NORTH CENTRAL NEW JERSEY
MARKET REPORT
2023 FIRST QUARTER
FIRST QUARTER MARKET REPORT 2023
About the Data
• This study includes all residential home sales in the towns indicated as reported by Garden State Multiple Service LLC (GSMLS), including condominiums and townhomes. It does not include land sales, commercial sales or rentals.
• Year to Date “Overview” sales data is as reported to GSMLS on 4/10/23.
• When considering Supply and Demand, it is generally accepted that a supply of six months represents a balanced market. Below six months tends to be a seller’s market, with prices rising, and above six months generally indicates a buyer’s market with downward pressure on pricing.
• Average Sales per month is calculated on the number of sales for the current year.
• The relatively tiny amount of transaction data in some categories can lead to wild swings that do not necessarily point to a trend in one direction or another.
The narrative around our region’s residential real estate market during the first quarter of 2023 remains largely unchanged from our last quarterly report. Historically low inventory amid continued strong buyer demand is causing prices to remain stable, especially in the popular under $2 million price range.
Inventory Challenges Remain
Our regional results indicate that overall, new listings taken are down 27% versus Q1 2022, and 50% compared with the same period in pre-pandemic 2019. Standing inventory is down by 8% versus the same period last year and a staggering 76% compared to Q1 2019. These numbers are driven by the under $1 million price range, where the largest number of transactions occur. Inventory in the $1 million to $2 million range actually increased despite fewer new listings coming to market, and in the $2 million to $3 million range both new listings and inventory are on the rise. Though the over $3 million market represents only a small number of transactions, it nevertheless seems to be holding steady compared with the same period last year.
Values Hold
We continue to see strong buyer activity relative to the available supply, with correctly priced homes in popular price ranges generally finding a buyer quickly, though at a somewhat more moderate pace than we saw during the pandemic frenzy. The result is that home prices have remained stable in most cases or even increased in some cases, which is significant considering the strong price appreciation of the preceding two years.
Because trends vary greatly from town to town, and even within the same town, this report contains aggregated county-level data in addition to granular results for 39 municipalities in our region. With that in mind, I invite you to reach out to one of our knowledgeable sales agents who would be pleased to explain exactly what is happening in your neighborhood and arrange for you to receive regular updates via email.
John Turpin, President
COMMENTARY
www.TurpinRealtors.com/Reports
Source: GSMLS and TrendGraphix © 2023 Turpin Realtors
CONTENTS
REGIONAL RESULTS | MARCH 2023
Aggregated results for all of Hunterdon, Morris and Somerset counties, plus the following towns in Essex and Union counties: Berkeley Heights, Essex Fells, Livingston, Maplewood, Millburn, Montclair, Mountainside, New Providence, Scotch Plains, Summit, South Orange, West Orange and Westfield.
FIRST QUARTER MARKET REPORT 2023
Bedminster
Berkeley Heights
Bernards Twp.
Bernardsville
Boonton Town
Boonton Twp.
Bridgewater Twp.
Califon
Chatham Boro
Chatham Twp.
Chester Boro
Chester Twp.
Clinton Town
Clinton Twp.
Far Hills
Florham Park
Harding Twp.
Lebanon Boro
Lebanon Twp.
Long Hill Twp.
Madison
Maplewood
Mendham Boro
Mendham Twp.
Millburn
Morris Plains
Morris Twp.
Morristown
Mountain Lakes
New Providence
Peapack-Gladstone
Randolph Twp.
Readington Twp.
Summit
Tewksbury Twp.
Warren
Washington Twp.
