June 2025 Morris County Real Estate Market Snapshot

The Morris County real estate market remains dynamic heading into the second half of 2025. This month’s market snapshot focuses exclusively on single-family homes—excluding condos, townhouses, and multifamily properties. Here's what the data reveals for June 2025 and what it means for buyers and sellers.

Morris County Home Values Up 5.8%

The estimated market value for single-family homes in Morris County has climbed to $724,980, a 5.8% year-over-year increase. Inventory remains tight with only 557 active listings and just 1.8 months of supply, reinforcing a strong seller’s market.

Morristown NJ Real Estate Update

• Estimated Value: $953,900

• Year-over-Year Growth: 6.9%

• Active Listings: 32

• Months of Supply: < 2 months

Morristown continues to be a highly competitive market with limited inventory and rising values.

Mendham NJ Market Showing Inventory Shifts

• Estimated Value: Over $1,000,000

• Year-over-Year Growth: 1.1%

• Active Listings: 25

• Months of Supply: 2.7

While still a seller’s market, Mendham Township and Borough are seeing inventory begin to build. This may signal a shift toward a more balanced market.

Randolph NJ Housing Market: One of the Tightest

• Estimated Value: $855,780

• Year-over-Year Growth: 5.5%

• Active Listings: 15

• Months of Supply: < 1 month

With extremely limited inventory, Randolph remains one of the hottest markets in Morris County.

Chester NJ Home Prices Surge Nearly 16%

• Estimated Value: Over $1,000,000

• Year-over-Year Growth: 15.9%

• Active Listings: Very Low (only 9 homes sold in June)

• Months of Supply: Just over 3

Chester Borough and Township saw an impressive price surge, but the small sample size may skew the data. Inventory here is also starting to build—something to watch as the year progresses.

Morris Plains NJ: Steady Growth & Low Supply

• Estimated Value: $744,960

• Year-over-Year Growth: 3.7%

• Active Listings: 15

• Months of Supply: 1.36

Morris Plains remains a stable, seller-favored market with consistent appreciation and low housing supply.

What This Means for Buyers & Sellers in Morris County

• Sellers: Most towns are still in your favor, but watch inventory in Chester and Mendham.

• Buyers: Be prepared to act quickly in towns like Randolph and Morristown, where inventory remains scarce.

• Investors: Rising values across Morris County make this an attractive region for long-term investment.

Need a Custom Market Report?

If you have questions about your local market or are curious about real estate in any part of New Jersey, feel free to reach out. I can also connect you with top agents across the country if you're buying or selling outside the area.