FIRST QUARTER MARKET REPORT 2019 PRESENTED BY
John Turpin
President, Broker of Record 908-234-9100 jdturpin@turpinrealtors.com
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 4/8/19. Source: TrendGraphix. 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.
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
COMMENTARY FIRST QUARTER MARKET REPORT 2019 When evaluating first quarter real estate market performance in our region, it’s important to note that this “pre-season” affords only a small data set, reflecting relatively low volume. This is not uncommon during the winter months and it is the reason that first quarter performance is not typically an accurate predictor of outcomes for the coming year. Thus far in 2019 we have observed variability in performance across our area. However the traditionally busy spring market, which is just now kicking off, coincides this year with historically low interest rates, so we are keen to see how this motivates both buyers and sellers. Overall, town-by-town data paints an inconsistent picture in the first quarter: Towns of Note Bernards Township, Madison and Summit are almost always solid performers, across all price ranges. Their vibrant downtowns, diverse housing stock and relative ease of access to transportation contribute to yearover-year gains more often than not. However, in the first quarter of 2019, all three towns showed declines in sales in every price range, and a commensurate rise in month’s supply. This shift could denote a natural and healthy balancing, but these towns are often a harbinger for the broader market so we will be watching them closely. Some Good News The Chathams, Florham Park, New Providence and Morristown all turned in much better results during the first quarter of 2019 than they had for the same period last year. Chatham Township was a notable success with an overall increase of 33%, increased sales in every price range, and low to balanced month’s supply. Harding Township had three times as many sales under $1 million as compared with the same period last year, and the sometimes-sleepy Far Hills posted strong first-quarter sales, largely due to increased activity among the townhomes at the Polo Club. Chester Borough made strong gains as well, and now enjoys a very healthy five months supply for homes priced under $1 million. Possible Market Corrections? Some towns that have traditionally performed well across all price ranges instead posted disparate results during the first quarter. For example, in Millburn/Short Hills-- often the envy of the high-end market-- yearover-year sales decreased by 40% over $1 million, yet increased by 75% for homes priced under $1 million. Westfield and Warren posted similar increases in volume for homes priced under $1 million (+43% and +48%, respectively), while at the same time their $1 million - $2 million segment dropped by 25% and 57% respectively. While outcomes were variable across our markets during the first quarter of 2019, as is sometimes the case, second quarter volume often levels out those peaks, so we anticipate a clearer picture will emerge as the spring progresses. In the million-plus price range, where we saw some high performers fall short of past performance, overzealous pricing could be at play. As always, the lesson to sellers is to remain conscious of right pricing. Properties that are priced correctly for the current market will be selected by buyers, who in today’s market have many options available. A Turpin agent can help you assess how today’s conditions affect your particular position. I hope you will not hesitate to call on one of us to assist you.
John Turpin, President
www.TurpinRealtors.com/Reports © 2019 Turpin Realtors
Source: GSMLS 4/8/19 & Trendgraphix
CONTENTS
FIRST QUARTER MARKET REPORT 2019
Bedminster Berkeley Heights Bernards Twp. Bernardsville 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 Morris Twp.
Morristown New Providence Peapack-Gladstone Randolph Twp. Readington Twp. Summit Tewksbury Twp. Warren Washington Twp. Watchung Westfield
Pictured clockwise from top left: 39 Lamington Rd, Readington Twp. NJ; 1 Sugar Maple Row, Chester Twp. NJ; 21 Oak Hill Rd, Chatham Twp. NJ.