Watchung
Westfield
Cover image: 1 Oxford Lane, Harding Twp
REGIONAL RESULTS | MARCH 2023
2,800 1,993 2,316 1,921 1,411 2019 2020 2021 2022 2023 0 1000 2000 3000 NEW LISTINGS TAKEN - MONTH OF MARCH Last 5 Years
ESSEX*, HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES Residential Properties - All Prices Source: GSMLS 4/27/23 & Trendgraphix © 2023 Turpin Realtors Subject to Errors and Omissions This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp Union County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village Twp, Summit City, West Orange, Westfield Twp 5,511 4,187 2,072 1,415 1,305 2019 2020 2021 2022 2023 0 2000 4000 6000 CURRENT INVENTORY - MONTH OF MARCH Last 5 Years
REGIONAL RESULTS | MARCH 2023
ESSEX*,
Residential Properties - All Prices
* This report is inclusive of results from select municipalities in Essex and Union counties as detailed on the following page.
1,624 1,268 1,857 1,530 1,177 2019 2020 2021 2022 2023 0 500 1000 1500 2000 PENDED SALES (UNITS) - MONTH OF MARCH Last 5 Years $505,400 $512,400 $608,600 $638,000 $675,100 2019 2020 2021 2022 2023 0 200000 400000 600000 MEDIAN LIST PRICE, HOMES PENDED - MONTH OF MARCH Last 5 Years 5.10 3.30 1.10 0.90 1.10 2019 2020 2021 2022 2023 0 2 4 6 Months MONTHS SUPPLY, HOMES PENDED - MONTH OF MARCH Last 5 Years
HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES
Source: GSMLS 4/27/23 & Trendgraphix © 2023 Turpin Realtors Subject to Errors and Omissions
REGIONAL RESULTS | MARCH 2023
ESSEX*, HUNTERDON, MORRIS, SOMERSET & UNION* COUNTIES
Residential Properties - Activity by Price
ALL PRICES
UNDER $1 MILLION
$1,000,000 - $1,999,999 MILLION
$2,000,000 - $2,999,999 MILLION
Source: GSMLS 4/27/23 & Trendgraphix © 2023 Turpin Realtors Subject to Errors and Omissions
% Change March 2023 March 2022 Homes For Sale New Listing Homes Sold Contracts Pended Days on Market 1305 1415 -8% 1411 1921 -27% 1177 1530 -23% 844 1123 -25% 42 33 27%
% Change March 2023 March 2022 Homes For Sale New Listing Homes Sold Contracts Pended Days on Market 891 1059 -16% 1089 1592 -32% 955 968 -1% 727 968 -25% 41 32 28%
% Change March 2023 March 2022 Homes For Sale New Listing Homes Sold Contracts Pended Days on Market 288 235 23% 247 270 -9% 188 222 -15% 91 132 -31% 48 40 20%
% Change March 2023 March 2022 Homes For Sale New Listing Homes Sold Contracts Pended Days on Market 71 63 13% 55 42 31% 30 29 3% 22 19 16% 23 28 -18%
% Change March 2023 March 2022 Homes For Sale New Listing Homes Sold Contracts Pended Days on Market 55 58 -5% 20 17 18% 4 4 0% 4 4 0% 104 41 154%
$3 MILLION+
This report is inclusive of results from select municipalities in Essex and Union counties as follows: Essex County: Berkeley Heights Twp, Mountainside Boro, New Providence Boro, Scotch Plains Twp Union County: Essex Fells Twp, Livingston Twp, Maplewood Twp, Millburn Twp, Montclair Twp, South Orange Village Twp, Summit City, West Orange, Westfield Twp
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
BEDMINSTER
Source:
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 37.9% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 18 29 4 5 0 2 1 1 8 6.00 1.33 2 1.33 1.50 4 0.33 12.00 ç 1 0.00 ∞ QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022
Subject to Errors and Omissions Overview 20% $0 $250,000 $500,000 $750,000 $1,000,000 0 100 200 300 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BEDMINSTER ç 100% ç HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 23 37 -37.8% $17,771,900 $26,741,300 -33.5% $545,000 $405,000 34.6% $772,691 $722,737 6.9% 51 60 -15% 93.7% 95.8% -2.2% % CHANGE NC
Sales by Price
BERKELEY HEIGHTS
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 28% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 18 25 4 2 0 0 0 0 11 6.00 1.83 1 1.33 0.75 0 0.00 N/A ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC Subject to Errors and Omissions ç $0 $250,000 $500,000 $750,000 $1,000,000 0 50 100 150 200 250 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BERKELEY HEIGHTS 100% HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 22 27 -18.5% $15,590,757 $18,515,900 -15.8% $586,500 $710,000 -17.4% $708,670 $685,774 3.3% 42 35 20% 101.1% 103.6% -2.4% % CHANGE
