NORTH CENTRAL NEW JERSEY
MARKET REPORT 2021 FIRST QUARTER
FIRST QUARTER MARKET REPORT 2021
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 asreportedto GSMLS on 4/7/21. 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.
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: Trendgraphix
CONTENTS
FIRST QUARTER MARKET REPORT 2021 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
Cover image: 3 Linfield Ln, Califon
Morris Twp. Morristown Mountain Lakes New Providence Peapack-Gladstone Randolph Twp. Readington Twp. Summit Tewksbury Twp. Warren Washington Twp. Watchung Westfield
COMMENTARY FIRST QUARTER MARKET REPORT 2021 Heightened demand for residential real estate continued to exceed supply across North Central New Jersey during the first quarter of 2021. In most cases, especially the more popular price ranges and regions, we shifted to a seller’s market. Outbound migration from urban centers, the continuing work-from-home trend, a years-long shortage of new residential construction, and increased interest from millennial buyers are all contributing factors. Inventory Challenges Below $1 Million In the popular under-$1 million price segment, all but two of the 39 towns we studied had less than three month’s supply during the first quarter, and the majority had between one and two month’s supply. Several towns, including Chatham Borough, Mendham Borough, Peapack-Gladstone, and Bedminster, had well below one month’s supply of homes for sale. The result has been an increase in competing bids and a subsequent rise in prices. Month’s Supply: For reference, month’s supply is defined as the amount of time it would take for existing inventory to be sold out, based on the current rate of sale. A balanced market has six to eight months of supply. The Sweet Spot: $1-2 Million During the first quarter of 2021, the $1-2 million segment was a fine example of a balanced market, where increased buyer demand was met with sufficient inventory. Many towns that previously experienced oversupply in this price range, like Chester Township, Mendham Township, Bernardsville, and Tewksbury, posted between four and eight months of inventory during the first quarter. Nevertheless, there were outliers. For example, inventory was low for homes priced between $1-2 million in Summit, Millburn-Short Hills, The Chathams, and Madison, while no town was more pressed than Maplewood, at just 0.25 month’s supply. In contrast, month’s supply was in the double digits for homes priced between $1-2 million in Boonton Township, Mendham Borough, and Berkeley Heights during the first quarter. Improvement in the Upper End Between January and March, higher-priced homes traded at a pace we had not seen for many years in this segment, and all signs point to a continuation of this trend. Increased volume at the upper end also gave a boost to the median sale price in most towns, as compared to the same period last year. Although that’s welcome news for the upper end, the median price increase should not be misconstrued as across-the-board appreciation. A Word About Pricing According to Jeffrey Otteau, of the Otteau Valuation Group, the average sale price of a home in New Jersey increased by 11.6% in 2020, which is the greatest single-year increase since 2005. Nevertheless, and as always, home values depend on local market conditions, which vary from town to town and even across price segments within a given town. Where inventory is exceedingly tight, high buyer demand leads to multiple bids and price increases. Conversely, in towns or market segments that present more supply, prices appreciate at a lower rate, and in some cases not at all. To be sure, these are exciting times for residential real estate. Many of our communities have quickly transitioned from a buyer’s market to a seller’s market. Success in these conditions requires astute perspective and a broad-ranging skillset. At Turpin, we are focused on ensuring our team has the knowledge, training, and support to help our clients thrive in this new climate — from accurate pricing strategies in a rapidly evolving market to best practices for handling multiple bids.
