Morris County Real Estate Market Update: Home Prices Keep Rising!

If you've been wondering how the Morris County real estate market is doing this spring, you're not alone. As a local New Jersey Realtor, I get asked all the time: "How’s the market?" And here's the answer — it's still incredibly strong, especially for home sellers.

Median Home Prices in Morris County Climb to $710,000

As of April 2025, the median home value in Morris County has surged to $710,000, reflecting an 8.7% year-over-year increase. In a typical year, we expect a 4% rise — so we’re well above that historical trend. This impressive growth signals continued buyer demand despite a tighter market.

Why Morris County Is Still a Seller’s Market

One key reason for rising home values is limited housing inventory. Morris County currently has only 1.43 months of supply, well below the 4-month threshold that defines a balanced market. Anything under that is considered a strong seller’s market — and we are definitely there.

To give you perspective: Pre-Covid, we used to see over 300 homes listed weekly. At the end of this April, there were only 433 active listings for the entire month.

Spring Market Off to a Late Start

This year, the spring housing market got a slightly delayed start. Why? A longer, colder winter and late holidays (Passover and Easter both landed at the end of April) contributed to the slower pace in new listings. While activity has started to pick up, we’re still far from pre-pandemic norms — and that’s keeping home prices elevated.

Local Market Trends: Morristown, Mendham, Randolph & More

Breaking it down by town, here’s how home values are trending:

• Morristown: Up 10.6%

• Mendham: Up 9.3%

• Randolph: Up 5% (with less than 1 month of supply!)

• Chester: Up 5.5%

• Morris Plains: Up 8.8%

Every one of these areas is showing strong seller activity, with low inventory and rising prices. Randolph, in particular, is seeing record-low supply, making it an extremely competitive market.

Thinking of Selling? Let’s Talk Strategy

Even if you're not ready to sell today, it’s never too early to start a conversation. I’ve been meeting with homeowners across Morris County to provide no-pressure home value consultations. We talk about what your home is worth today and what steps you can take to maximize value if you decide to sell in the future.

By planning ahead, you’ll avoid last-minute stress — and be in the best position to get top dollar when the time comes.