Sales by Price
BERNARDS TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 25% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 45 60 9 15 12 15.00 0.80 11 3.00 3.67 0 0.00 N/A ç 1 0.33 3.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 Subject to Errors and Omissions $0 $250,000 $500,000 $750,000 $1,000,000 0 200 400 600 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BERNARDS TOWNSHIP % CHANGE % CHANGE 1 0 0 0 QTD 2023 QTD 2022 QTD 2023 QTD 2022 40% ç ç ç HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 55 75 -26.7% $38,638,476 $52,807,424 -26.8% $549,000 $701,000 -21.7% $702,517 $704,099 -0.2% 35 33 6.1% 100.9% 102.6% -1.6% % CHANGE NC
BERNARDSVILLE
FIRST QUARTER MARKET REPORT 2023 10 Year Market History
Sales by Price
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 12 14 8 4 1 1 1 1 5 4.00 1.25 5 2.67 1.88 3 0.33 9.00 3 0.33 9.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 100% ç Subject to Errors and Omissions 14.3% ç $0 $500,000 $1,000,000 $1,500,000 0 50 100 150 200 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BERNARDSVILLE 0% 0% NC HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 22 20 10% $24,430,350 $22,243,750 9.8% $819,750 $778,500 5.3% $1,110,470 $1,112,187 -0.2% 61 56 8.9% 89.4% 99% -9.7% % CHANGE NC
BOONTON TOWN
FIRST QUARTER MARKET REPORT 2023 10 Year Market History
Sales by Price
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors Subject to Errors and Omissions $0 $250,000 $500,000 $750,000 $1,000,000 0 25 50 75 100 125 2014 2015 2016 2017* 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BOONTON TOWN Overview
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE 12 12 0 0 0 0 0 0 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC 0% INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 4 4.00 1.00 0 0.00 N/A 0 0.00 N/A 0 0.00 N/A NC NC HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 12 12 0% $6,714,400 $5,980,410 12.3% $550,000 $449,450 22.4% $559,533 $498,367 12.3% 59 24 145.8% 102.7% 107.1% -4.1% % CHANGE NC
BOONTON TWP
FIRST QUARTER MARKET REPORT 2023 10 Year Market History
Sales by Price
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors Subject to Errors and Omissions $0 $250,000 $500,000 $750,000 $1,000,000 0 20 40 60 80 2014 2015 2016 2017* 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BOONTON TWP
Overview
Supply and Demand (as of March 31, 2023) INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 4 3.33 1.20 2 1.00 2.00 0 0.00 N/A HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 13 11 18.2% $9,873,600 $7,498,777 31.7% $615,000 $531,000 15.8% $759,507 $681,707 11.4% 73 43 69.8% 96.8% 100.8% -4% % CHANGE $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE 10 8 3 3 0 0 0 0 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC 0% 25% ç NC NC 1 0.00 ∞
Sales by Price
BRIDGEWATER TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 72 99 3 2 0 0 0 0 32 24.00 1.33 12 1.00 12.00 0 0.00 N/A 1 0.00 ∞ QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 50% ç NC Subject to Errors and Omissions 27.3% ç NC $0 $200,000 $400,000 $600,000 $800,000 0 200 400 600 800 2014 2015 2016 2017* 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR BRIDGEWATER HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 75 101 -25.7% $42,563,928 $54,673,736 -22.1% $532,500 $512,500 3.9% $567,519 $541,324 4.8% 36 31 16.1% 100.3% 102.6% -2.3% % CHANGE
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
CALIFON
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 2 1 0 0 0 0 0 0 0 0.67 N/A 0 0.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC NC Subject to Errors and Omissions 100% ç $0 $200,000 $400,000 $600,000 0 10 20 30 40 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CALIFON HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 2 1 100% $972,500 $285,000 241.2% $486,250 $285,000 70.6% $486,250 $285,000 70.6% 89 134 -33.6% 99.2% 95.3% 4.1% % CHANGE 1 0.00 ∞
Sales by Price
CHATHAM BORO