John Turpin, President www.TurpinRealtors.com/Reports © 2021 Turpin Realtors
Source: GSMLS and TrendGraphix
BEDMINSTER FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
41
48.8%
61
TOTAL DOLLAR VOLUME
$28,257,038 $15,482,800 82.5%
MEDIAN SALE PRICE
$350,000
$320,000
9.4%
AVERAGE SALE PRICE
$463,230
$377,629
22.7%
60
50
20%
96.4%
97.3%
-0.9%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE NC
0 0
YTD
2021
YTD
2020
1 0
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
60 41
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
46.3%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 20.00 0.75
INVENTORY
AVG SALES PER MONTH
3 0.00
MONTH’S SUPPLY
∞
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
2 0.33 6.00
INVENTORY
AVG SALES PER MONTH
4 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
BERKELEY HEIGHTS FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
33
21.2%
40
TOTAL DOLLAR VOLUME
$24,799,500 $18,011,750 37.7%
MEDIAN SALE PRICE
$600,500
$550,000
9.2%
AVERAGE SALE PRICE
$619,987
$545,810
13.6%
44
82
-46.3%
99.6%
97.0%
2.6%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
39 33
YTD
2020
1 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
18.2%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
27 13.00 2.08
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 0.33 18.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
BERNARDS TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
76
18.4%
90
TOTAL DOLLAR VOLUME
$57,742,072 $46,982,472 22.9%
MEDIAN SALE PRICE
$586,500
$590,000
-0.6%
AVERAGE SALE PRICE
$641,578
$618,190
3.8%
48
84
-42.9%
99.0%
96.0%
3.2%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
15 5
YTD
2021
YTD
2020
0 1
200%
7.1%
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
75 70
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
100%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
30 25.00 1.20
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 5.00 3.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
5 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
BERNARDSVILLE FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
41
TOTAL DOLLAR VOLUME
% CHANGE
22
86.4%
$37,174,944 $14,961,665 148.5%
MEDIAN SALE PRICE
$770,000
$528,000
45.8%
AVERAGE SALE PRICE
$906,705
$680,075
33.3%
AVERAGE DAYS ON MARKET
111
% SALES PRICE TO LIST PRICE
96.5%
100 11.0% 95.5%
1.1%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
% CHANGE
11 4
55.6%
YTD
2021
YTD
2020
2 0
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
28 18
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
175.0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
22 9.33 2.36
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
17 3.67 4.64
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
6 0.67 9.00
INVENTORY
AVG SALES PER MONTH
3 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
BOONTON TOWN FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021
Q1 2020
% CHANGE
13
15
-13.3%
$5,828,000
$6,198,500
-6.0%
MEDIAN SALE PRICE
$425,000
$417,500
1.8%
AVERAGE SALE PRICE
$448,307
$413,233
8.5%
33
52
-36.5%
HOMES SOLD TOTAL DOLLAR VOLUME
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
100.8%
98.3% 2.6%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
ç
13 15
YTD
2020
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
13.3%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
11 4.33 2.54
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
BOONTON TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
12
50%
18
TOTAL DOLLAR VOLUME
$12,100,900 $3,893,000 210.8%
MEDIAN SALE PRICE
$612,500
$353,750
73.1%
AVERAGE SALE PRICE
$672,272
$324,416
107.2%
81
94
-13.8%
97.6%
93.9%
3.8%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
% CHANGE
ç
ç
17 12
YTD
2020
1 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
41.7%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
8 5.67 1.41
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 0.33 12.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
1 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
BRIDGEWATER TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
116
TOTAL DOLLAR VOLUME
% CHANGE
97 19.6%
$61,146,768 $45,969,852 33.0%
MEDIAN SALE PRICE
$489,000
$443,000
10.4%
AVERAGE SALE PRICE
$527,127
$473,916
11.2%
54
61
-11.5%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
100.2%
97.5% 2.8%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
ç
5 3
ç
111 94
YTD
2021
18.1%
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
66.7%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
45 37.00 1.22
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 1.67 2.40
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CALIFON FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
6
TOTAL DOLLAR VOLUME
% CHANGE
4 50%
$2,014,900 $1,090,000 84.9%
MEDIAN SALE PRICE
$372,450
$246,250 51.2%
AVERAGE SALE PRICE
$335,816
$272,500 23.2%
AVERAGE DAYS ON MARKET
40
71 -43.7%
% SALES PRICE TO LIST PRICE
98.5%
98.5% 0.1%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
ç
6 4
YTD
2021
YTD
2020
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
50%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 2.00 2.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CHATHAM BORO FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
