Morris County Real Estate Market Sees 135 Home Sales in Week
During the week of September 29 to October 5, 2023, Morris County recorded a total of 135 home sales. This surge in transactions highlights the ongoing activity in the local real estate market. The median sale price during this period was noted at $660,000 for a 1,267-square-foot home located on Beechwood Road in Florham Park.
In-depth analysis of the sales data reveals a diverse range of properties sold across various towns in Morris County. For instance, in Budd Lake, a notable sale occurred at 18 Sedicavage Way, which changed hands for $580,000. This property featured 2,412 square feet of living space, translating to a price of $240 per square foot.
The town of Butler also saw significant activity, with a home at 434 Cambridge Drive selling for $440,000. This residence offered 1,262 square feet, resulting in a price per square foot of $349. Another noteworthy sale in Butler was at 415 River Place, which sold for $450,800, comprising 1,457 square feet at $309 per square foot.
Chatham experienced a particularly high-value transaction with the sale of a property at 17 John Street for an impressive $2.5 million. This home spans 2,821 square feet, equating to a premium price of $886 per square foot. Additionally, a property at 149 Southern Boulevard was sold for $1.1 million, encompassing 1,840 square feet and costing $598 per square foot.
The Denville area also contributed to the week’s sales, with a home at 10 Foxcroft Road selling for $801,000. This property features 1,632 square feet, making the price per square foot approximately $491.
In Madison, a property at 25 Woodcliff Drive fetched $1.71 million, representing 3,180 square feet and a price of $538 per square foot. Meanwhile, the 8 Olde Greenhouse Lane home commanded a significant $2.55 million price tag, with a total area of 4,932 square feet, translating to $517 per square foot.
These figures illustrate the competitive nature of the Morris County real estate market. The range in property sizes and prices suggests a vibrant market catering to diverse buyer needs and preferences. As the real estate landscape continues to evolve, it remains to be seen how these trends will impact future sales and property values in the region.
Overall, the data from this week underscores the ongoing demand for homes in Morris County, reflecting a healthy market dynamic as buyers engage with various housing options across the area.