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 26.7% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 11 15 5 4 1 0 0 0 5 3.67 1.36 3 1.67 1.80 0 0.00 N/A ç 0 0.33 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC 25% ç Subject to Errors and Omissions ç $0 $500,000 $1,000,000 $1,500,000 0 50 100 150 200 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CHATHAM BORO HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 17 19 -10.5% $17,916,000 $15,425,776 16.1% $860,000 $720,000 19.4% $1,053,882 $811,882 29.8% 16 49 -67.3% 102.2% 105.4% -3.1% % CHANGE
Sales by Price
CHATHAM TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 36.4% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 14 22 12 15 9 7 0 0 4 4.67 0.86 4 4.00 1.00 ç 7 3.00 2.33 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 20% ç Subject to Errors and Omissions 22 25 20 32 27 36 25 45 44 35 187 $1,142,434$1,228,233 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 0 50 100 150 200 250 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CHATHAM TOWNSHIP 28.6% ç HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 35 44 -20.5% $47,670,756 $53,555,668 -11% $1,375,000 $1,055,000 30.3% $1,362,021 $1,217,174 11.9% 41 52 -21.2% 100.3% 101.4% -1% % CHANGE 3 0.00 ∞ NC
Sales by Price
CHESTER BORO
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 2 2 0 0 0 0 0 0 3 0.67 4.50 0 0.00 N/A 0 0.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC 0% Subject to Errors and Omissions $0 $250,000 $500,000 $750,000 $1,000,000 0 10 20 30 40 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CHESTER BORO HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 2 2 0% $1,237,000 $1,180,000 4.8% $618,500 $590,000 4.8% $618,500 $590,000 4.8% 10 17 -41.2% 110.5% 101% 9.5% % CHANGE NC NC
Sales by Price
CHESTER TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix © 2023 Turpin Realtors
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 75% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 21 12 2 6 0 0 0 0 4 7.00 0.57 6 0.67 9.00 2 0.00 ∞ QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç NC Subject to Errors and Omissions ç 66.7% 4 0.00 ∞ $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 0 50 100 150 200 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CHESTER TOWNSHIP HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 23 18 27.8% $17,469,900 $16,429,500 6.3% $675,000 $815,500 -17.2% $759,560 $912,750 -16.8% 47 89 -47.2% 99.2% 100.3% -1% % CHANGE NC
Sales by Price
CLINTON TOWN
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 22.2% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 11 9 0 0 0 0 0 0 0 3.67 N/A 0 0.00 N/A 0 0.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC NC ç Subject to Errors and Omissions $0 $200,000 $400,000 $600,000 0 20 40 60 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CLINTON TOWN © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 11 9 22.2% $4,951,747 $4,278,000 15.7% $435,000 $400,000 8.8% $450,158 $475,333 -5.3% 49 28 75% 98.7% 102.9% -4.1% % CHANGE
Sales by Price
CLINTON TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 29.4% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 24 34 0 0 0 0 0 0 8 8.00 1.00 0 0.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC Subject to Errors and Omissions ç $0 $200,000 $400,000 $600,000 $800,000 0 50 100 150 200 250 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR CLINTON TOWNSHIP © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 24 34 -29.4% $11,969,277 $18,119,436 -33.9% $464,500 $560,000 -17.1% $498,719 $532,924 -6.4% 58 36 61.1% 101.4% 102.2% -0.8% % CHANGE NC 3 0.00 ∞
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
FAR HILLS
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 100% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 0 3 1 1 0 0.00 N/A 0 0.33 N/A 2 0.00 ∞ 2 0.33 6.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 Subject to Errors and Omissions 1 0 0 2 ç $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 0 5 10 15 20 25 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR FAR HILLS 0% 100% ç ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 2 6 -66.7% $3,125,000 $13,785,000 -77.3% $1,562,500 $1,187,500 31.6% $1,562,500 $2,297,500 -32% 53 98 -45.9% 117.9% 91.9% 28.4% % CHANGE NC
