In addition, the inventory continues to remain at an extremely low level giving the edge to Sellers and helping to keep prices steady.

Interest rates continue to remain near record low levels.  There has rarely been a time when both prices AND interest rates were so low. Combine these two factors with the general state of the economy slowly improving, (although NJ is lagging behind it’s neighboring states and there is still a considerable volume of foreclosure properties that have yet to wind their way through the process) the housing market is poised to get itself back on some solid footing and closer to a more complete recovery in 2015.

Look below to see the individual homes that sold in Morris Township NJ for the month of DECEMBER in 2014.  Also shown below is a graph illustrating the amount of homes that have SOLD Year-to-Date through DECEMBER over the past 5 years, followed by another graph showing the year to year comparison for homes SOLD in the month of DECEMBER over the past 5 years.



Year to Year Comparison of Homes SOLD in Morris Township YTD through DECEMBER 2010 to 2014



Year to Year Comparison of Homes SOLD in Morris Township YTD through DECEMBER 2010 to 2014




Sales from Current Month



 (Double click on spreadsheet for an enlarged view)



Sales from Prior Months






Morris_Township_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014 Part 1Morris_Township_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_Part_2








(Double click on spreadsheet for an enlarged view)



All Listings Currently FOR SALE in Morris Township NJ



Other interesting articles on Morris Township NJ

There are many factors that make up the differences in local real estate markets, even from town to town and especially in a small state such as New Jersey. This is why it is important for both buyers and sellers to obtain the latest “local” market data before they make any real estate decisions.


For more information on Morris Township NJ including the schools, follow this link:

 All you need to know about Morris Township NJ 

For more information on Morris Township NJ Real Estate, call me direct at (908) 267-2465, or email me at and I will be happy to discuss your specific real estate requirements.


How to find Listings on your own:

For listings or information on Morris Township NJ or any of the surrounding towns in  Morris County including Morristown, Madison, the Chathams, the Chesters, the Mendhams and Long Valley, the Somerset County towns of Basking RidgeBedminster, Bernardsville, Peapack Gladstone and Far Hills, along with the Hunterdon County towns of Lebanon and Tewksbury Townships, simply use the search tool located on the right side of this page.

All listings are updated throughout the day so be sure to come back often for the most current information.  If you are unable to find what you are looking for using the search function on this website, or you are looking for a home that is unique with specific features, feel free to contact me direct and let me know exactly what they are.  My colleagues and I preview all kinds of properties each week and will be sure to identify just what you are looking for.  In addition, my office often features “exclusive” listings that are not released to the public that might be of interest to you as well.  I will be glad to answer all of your questions and arrange to show you the homes of your choice at a time convenient to your schedule.

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