13
230.8%
43
TOTAL DOLLAR VOLUME
$45,626,600 $9,681,300 371.3% $957,000
MEDIAN SALE PRICE AVERAGE SALE PRICE
$630,400
51.8%
$1,061,083 $744,715 42.5%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
51
65
-21.5%
99.7%
96.1%
3.7%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
16 2
YTD
2021
YTD
2020
3 0
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
24 11
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
700%
118.2%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 8.00 0.75
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 5.33 2.25
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
1 1.00 1.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CHATHAM TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
25
80%
45
TOTAL DOLLAR VOLUME
$52,031,752 $28,660,276 81.5%
MEDIAN SALE PRICE
$1,090,000 $985,000 10.7%
AVERAGE SALE PRICE
$1,156,261 $1,146,411
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
0.9%
38
57
-33.3%
99.1%
96.5%
2.7%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
61.5%
YTD
2020
3 6
216.7%
% CHANGE
YTD
2021
YTD
2020
% CHANGE
2 0
ç
19 6
YTD
2021
$3,000,000 AND UP
ç
ç
ç
21 13
YTD
2020
$2,000,000-$2,999,999
50%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
13 7.00 1.86
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
11 6.33 1.74
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
9 1.00 9.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 0.67 6.00
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CHESTER BORO FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
3
TOTAL DOLLAR VOLUME
% CHANGE
5 -40%
$1,882,000 $1,902,000 -1.1%
MEDIAN SALE PRICE
$587,000
$400,000 46.8%
AVERAGE SALE PRICE
$627,333
$380,400 64.9%
AVERAGE DAYS ON MARKET
56
83 -32.5%
% SALES PRICE TO LIST PRICE
99.7%
97.3% 2.4%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE NC
0 0
ç
3 5
YTD
2021
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
40%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 1.00 4.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CHESTER TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
22
54.5%
34
TOTAL DOLLAR VOLUME
$23,963,300 $11,572,709 107.1%
MEDIAN SALE PRICE
$614,500
$557,125
10.3%
AVERAGE SALE PRICE
$704,802
$526,032
34.0%
AVERAGE DAYS ON MARKET
89
% SALES PRICE TO LIST PRICE
94 -5.3%
98.6%
97.1% 1.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
3 0
YTD
2021
YTD
2020
1 0
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
30 22
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
36.4%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
11 10.00 1.10
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 1.00 6.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
2 0.33 6.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CLINTON TOWN FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
15
TOTAL DOLLAR VOLUME
% CHANGE
12 25.0%
$5,904,500 $3,827,100 54.3%
MEDIAN SALE PRICE
$365,000
$329,500 10.8%
AVERAGE SALE PRICE
$393,633
$318,925 23.4%
AVERAGE DAYS ON MARKET
32
72 -55.6%
% SALES PRICE TO LIST PRICE
98.2%
98.0% 0.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
15 12
YTD
2020
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
25.0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 5.00 1.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
CLINTON TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
27
96.3%
53
TOTAL DOLLAR VOLUME
$26,021,240 $9,389,300 177.1%
MEDIAN SALE PRICE
$490,000
$325,000
50.8%
AVERAGE SALE PRICE
$490,966
$347,751
41.2%
50
53
-5.7%
99.4%
96.6%
2.9%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
52 27
YTD
2020
1 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
92.6%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 17.33 0.81
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
1 0.33 3.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
FAR HILLS FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE
Q1 2020
% CHANGE
5
3
66.7%
$5,103,497
$3,270,000
56.1%
$755,000
$705,000
7.1%
$1,020,699 $1,090,000 -6.4%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
92
160
-42.5%
89.1%
88.5%
0.6%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
ç
ç
3 2
YTD
2021
2 1
50%
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
100%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 1.00 6.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
1 0.67 1.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
2 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
FLORHAM PARK FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
17
70.6%
29
TOTAL DOLLAR VOLUME
$22,104,900 $12,226,551 80.8%
MEDIAN SALE PRICE
$670,000
$675,000
-0.7%
AVERAGE SALE PRICE
$762,237
$719,208
6.0%
70
52
34.6%
98.4%
96.8%
1.6%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
% CHANGE
ç
ç
23 14
YTD
2020
6 3
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
100%
64.3%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 7.67 1.57
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 2.00 3.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
1 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
HARDING TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021
Q1 2020
% CHANGE
10
16
-37.5%
$13,913,250
$17,028,250
-18.3%
HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE
$1,472,500 $990,000 48.7%
AVERAGE SALE PRICE
$1,391,325 $1,064,265 30.7%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
80
129
-38.0%
99.7%
91.9%
8.5%
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
% CHANGE
ç
ç
3 8
YTD
2020
6 7
YTD
2021
YTD
2020
1 1
14.3%
62.5%
$3,000,000 AND UP
$2,000,000-$2,999,999 % CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 1.00 2.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 2.00 2.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
5 0.33 15.00
INVENTORY
AVG SALES PER MONTH
11 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
LEBANON BORO FIRST QUARTER MARKET REPORT 2021
Overview HOMES SOLD TOTAL DOLLAR VOLUME
Q1 2021
Q1 2020
% CHANGE
9
4
125.0%
$3,114,027 $1,078,000 188.9%
MEDIAN SALE PRICE
$305,000
$265,500 14.9%
AVERAGE SALE PRICE
$346,003
$269,500 28.4%
AVERAGE DAYS ON MARKET
36
63 -42.9%
% SALES PRICE TO LIST PRICE
99.4%
96.3% 3.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
9 4
$2,000,000-$2,999,999
% CHANGE
YTD
2020
YTD
2021
NC
0 0
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
125.0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 3.00 0.67
INVENTORY
0
AVG SALES PER MONTH
MONTH’S SUPPLY
0.00
N/A
$2,000,000-$2,999,999 INVENTORY
0
AVG SALES PER MONTH
0.00
$3,000,000 AND UP
MONTH’S SUPPLY
N/A
INVENTORY
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
LEBANON TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
20
TOTAL DOLLAR VOLUME
% CHANGE
18 11.1%
$8,594,800 $7,100,633 21.0%
MEDIAN SALE PRICE
$362,500
AVERAGE SALE PRICE
$429,740 $394,479 8.9%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
$446,950 -18.9%
44
110 -60%
99.5%
94.2% 5.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
20 18
YTD
2020
$2,000,000-$2,999,999
% CHANGE
YTD
2021
NC
0 0
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
11.1%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 6.67 2.10
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
$2,000,000-$2,999,999 INVENTORY
0
AVG SALES PER MONTH
0.00
$3,000,000 AND UP
MONTH’S SUPPLY
N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
LONG HILL TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
25
-20%
20
TOTAL DOLLAR VOLUME
$12,511,000 $12,155,000
2.9%
MEDIAN SALE PRICE
$581,250
$480,000
21.1%
AVERAGE SALE PRICE
$625,550
$486,200
28.7%
48
86
-44.2%
96.8%
3.4%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
100.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
18 25
YTD
2020
2 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
28.0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
18 6.00 3.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 0.67 6.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MADISON FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021
Q1 2020
% CHANGE
34
39
-12.8%
$34,185,920
$30,604,400
11.7%
$942,500
$670,000
40.7%
HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE
$1,005,468 $784,728 28.1%
AVERAGE DAYS ON MARKET
40
% SALES PRICE TO LIST PRICE
98.1%
73
-45.2%
95.9%
2.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
15 5
YTD
2021
YTD
2020
0 1
200%
42.4%
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
19 33
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
100%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
17 6.33 2.68
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 5.00 2.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
2 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MAPLEWOOD FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
64
15.6%
74
TOTAL DOLLAR VOLUME
$52,484,352 $36,604,024 43.4%
MEDIAN SALE PRICE
$652,500
$557,500
17.0%
AVERAGE SALE PRICE
$709,248
$571,937
24.0%
35
42
-16.7%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
107.2%
102.2% 4.9%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
12 2
YTD
2021
YTD
2020
1 0
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
61 62
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
500%
1.6%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
27 20.33 1.33
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
1 4.00 0.25
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.33 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MENDHAM BORO FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
10
150%
25
TOTAL DOLLAR VOLUME
$15,358,888 $5,264,000 191.8%
MEDIAN SALE PRICE
$575,000
$502,500
14.4%
AVERAGE SALE PRICE
$614,355
$526,400
16.7%
55
155
-64.5%
98.8%
97.1%
1.7%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
24 10
YTD
2020
1 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
140%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 8.00 0.63
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 0.33 21.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
1 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MENDHAM TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021
Q1 2020
% CHANGE
27
23
17.4%
$27,766,200
$14,924,148
86.0%
$800,000
$629,000
27.2%
HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE
$1,028,377 $648,876 58.5%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
56
78
-28.2%
97.7%
94.6%
3.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
8 2
YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
1 0
ç
ç
ç
18 21
YTD
2020
$2,000,000-$2,999,999
300%