Sales by Price
FLORHAM PARK
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 13.3% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 17 15 3 9 0 0 10 5.67 1.76 4 1.00 4.00 0 0.00 N/A ç 1 0.67 1.50 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç NC Subject to Errors and Omissions 66.7% 2 0 $0 $500,000 $1,000,000 $1,500,000 0 50 100 150 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR FLORHAM PARK ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 22 24 -8.3% $19,598,132 $24,915,392 -21.3% $696,276 $895,000 -22.2% $890,824 $1,038,141 -14.2% 48 43 11.6% 99.1% 99.9% -0.8% % CHANGE
Sales by Price
HARDING TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 33.3% $1,000,000-$1,999,999 % CHANGE 54.5% $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 4 3 5 11 3 0 1 2 2 1.33 1.50 4 1.67 2.40 3 1.00 3.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 Subject to Errors and Omissions 4 0.33 12.00 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 0 25 50 75 100 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR HARDING 50% ç ç ç ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 13 16 -18.8% $21,730,000 $23,882,500 -9% $1,700,000 $1,382,500 23% $1,671,538 $1,492,656 12% 54 77 -29.9% 101.4% 96.3% 5.3% % CHANGE
Sales by Price
LEBANON BORO
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 58.3% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 5 12 0 0 0 0 0 0 4 1.67 2.40 0 0.00 N/A 0 0.00 N/A ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC NC Subject to Errors and Omissions $0 $100,000 $200,000 $300,000 $400,000 $500,000 0 10 20 30 40 50 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR LEBANON BORO © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 5 12 -58.3% $1,423,000 $4,201,000 -66.1% $262,000 $297,500 -11.9% $284,600 $350,083 -18.7% 8 28 -71.4% 104.8% 101.8% 3% % CHANGE
Sales by Price
LEBANON TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 35.3% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 11 17 1 0 0 0 0 0 12 3.67 3.27 0 0.00 N/A ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC 2 0.33 6.00 0 0.00 N/A Subject to Errors and Omissions $0 $200,000 $400,000 $600,000 0 25 50 75 100 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR LEBANON TOWNSHIP ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 12 17 -29.4% $5,689,000 $7,402,050 -23.1% $492,500 $465,000 5.9% $474,083 $435,414 8.9% 64 45 42.2% 98.4% 98.7% -0.3% % CHANGE
Sales by Price
LONG HILL TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 38.1% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 13 21 2 1 0 0 0 0 4 4.33 0.92 1 0.67 1.50 0 0.00 N/A ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC Subject to Errors and Omissions ç 100% $0 $250,000 $500,000 $750,000 $1,000,000 0 50 100 150 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR LONG HILL TOWNSHIP © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 15 22 -31.8% $10,313,000 $13,962,500 -26.1% $630,000 $610,000 3.3% $687,533 $634,659 8.3% 42 33 27.3% 101.1% 103.5% -2.2% % CHANGE
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
MADISON
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 28.6% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 40% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 15 21 6 10 3 3 0 1 8 5.00 1.60 5 2.00 2.50 ç 4 1.00 4.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç Subject to Errors and Omissions 100% 0% $0 $500,000 $1,000,000 $1,500,000 0 50 100 150 200 250 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MADISON ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 24 35 -31.4% $25,575,900 $38,207,900 -33.1% $851,500 $890,000 -4.3% $1,065,662 $1,091,654 -2.4% 34 24 41.7% 100.2% 99.3% 0.9% % CHANGE NC 1 0.00 ∞
Sales by Price
MAPLEWOOD