BEDMINSTER FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
41 37 10.8%
TOTAL DOLLAR VOLUME
$17,293,398 $13,418,908 28.9%
MEDIAN SALE PRICE
$302,500 $325,000 -6.9%
AVERAGE SALE PRICE
$421,790 $362,673 16.3%
AVERAGE DAYS ON MARKET
99 58 70.7%
% SALES PRICE TO LIST PRICE
94.0% 96.9% -3.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
1 0
YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
ç
ç
ç
39 37
YTD
2018
$2,000,000-$2,999,999
1 0
50.0%
5.4%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
41 13.00 3.15
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
9 0.33 27.00
$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
MONTH’S SUPPLY
4 0.33 12.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
BERKELEY HEIGHTS FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
34 32 6.3%
TOTAL DOLLAR VOLUME
$18,245,876 $17,687,500 3.2%
MEDIAN SALE PRICE
$497,000 $570,000 -12.8%
AVERAGE SALE PRICE
$536,643 $552,734 -2.9%
AVERAGE DAYS ON MARKET
78 70 11.4%
% SALES PRICE TO LIST PRICE
97.7% 98.2% -0.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
34 31
YTD
2018
0 1
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
100.0%
9.7%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
66 11.33 5.82
INVENTORY
AVG SALES PER MONTH
5 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
BERNARDS TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
63 72 -12.5%
TOTAL DOLLAR VOLUME
$34,630,652 $43,519,400 -20.4%
MEDIAN SALE PRICE
$505,000 $531,000 -4.9%
AVERAGE SALE PRICE
$549,692 $604,436 -9.1%
AVERAGE DAYS ON MARKET
69 67 3.0%
% SALES PRICE TO LIST PRICE
96.1% 96.8% -0.7%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
6 8
YTD
2019
YTD
2018
0 1
25.0%
9.5%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
57 63
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
120 19.00 6.32
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
48 2.00 24.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
∞
4 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
∞
1 0.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
BERNARDSVILLE FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
22 23 -4.3%
TOTAL DOLLAR VOLUME
$13,142,500 $17,951,720 -26.8%
MEDIAN SALE PRICE
$629,500 $553,000 13.8%
AVERAGE SALE PRICE
$597,386 $780,509 -23.5%
AVERAGE DAYS ON MARKET
65 89 -27.0%
% SALES PRICE TO LIST PRICE
94.7% 91.8% 3.1%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
2 5
17.6%
YTD
2019
YTD
2018
0 1
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
20 17
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
60.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
43 6.67 6.45
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
38 0.67 57.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
∞
12 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
∞
3 0.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CALIFON FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
2 2 0.0%
TOTAL DOLLAR VOLUME
$688,000 $616,000 11.7%
MEDIAN SALE PRICE
$344,000 $308,000 11.7%
AVERAGE SALE PRICE
$344,000 $308,000 11.7%
AVERAGE DAYS ON MARKET
151 85 77.6%
% SALES PRICE TO LIST PRICE
99.9% 97.2% 2.8%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
2 2
YTD
2019
NC
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 0.67 10.50
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CHATHAM BORO FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
17 15 13.3%
TOTAL DOLLAR VOLUME
$13,856,799 $12,158,500 14.0%
MEDIAN SALE PRICE
$700,000 $775,000 -9.7%
AVERAGE SALE PRICE
$815,105 $810,566 0.6%
AVERAGE DAYS ON MARKET
69 93 -25.8%
% SALES PRICE TO LIST PRICE
97.7% 99.1% -1.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
3 4
YTD
2019
YTD
2018
1 0
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
13 11
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
25.0%
18.2%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
25 4.33 5.77
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
18 1.00 18.00
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CHATHAM TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
36 27 33.3%
TOTAL DOLLAR VOLUME
$39,231,504 $30,581,000 28.3%
MEDIAN SALE PRICE
$750,500 $985,000 -23.8%
AVERAGE SALE PRICE
$1,089,764 $1,132,629 -3.8%
AVERAGE DAYS ON MARKET
74 34 117.6%
% SALES PRICE TO LIST PRICE
96.4% 99.5% -3.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
10 9
YTD
2019
YTD
2018
6 4
11.1%
42.9%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
20 14
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
50.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 6.67 3.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
24 3.33 7.20
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
15 2.00 7.50
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
∞
2 0.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CHESTER BORO FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
7 2 250.0%
TOTAL DOLLAR VOLUME
$3,586,500 $1,040,000 244.9%
MEDIAN SALE PRICE
$520,000 $520,000 0.0%
AVERAGE SALE PRICE
$512,357 $520,000 -1.5%
AVERAGE DAYS ON MARKET
108 28 285.7%
% SALES PRICE TO LIST PRICE
95.9% 99.1% -3.2%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
ç
7 2
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
