Morristown New Jersey Home Sale Statistics for 2007

Well, here I am on Christmas Day night going over some interesting year-end stats and I thought I'd share them with you.  As we near the end of 2007, we currently have 118 homes for sale in Morristown NJ and 132 in Morris Township.  As of today, 169 Morristown homes have sold and 200 Morris Township NJ homes.  Below is a breakdown of average price ranges and days on the market.

Morristown NJ Home Sale Statistics

1. Average Sale Price  for a 3 bedroom home - $497,090
2. Average Sale Price for a 4 bedroom home - $502,953
3. Average Sale Price for a 5 bedroom home - $812,300
4. Average Overall Sale Price - $456,637
5. Average Days On The Market - 72

Morris Township NJ Home Sale Statistics

1. Average Sale Price for a 3 bedroom home - $527,231
2. Average Sale Price for a 4 bedroom home - $692,905
3. Average Sale Price for a 5 bedroom home - $1,058,104
4. Average Overall Sale Price - $640,972
5. Average Days On The Market - 69

Generally speaking, Morristown NJ is closer to the town center with small property lots where the township homes are a little further our and have more property.  This  isn't a hardened rule, however, because the homes in Convent Station fall into Morris Township NJ and are close the town, train and have decent lots.

I specialize in both these areas as well as Chatham NJ and Summit NJ real estate.  Summit NJ statistics are also available.

Happy Holidays and I would love to hear from you!

Susan Zanzonico, 973-214-5872, szanzonico@optonline.net

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