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 3.4% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 75% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 28 29 4 16 0 0 0 0 26 9.33 2.79 2 1.33 1.50 0 0.00 N/A ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç NC Subject to Errors and Omissions 0 0.00 N/A $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 0 100 200 300 400 500 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MAPLEWOOD NC © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 32 45 -28.9% $23,615,698 $36,239,092 -34.8% $677,750 $725,000 -6.5% $737,990 $805,313 -8.4% 37 28 32.1% 103.4% 113.4% -8.8% % CHANGE
Sales by Price
MENDHAM BORO
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 20% $1,000,000-$1,999,999 % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 8 10 1 2 6 2.67 2.25 2 0.33 6.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 Subject to Errors and Omissions ç ç 1 0.00 ∞ 2 0.00 ∞ $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 0 25 50 75 100 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MENDHAM BORO 50% © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 9 12 -25% $6,579,000 $8,336,000 -21.1% $590,000 $715,000 -17.5% $731,000 $694,666 5.2% 108 24 350% 102.8% 100% 2.8% % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE 0 0 0 0 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC
Sales by Price
MENDHAM TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 0% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 50% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 10 10 5 10 1 2 1 2 2 3.33 0.60 8 1.67 4.80 2 0.33 6.00 2 0.33 6.00 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 50% 50% Subject to Errors and Omissions ç ç ç $0 $500,000 $1,000,000 $1,500,000 $2,000,000 0 50 100 150 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MENDHAM TOWNSHIP © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 17 24 -29.2% $20,509,500 $33,072,400 -38% $900,000 $1,147,500 -21.6% $1,206,441 $1,378,016 -12.5% 66 52 26.9% 97.6% 100.2% -2.6% % CHANGE NC
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
MILLBURN
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 50% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 9 18 9 29 8 8 3 3 1 3.00 0.33 13 3.00 4.33 ç 9 2.67 3.38 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 0% Subject to Errors and Omissions 13 1.00 13.00 ç 0% $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 0 100 200 300 400 500 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MILLBURN 69% © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 29 58 -50% $50,719,176 $82,354,512 -38.4% $1,495,000 $1,301,504 14.9% $1,748,937 $1,419,905 23.2% 22 35 -37.1% 102.3% 102.2% 0.1% % CHANGE NC NC
Sales by Price
MORRIS PLAINS
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 47.1% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 25 17 0 0 0 0 0 0 18 8.33 2.16 0 0.00 N/A 0 0.00 N/A ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC Subject to Errors and Omissions $0 $200,000 $400,000 $600,000 $800,000 0 25 50 75 100 125 2014 2015 2016 2017* 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MORRIS PLAINS © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 25 17 47.1% $16,017,160 $9,953,053 60.9% $665,000 $570,000 16.7% $640,686 $585,473 9.4% 22 26 -15.4% 100.2% 101.9% -1.7% % CHANGE NC
Sales by Price
MORRIS TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 54.7% $1,000,000-$1,999,999 % CHANGE 12.5% $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 34 75 9 8 0 1 14 11.33 1.24 5 3.00 1.67 ç 0 0.33 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 Subject to Errors and Omissions ç 0 0.00 N/A 1 0 $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 0 100 200 300 400 500 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MORRIS TOWNSHIP ç ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 44 84 -47.6% $38,156,388 $60,179,668 -36.6% $750,000 $677,400 10.7% $867,190 $716,424 21.0% 30 35 -14.3% 98.7% 102.2% -3.4% % CHANGE 100%
Sales by Price
MORRISTOWN
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 39.5% $1,000,000-$1,999,999 % CHANGE 50% $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 23 38 2 4 0 0 9 7.67 1.17 0 0.67 N/A 1 0.00 ∞ ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 0 0 NC ç $0 $200,000 $400,000 $600,000 $800,000 0 50 100 150 200 250 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MORRISTOWN © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 25 42 -40.5% $15,080,000 $26,131,940 -42.3% $559,000 $547,500 2.1% $603,200 $622,189 -3.1% 42 39 7.7% 99.8% 100.4% -0.6% % CHANGE NC