14.3%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
13 6.00 2.17
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 2.67 5.63
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
4 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
3 0.33 9.00
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MILLBURN FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
52
38.5%
72
TOTAL DOLLAR VOLUME
$98,168,752 $64,743,000 51.6%
MEDIAN SALE PRICE
$1,177,500 $1,049,500 12.2%
AVERAGE SALE PRICE
$1,363,454 $1,245,057
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
9.5%
50
75
-33.3%
98.9%
97.7%
1.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
YTD
2020
10 11
106.7%
11.5%
% CHANGE
YTD
2021
YTD
2020
% CHANGE
2 0
ç
31 15
YTD
2021
$3,000,000 AND UP
ç
ç
ç
29 26
YTD
2020
$2,000,000-$2,999,999
9.1%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 9.67 1.45
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
24 10.33 2.32
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
7 3.33 2.10
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 0.67 22.50
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MORRIS PLAINS FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
17
35.3%
23
TOTAL DOLLAR VOLUME
$11,647,399 $8,198,667 42.1%
MEDIAN SALE PRICE
$525,900
$486,667
8.1%
AVERAGE SALE PRICE
$506,408
$482,274
5.0%
41
53
-22.6%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
101.5%
94.8% 7.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
23 17
$2,000,000-$2,999,999
% CHANGE
YTD
2020
YTD
2021
NC
0 0
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
35.3%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 7.67 1.30
INVENTORY
0
AVG SALES PER MONTH
MONTH’S SUPPLY
0.00
N/A
$2,000,000-$2,999,999 INVENTORY
0
AVG SALES PER MONTH
0.00
$3,000,000 AND UP
MONTH’S SUPPLY
N/A
INVENTORY
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MORRIS TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
65
30.8%
85
TOTAL DOLLAR VOLUME
$58,709,336 $39,861,328 47.3%
MEDIAN SALE PRICE
$650,000
$585,000
11.1%
AVERAGE SALE PRICE
$690,698
$613,251
12.6%
45
56
-19.6%
99.3%
97.6%
1.7%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
76 61
YTD
2020
9 4
24.6%
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
125.0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
39 25.33 1.54
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
13 3.00 4.33
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
MORRISTOWN FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
33
45.5%
48
TOTAL DOLLAR VOLUME
$25,936,400 $16,472,300 57.5%
MEDIAN SALE PRICE
$542,500
$437,500
24.0%
AVERAGE SALE PRICE
$540,341
$499,160
8.3%
54
53
1.9%
99.3%
96.8%
2.5%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
46 31
YTD
2020
% CHANGE
2 2
NC
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
0%
48.4%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
26 15.33 1.70
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 0.67 7.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Source: GSMLS 4/7/21 & Trendgraphix
MOUNTAIN LAKES FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
15
6.7%
16
TOTAL DOLLAR VOLUME
$13,012,000 $9,379,250 38.7%
MEDIAN SALE PRICE
$805,500
$595,000
35.4%
AVERAGE SALE PRICE
$813,250
$625,283
30.1%
44
105
-58.1%
98.4%
96.8%
1.7%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
% CHANGE
3 1
7.1%
ç
ç
13 14
YTD
2020
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
200%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 4.33 1.15
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 1.00 6.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
2 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2021 Turpin Realtors
Source: GSMLS 4/7/21 & Trendgraphix
NEW PROVIDENCE FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
26
30.8%
34
TOTAL DOLLAR VOLUME
$21,811,700 $18,025,000 21.0%
MEDIAN SALE PRICE
$642,600
$632,500
1.6%
AVERAGE SALE PRICE
$641,520
$693,269
-7.5%
35
65
-46.2%
99.4%
97.2%
2.2%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
33 23
YTD
2020
1 3
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
66.7%
43.5%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 11.00 1.36
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
1 0.33 3.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
PEAPACK-GLADSTONE FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
7
128.6%
16
TOTAL DOLLAR VOLUME
$15,157,125 $7,055,999 114.8%
MEDIAN SALE PRICE
$717,500
$700,000
2.5%
AVERAGE SALE PRICE
$947,320
$1,007,999
-6.0%
82
98
-16.3%
96.4%
89.8%
7.4%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $0-$999,999 YTD
2021
YTD
2020
$1,000,000-$1,999,999
% CHANGE
YTD
2021
% CHANGE
YTD
2020
0 1
200%
140%
% CHANGE
YTD
2021
YTD
2020
% CHANGE
1 0
ç
3 1
YTD
2021
$3,000,000 AND UP
ç
ç
ç
12 5
YTD
2020
$2,000,000-$2,999,999
100%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 4.00 0.50
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
3 1.00 3.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.33 0.00
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
RANDOLPH TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
59
-1.7%
58
TOTAL DOLLAR VOLUME
$34,305,500 $26,383,464
30%
MEDIAN SALE PRICE
$553,750
$408,000
35.7%
AVERAGE SALE PRICE
$591,474
$447,177
32.3%
39
65
-40%
97.9%
