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Featured local agent — Parsippany, NJ
Sarah Mitchell
Compass Real Estate · Parsippany, NJ
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Parsippany, NJ Housing Market & Real Estate
Housing market overview · Updated monthly ·
$782,500median sale price
How is the Parsippany, NJ housing market right now?
The median home sale price in Parsippany, NJ is $782,500, down 3.2% year-over-year. Homes sell in an average of 17 days with 11 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 Parsippany a buyer's or seller's market?
Parsippany, NJ is currently a strong seller's market, based on 1.1 months of supply and homes selling in about 17 days. How we determine this →
Homes sold
10
Last 12 weeks
Days on market
17
Fast-moving
Active listings
11
1.1 months supply
Sale-to-list
103.0%
Above asking
What does the Parsippany housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $782,500 |
| Median list price | $512,000 |
| Year-over-year price change | -3.2% |
| Average days on market | 17 days |
| Active inventory | 11 listings |
| Months of supply | 1.1 months |
| Sale-to-list price ratio | 103.0% |
| Median price per sq ft | $345/sq ft |
| Homes sold (latest month) | 10 |
| New listings (latest month) | 6 |
| Listings with a price cut | 45.5% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Parsippany by property type?
How the Parsippany, 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 | $782,500 | $345/sq ft | 10 | 17 days |
| Townhouse | $655,000 | — | 1 | 69 days |
Source: Redfin · Updated monthly
The Parsippany housing market is currently classified as a strong seller's market with a median sale price of $782,500. Prices have fallen 3.2% compared to last year, with homes spending an average of 17 days on market, indicating 1.1 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Parsippany
There are currently 11 homes listed for sale in Parsippany, New Jersey. The median listing price is $512K.
Active listings
11
Homes on market
Median list price
$512K
Avg. days on market
17
Days until sale
New this week
6
Newly listed
Who lives in Parsippany?
Population
21,869
Median income
$102,152/yr
Median age
41.4 years
Owner-occupied
49.3%
College grads
60.0%
Avg commute
26.8 min
Source: U.S. Census Bureau ACS
What are homes worth in Parsippany?
Zillow rent index
$2,925/mo
Source: Zillow Research
What is it like to live in Parsippany?
Parsippany is a community of approximately 22K residents with a median age of 41.4 years.The median household income is $102,152, which reflects a relatively affluent area with strong earning potential. 60.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 49.3%, showing a blend of owner and renter-occupied properties. The average commute time is 26.8 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Parsippany offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Parsippany?
8 schools tracked · 4,252 students
The largest public schools serving Parsippany, 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.
Brooklawn Middle School
Grades 6-8 · 942 students
Parsippany High School
Grades 9-12 · 937 students
Central Middle School
Grades 6-8 · 731 students
Eastlake Elementary School
Grades PK-5 · 396 students
Northvail Elementary School
Grades K-5 · 392 students
Lake Parsippany Elementary School
Grades K-5 · 301 students
Troy Hills Elementary School
Grades K-5 · 294 students
Rockaway Meadow Elementary School
Grades K-5 · 259 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 Parsippany, NJ?
Want a head-to-head view? Compare Parsippany side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Parsippany?
The median home sale price in Parsippany is $782,500, down 3.2% from last year.
How long do homes stay on market in Parsippany?
Homes typically spend 17 days on market before going under contract.
What is the median income in Parsippany?
The median household income is $102,152 per year.
Is Parsippany a buyer's or seller's market?
With 1.1 months of supply, Parsippany is currently a strong seller's market.
How much does a single-family home cost in Parsippany?
The median single-family home price in Parsippany, NJ is $782,500 (about $345 per square foot).
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