Sales by Price
MOUNTAIN LAKES
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 80% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 9 5 4 3 1 0 0 0 4 3.00 1.33 1 1.33 0.75 ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 2 0.33 6.00 0 0.00 N/A $0 $500,000 $1,000,000 $1,500,000 0 25 50 75 100 125 2014 2015 2016 2017* 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR MOUNTAIN LAKES ç NC © 2023 Turpin Realtors Subject to Errors and Omissions HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 14 8 75% $14,624,500 $7,468,000 95.8% $887,500 $880,000 0.9% $1,044,607 $933,500 11.9% 61 54 13% 95.2% 99.4% -4.2% % CHANGE ç 33.3%
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
NEW PROVIDENCE
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 43.3% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 17 30 0 0 0 0 11 5.67 1.94 1 0.00 ∞ ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC Subject to Errors and Omissions 5 0.00 ∞ 100% 0 4 ç $0 $250,000 $500,000 $750,000 $1,000,000 0 50 100 150 200 250 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR NEW PROVIDENCE © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 17 34 -50% $13,260,000 $24,907,560 -46.8% $836,000 $695,000 20.3% $780,000 $732,575 6.5% 78 29 169% 98.1% 105% -6.6% % CHANGE NC
Sales by Price
PEAPACK-GLADSTONE
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 100% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 3 4 0 1 0 1 0 0 0 1.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 25% ç Subject to Errors and Omissions ç ç 100% $0 $500,000 $1,000,000 $1,500,000 0 10 20 30 40 50 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR PEAPACK-GLADSTONE © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 3 6 -50% $1,977,500 $6,646,849 -70.2% $600,000 $950,000 -36.8% $659,166 $1,107,808 -40.5% 63 37 70.3% 98% 95.6% 2.5% % CHANGE NC 1 0.00 ∞ 2 0.00 ∞
Sales by Price
RANDOLPH TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 36 58 2 4 0 0 0 0 20 12.00 1.67 0 0.67 N/A 0 0.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC Subject to Errors and Omissions ç 50% $0 $250,000 $500,000 $750,000 $1,000,000 0 100 200 300 400 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR RANDOLPH 37.9% ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 38 62 -38.7% $27,262,512 $39,557,888 -31.1% $733,500 $595,000 23.3% $717,434 $638,030 12.4% 37 38 -2.6% 100.5% 103.7% -3.1% % CHANGE
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
READINGTON TWP.
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 6.5% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 43 46 2 1 0 0 0 0 20 14.33 1.40 2 0.67 3.00 0 0.00 N/A ç 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC Subject to Errors and Omissions 100% ç $0 $200,000 $400,000 $600,000 $800,000 0 100 200 300 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR READINGTON TOWNSHIP © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 45 47 -4.3% $25,403,314 $23,094,162 10% $520,000 $465,000 11.8% $564,518 $491,365 14.9% 41 47 -12.8% 99.6% 102.5% -2.8% % CHANGE NC
FIRST QUARTER MARKET REPORT 2023 10 Year Market History
Sales by Price
Overview
SUMMIT
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 20.7% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 25% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 23 29 9 12 7 10 1 0 15 7.67 1.96 9 3.00 3.00 6 0.33 18.00 ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç ç 30% Subject to Errors and Omissions 1 2.33 0.43 ç $0 $500,000 $1,000,000 $1,500,000 $2,000,000 0 100 200 300 400 500 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR SUMMIT © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 40 51 -21.6% $52,349,176 $62,201,056 -15.8% $960,000 $900,000 6.7% $1,308,729 $1,219,628 7.3% 38 27 40.7% 100.8% 102.7% -1.9% % CHANGE
Sales by Price
TEWKSBURY TWP.