2.3%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
100.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2020
% CHANGE
ç
3 0
ç
55 59
YTD
2021
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
6.8%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 18.33 1.25
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
1 1.00 1.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
READINGTON TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
58
3.4%
60
TOTAL DOLLAR VOLUME
$30,365,650 $24,894,610
22%
MEDIAN SALE PRICE
$487,500
$459,250
6.2%
AVERAGE SALE PRICE
$506,094
$429,217
17.9%
63
77
-18.2%
98.8%
98.6%
0.1%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
60 58
YTD
2020
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
3.4%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
25 20.00 1.25
INVENTORY
AVG SALES PER MONTH
3 0.00
MONTH’S SUPPLY
∞
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
SUMMIT FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021
Q1 2020
% CHANGE
70
57
22.8%
$75,554,000
$53,239,348
41.9%
$932,250
$828,000
12.6%
HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE
$1,079,342 $934,023 15.6%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
46
82
-43.9%
99.1%
96.3%
2.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
YTD
2020
3 2
18.2%
18.2%
% CHANGE
YTD
2021
YTD
2020
% CHANGE
2 0
ç
26 22
YTD
2021
$3,000,000 AND UP
ç
ç
ç
39 33
YTD
2020
$2,000,000-$2,999,999
50%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
19 13.00 1.46
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 8.67 1.73
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
7 1.00 7.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
3 0.67 4.50
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
TEWKSBURY TWP. FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
28
-7.1%
26
TOTAL DOLLAR VOLUME
$19,965,176 $15,991,607 24.8%
MEDIAN SALE PRICE
$749,500
$559,500
34.0%
AVERAGE SALE PRICE
$767,891
$571,128
34.5%
72
101
-28.7%
97.5%
97.1%
0.4%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
23 27
YTD
2020
3 1
14.8%
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
200%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
16 7.67 2.09
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
8 1.00 8.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
4 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
WARREN FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
40
30%
52
TOTAL DOLLAR VOLUME
$46,111,400 $29,335,836 57.2%
MEDIAN SALE PRICE
$700,000
$747,500
-6.4%
AVERAGE SALE PRICE
$886,757
$733,395
20.9%
62
63
-1.6%
97.2%
96.1%
1.2%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
13 4
2.8%
YTD
2021
YTD
2020
2 0
% CHANGE
YTD
2021
ç
ç
ç
37 36
YTD
2020
$3,000,000 AND UP
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
225.0%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 12.33 1.86
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
22 4.33 5.08
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
2 0.67 3.00
INVENTORY
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
WASHINGTON TWP. (MORRIS COUNTY) FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
48
10.4%
53
TOTAL DOLLAR VOLUME
$25,290,800 $21,680,910 16.7%
MEDIAN SALE PRICE
$435,000
$447,500
-2.8%
AVERAGE SALE PRICE
$477,184
$451,685
5.6%
32
84
-61.9%
96.3%
4.7%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
100.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
ç
53 48
YTD
2020
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
10.4%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
26 17.67 1.47
INVENTORY
AVG SALES PER MONTH
2 0.00
MONTH’S SUPPLY
∞
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
WATCHUNG FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
% CHANGE
13
146.2%
32
TOTAL DOLLAR VOLUME
$25,641,924 $9,438,500 171.7%
MEDIAN SALE PRICE
$690,000
$662,500
4.2%
AVERAGE SALE PRICE
$801,310
$726,038
10.4%
66
72
-8.3%
97.1%
94.1%
3.2%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
ç
ç
24 11
YTD
2020
8 2
$2,000,000-$2,999,999 YTD
2021
YTD
2020
0 0
$3,000,000 AND UP
% CHANGE
YTD
2021
NC
YTD
2020
% CHANGE
0 0
NC
300%
118.2%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 8.00 1.25
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
11 2.67 4.13
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
2 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
WESTFIELD FIRST QUARTER MARKET REPORT 2021
Overview Q1 2021 HOMES SOLD
Q1 2020
105
TOTAL DOLLAR VOLUME
% CHANGE
88 19.3%
$98,719,752 $70,492,944
40%
MEDIAN SALE PRICE
$850,000
$694,500
22.4%
AVERAGE SALE PRICE
$940,188
$801,056
17.4%
48
70
-31.4%
99.1%
97.8%
1.3%
AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2021
YTD
2020
% CHANGE
YTD
2021
% CHANGE
29 23
YTD
2021
YTD
2020
4 0
$3,000,000 AND UP
% CHANGE
YTD
2021
ç
ç
ç
72 65
YTD
2020
$2,000,000-$2,999,999
YTD
2020
% CHANGE
0 0
NC
26.1%
10.8%
Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
29 24.00 1.21
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
17 9.67 1.76
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
2 1.33 1.50
INVENTORY
AVG SALES PER MONTH
3 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2021 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/7/21 & Trendgraphix
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