Morris County Home Prices Continue to Rise

The estimated market value in Morris County now sits at $741,000, up 6.2% year-over-year. Active listings increased from 464 in August to 539 in September, giving buyers a bit more to choose from.

The months of supply rose to 1.76, up from 1.55 still firmly within seller’s market territory (anything under 4 months qualifies). In fact, anything under 2 months indicates a strong seller’s market, and that’s where we remain.

Morristown Real Estate Market: Steady and Strong

In Morristown, the median home value reached $965,000, up 6.2% year-over-year, consistent with county trends. With 41 active listings and just over 2 months of inventory, Morristown continues to show healthy demand and limited supply, keeping sellers in a strong position.

Mendham Home Values Outperform the Market

Mendham continues to shine, with an average market value of $1,073,000, up 9.5% year-over-year. There are 22 active listings and about 2.42 months of supply a number to watch as inventory slowly builds. Still, it remains a seller-favored market.

Randolph Market Tightens Further

In Randolph, the average home value rose 7.8% to $866,000, outperforming the broader county. With just 18 active listings, inventory remains tight just over one month of supply, signaling intense buyer competition and limited availability.

Chester Leads the Pack with Double-Digit Growth

Chester recorded the strongest growth this month, with home values up 13% year-over-year to $1,054,540. Only 9 active listings are currently available, equating to just one month of inventory, a clear sign that demand continues to outpace supply.

Morris Plains: Consistent and Competitive

Morris Plains posted an 8% year-over-year increase, with an average home value of $762,000. There are 16 active listings, translating to 1.6 months of supply, reinforcing that the area remains highly competitive for buyers.

What This Means for Buyers and Sellers

Across Morristown, Mendham, Randolph, Chester, and Morris Plains, inventory remains tight, prices are rising, and the market continues to favor sellers.

If you’re thinking about selling whether it’s now, next year, or even two years from now, it’s never too early to start the conversation. Understanding your home’s current market value is the first step to making confident decisions..