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 56.3% $1,000,000-$1,999,999 % CHANGE 28.6% INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 7 16 5 7 5 2.33 2.14 4 1.67 2.40 ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç Subject to Errors and Omissions $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 0 50 100 150 200 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR TEWKSBURY © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 12 23 -47.8% $11,450,500 $21,817,000 -47.5% $795,000 $851,000 -6.6% $954,208 $948,565 0.6% 131 91 44% 95.8% 99.3% -3.5% % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE 0 0 0 0 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC 1 0.00 ∞ 2 0.00 ∞
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
WARREN
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 25.9% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE 29.4% $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 20 27 12 17 0 2 0 0 13 6.67 1.95 27 4.00 6.75 0 0.00 N/A ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç Subject to Errors and Omissions NC 3 0.00 ∞ $0 $500,000 $1,000,000 $1,500,000 0 100 200 300 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR WARREN 100% ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 32 46 -30.4% $31,645,758 $48,199,892 -34.3% $895,000 $960,000 -6.8% $988,929 $1,047,823 -5.6% 56 62 -9.7% 96.7% 97% -0.3% % CHANGE
WASHINGTON TWP. (MORRIS COUNTY)
FIRST QUARTER MARKET REPORT 2023 10 Year Market History
Sales by Price
Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 25.7% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 26 35 0 3 0 0 0 0 17 8.67 1.96 0 0.00 N/A 0 0.00 N/A QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 NC NC ç Subject to Errors and Omissions $0 $200,000 $400,000 $600,000 $800,000 0 100 200 300 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR WASHINGTON TOWNSHIP 100% ç © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 26 38 -31.6% $13,044,953 $21,250,800 -38.6% $477,450 $548,250 -12.9% $501,728 $559,231 -10.3% 61 29 110.3% 100.4% 105.8% -5% % CHANGE 2 0.00 ∞
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
WATCHUNG Overview
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 58.8% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE $3,000,000 AND UP % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 7 17 3 4 0 2 0 0 6 2.33 2.57 6 1.00 6.00 1 0.00 ∞ 2 0.00 ∞ QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç 25% Subject to Errors and Omissions NC ç $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 0 25 50 75 100 125 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR WATCHUNG ç 100% © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 10 23 -56.5% $9,703,500 $21,191,940 -54.2% $879,500 $799,000 10.1% $970,350 $921,388 5.3% 53 59 -10.2% 99.8% 99.6% 0.2% % CHANGE
Sales by Price
FIRST QUARTER MARKET REPORT 2023
10 Year Market History
Overview
WESTFIELD
Source: GSMLS 4/10/23 & Trendgraphix
Supply and Demand (as of March 31, 2023) $0-$999,999 % CHANGE 61.2% $1,000,000-$1,999,999 % CHANGE $2,000,000-$2,999,999 % CHANGE INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY $0-$999,999 $1,000,000-$1,999,999 $2,000,000-$2,999,999 $3,000,000 AND UP INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY INVENTORY AVG SALES PER MONTH MONTH’S SUPPLY 19 49 17 26 4 1 13 6.33 2.05 16 5.67 2.82 ç QTD 2023 QTD 2022 QTD 2023 QTD 2022 QTD 2023 QTD 2022 ç 34.6% Subject to Errors and Omissions 4 1.33 3.00 ç $0 $500,000 $1,000,000 $1,500,000 0 200 400 600 2014 2015 2016 2017* 2018 2019* 2020 2021 2022 2023 # OF HOMES SOLD THRU 1st QTR # OF HOMES SOLD FULL YEAR AVERAGE SALES PRICE FULL YR WESTFIELD 300% © 2023 Turpin Realtors HOMES SOLD Q1 2023 Q1 2022 TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE 40 76 -47.4% $47,023,500 $73,789,024 -36.3% $1,062,500 $860,000 23.5% $1,175,587 $970,908 21.1% 27 38 -28.9% 101% 103.7% -2.6% % CHANGE $3,000,000 AND UP % CHANGE 0 0 QTD 2023 QTD 2022 NC 1 0.00 ∞
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