New Listing
9
$295,000
50 Elm St Unit 4B
Morristown, NJ 07960
1 bd1 ba
Condo15,682 sqft lot
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Sarah Mitchell
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Compass Real Estate · Morristown, NJ
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Morristown, NJ(512) 555-0184TX License #0512847
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Morristown, NJ Housing Market & Real Estate
Strong seller's market+13.1% YoY
Housing market overview · Updated monthly ·
$835,000median sale price
How is the Morristown, NJ housing market right now?
The median home sale price in Morristown, NJ is $835,000, up 13.1% year-over-year. Homes sell in an average of 14 days with 37 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Morristown a buyer's or seller's market?
Strong seller's market2.8 months of supply14 avg. days on market
Morristown, NJ is currently a strong seller's market, based on 2.8 months of supply and homes selling in about 14 days. How we determine this →
Homes sold
13
Last 12 weeks
Days on market
14
Fast-moving
Active listings
37
2.8 months supply
Sale-to-list
105.1%
Above asking
What does the Morristown housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $835,000 |
| Median list price | $1.10M |
| Year-over-year price change | +13.1% |
| Average days on market | 14 days |
| Active inventory | 37 listings |
| Months of supply | 2.8 months |
| Sale-to-list price ratio | 105.1% |
| Median price per sq ft | $458/sq ft |
| Homes sold (latest month) | 13 |
| New listings (latest month) | 25 |
| Listings with a price cut | 16.2% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Morristown by property type?
How the Morristown, NJ market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $835,000 | $458/sq ft | 13 | 14 days |
| Condo / Co-op | $522,500 | $384/sq ft | 2 | 201 days |
| Townhouse | $690,000 | $408/sq ft | 1 | 77 days |
Source: Redfin · Updated monthly
The Morristown housing market is currently classified as a strong seller's market with a median sale price of $835,000. Prices have risen 13.1% compared to last year, with homes spending an average of 14 days on market, indicating 2.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 8.0x provides context for how home values compare to local earning capacity.
Homes for sale in Morristown
There are currently 37 homes listed for sale in Morristown, New Jersey. The median listing price is $1.1M. Featured listings range from $295,000 to $1,299,000.
New Listing
35
$475,000
7 Prospect St Unit 410
Morristown, NJ 07960
1 bd1 ba
Condo
Ryan Dougherty · COMPASS NEW JERSEY, LLC
View photos & details
New Listing
30
$500,000
1 Lyons Pl
Morristown, NJ 07960
2 bd2 ba1,296 sqft$386/ft²
House6,098 sqft lot
View photos & details
New Listing
22
$525,000
14G Dorado Dr Unit G
Morristown, NJ 07960
2 bd3 ba
Condo2.44 acres
Michelle Slinger · RE MAX HERITAGE PROPERTIES
View photos & details
New Listing
26
$589,900
78 Wildflower Ln Unit 1604
Morristown, NJ 07960
2 bd3 ba
Townhouse
EXP Realty, LLC
View photos & details
New Listing
26
$589,900
78 Wildflower Ln
Morristown, NJ 07960
2 bd3 ba
Condo4,792 sqft lot
View photos & details
New Listing
41
$650,000
8 Grant St
Morristown, NJ 07960
3 bd3 ba
House3,049 sqft lot
View photos & details
New Listing
23
$675,000
38 Keats Way
Morristown, NJ 07960
2 bd3 ba1,392 sqft$485/ft²
Condo2,614 sqft lot
View photos & details
New Listing
28
$734,990
79 Rhyan Dr
Morristown, NJ 07054
3 bd3 ba1,676 sqft$439/ft²
Townhouse
Reshni Mahtani · ELEVENX
View photos & details
New Listing
26
$749,999
15 House Rd
Morristown, NJ 07960
4 bd2 ba
House10,019 sqft lot
View photos & details
New Listing
47
$1,150,000
20 Fieldstone Dr
Morristown, NJ 07960
5 bd3 ba3,157 sqft$364/ft²
House30,928 sqft lot
View photos & details
New Listing
45
$1,299,000
2 Barnstable Ct
Morristown, NJ 07960
4 bd3 ba
House18,295 sqft lot
View photos & details
Looking to buy in Morristown?
Get connected with a local real estate expert — free, no obligation.
Active listings
37
Homes on market
Median list price
$1.1M
Avg. days on market
14
Days until sale
New this week
25
Newly listed
Price drops:16.2%of listings
Sale-to-list:105.1%
Who lives in Morristown?
Population
20,256
Median income
$115,409/yr
Median age
34 years
Owner-occupied
36.1%
College grads
57.5%
Avg commute
24.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Morristown?
Zillow home value
$920,716
Zillow rent index
$2,860/mo
Price-to-rent ratio
26.8x
Price-to-income
8.0x
Source: Zillow Research
What is it like to live in Morristown?
Morristown is a community of approximately 20K residents with a median age of 34 years.The median household income is $115,409, which reflects a relatively affluent area with strong earning potential. 57.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 36.1%, showing a blend of owner and renter-occupied properties. The average commute time is 24.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Morristown offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Morristown?
12 schools tracked · 4,781 students
The largest public schools serving Morristown, NJ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Morristown High School
Grades 9-12 · 1,856 students
Frelinghuysen Middle School
Grades 6-8 · 1,026 students
Normandy Park School
Grades K-5 · 361 students
Sussex Avenue School
Grades 3-5 · 336 students
Thomas Jefferson School
Grades 3-5 · 305 students
Hillcrest School
Grades K-2 · 268 students
Alexander Hamilton
Grades 3-5 · 248 students
Unity Charter School
Grades K-8 · 244 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Morristown, NJ?
Want a head-to-head view? Compare Morristown side-by-side with any other U.S. city using our market-comparison tool.
Which ZIP codes are in Morristown?
Is Morristown a good real estate investment market?
For investors evaluating Morristown, the price-to-rent ratio of 26.8x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 13.1% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Morristown's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Morristown's median home price.
Frequently asked questions
What is the average home price in Morristown?
The median home sale price in Morristown is $835,000, up 13.1% from last year.
How long do homes stay on market in Morristown?
Homes typically spend 14 days on market before going under contract.
What is the median income in Morristown?
The median household income is $115,409 per year.
Is Morristown a buyer's or seller's market?
With 2.8 months of supply, Morristown is currently a strong seller's market.
How many homes are for sale in Morristown?
There are currently 37 homes listed for sale in Morristown, NJ.
What is the Zillow home value estimate for Morristown?
The Zillow Home Value Index (ZHVI) for Morristown is $920,716, representing the typical home value in the area.
What is the median condo price in Morristown?
The median condo/co-op sale price in Morristown, NJ is $522,500, compared to $835,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Morristown?
The median single-family home price in Morristown, NJ is $835,000 (about $458 per square foot).
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