Morris Township NJ Real Estate Market Update SEPTEMBER 2015


The numbers for Morris Township are somewhat of a mixed bag for SEPTEMBER 2015:

  • Similar to the previous month, the rolling 12 month sales volume increased for this category by twenty-three (23) units or (7%) – Last year: September 2013 thru September 2014  (323) homes sold as compared to the current period: September 2014 thru September 2015 with (346) homes sold.

  • The September year-to-date closed sales volume decreased slightly by five (5) units or (2%) as compared to last year at this same time with (249) units as compared to the current period at (244) units.

  • The monthly volume for the number of sales occurring last September with forty-one (41) homes sold, as compared to this September with twenty-nine (29) homes sold is down by twelve (12) units or (29%).

  • The volume of Pending Sales (Under Contract) as of the last day of September 2015 is down six (6) units or (21%) as compared to last year at this same time.

  • 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 September is at 6.1 months, which is up slightly from 5.8 months or (5%) from this same time last year.

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!

The local Morris Township was a bit less busy in SEPTEMBER as compared to the prior month. The monthly and the YTD volumes were both down by (29%) and (2%) respectively. On the bright side, the rolling 12 month YTD volume was up modestly by (7%). Pending sales were off by (21%) from this same time last year which could have a short term negative effect for the upcoming quarter. Inventory was nearly unchanged at 6.1 months worth of supply vs 5.8 months last year at this same time bringing the market as close as it gets to being “balanced”.

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 SEPTEMBER in 2015.  Also shown below is a graph illustrating the amount of homes that have SOLD Year-to-Date through SEPTEMBER over the past 5 years, followed by another graph showing the year to year comparison for homes SOLD in the month of SEPTEMBER over the past 5 years.



Comparison of Homes SOLD in Morris Township YTD through SEPTEMBER 2011 to 2015



Year to Year Comparison of Homes SOLD in Morris Township in SEPTEMBER 2011 to 2015


Sales from Current Month


(Double click on spreadsheet for an enlarged view)


Prior Market Updates

Morris Township NJ Real Estate Market Updates



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.

There are no comments yet. Be the first and leave a response!

Leave a Reply

Wanting to leave an <em>phasis on your comment?