250.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 2.33 5.14
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CHESTER TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
22 22 0.0%
TOTAL DOLLAR VOLUME
$14,881,899 $10,885,705 36.7%
MEDIAN SALE PRICE
$633,000 $477,500 32.6%
AVERAGE SALE PRICE
$676,449 $494,805 36.7%
AVERAGE DAYS ON MARKET
84 92 -8.7%
% SALES PRICE TO LIST PRICE
96.7% 97.0% -0.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
19 21
YTD
2018
3 1
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
200.0%
9.5%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
57 6.33 9.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 1.00 15.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
3 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CLINTON TOWN FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
3 8 -62.5%
TOTAL DOLLAR VOLUME
$1,177,000 $1,887,250 -37.6%
MEDIAN SALE PRICE
$372,000 $268,750 38.4%
AVERAGE SALE PRICE
$392,333 $235,906 66.3%
AVERAGE DAYS ON MARKET
54 64 -15.6%
% SALES PRICE TO LIST PRICE
99.4% 96.3% 3.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
3 8
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
62.5%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 1.00 14.00
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
CLINTON TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
30 30 0.0%
TOTAL DOLLAR VOLUME
$11,658,575 $10,770,700 8.2%
MEDIAN SALE PRICE
$383,750 $365,000 5.1%
AVERAGE SALE PRICE
$388,619 $359,023 8.2%
AVERAGE DAYS ON MARKET
87 86 1.2%
% SALES PRICE TO LIST PRICE
96.1% 97.6% -1.6%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
30 30
YTD
2019
NC
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
74 10.00 7.40
INVENTORY
AVG SALES PER MONTH
1 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
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
FAR HILLS FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
6 0
ç
TOTAL DOLLAR VOLUME
$4,186,677 $0
ç
MEDIAN SALE PRICE
$595,000 $0
ç
AVERAGE SALE PRICE
$697,779 $0
ç
AVERAGE DAYS ON MARKET
91 0
ç
% SALES PRICE TO LIST PRICE
94.5% 0.0%
ç
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2018
% CHANGE
ç
ç
5 0
YTD
2019
1 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 1.67 3.60
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 0.33 12.00
$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
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
FLORHAM PARK FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
30 29 3.4%
TOTAL DOLLAR VOLUME
$24,050,314 $19,747,176 21.8%
MEDIAN SALE PRICE
$745,000 $640,000 16.4%
AVERAGE SALE PRICE
$801,677 $680,937 17.7%
AVERAGE DAYS ON MARKET
90 94 -4.3%
% SALES PRICE TO LIST PRICE
96.5% 97.5% -1.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
6 4
YTD
2019
YTD
2018
1 0
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
23 25
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
50.0%
8.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 7.67 2.61
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 2.00 7.50
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
HARDING TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
13 8 62.5%
TOTAL DOLLAR VOLUME
$15,682,000 $14,112,500 11.1%
MEDIAN SALE PRICE
$900,000
AVERAGE SALE PRICE
$1,206,307 $1,764,062 -31.6%
AVERAGE DAYS ON MARKET
117 114 2.6%
% SALES PRICE TO LIST PRICE
90.3% 91.9% -1.7%
$1,702,500 -47.1%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
ç
ç
9 3
YTD
2018
2 3
200.0%
$2,000,000-$2,999,999 YTD
2019
YTD
2018
1 1
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
1 1
NC
33.3%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
9 3.00 3.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 0.67 18.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
8 0.33 24.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 0.33 36.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
LEBANON BORO FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
1 6 -83.3%
TOTAL DOLLAR VOLUME
$164,000
MEDIAN SALE PRICE
$164,000 $284,125 -42.3%
AVERAGE SALE PRICE
$164,000 $285,589 -42.6%
AVERAGE DAYS ON MARKET
0
% SALES PRICE TO LIST PRICE
99.4% 99.7% -0.3%
$1,713,538 -90.4%
43 -100.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
1 6
$2,000,000-$2,999,999
% CHANGE
YTD
2018
YTD
2019
NC
0 0
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
83.3%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
9 0.33 27.00
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
LEBANON TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
15 19 -21.1%
TOTAL DOLLAR VOLUME
$4,430,000 $7,517,443 -41.1%
MEDIAN SALE PRICE
$277,000 $403,669 -31.4%
AVERAGE SALE PRICE
$295,333 $395,654 -25.4%
AVERAGE DAYS ON MARKET
78 94 -17.0%
% SALES PRICE TO LIST PRICE
98.0% 99.8% -1.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
15 19
YTD
2018
$2,000,000-$2,999,999
% CHANGE
YTD
2019
NC
0 0
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
21.1%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
41 5.00 8.20
INVENTORY
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
LONG HILL TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
18 26 -30.8%
TOTAL DOLLAR VOLUME
$8,835,500
MEDIAN SALE PRICE
$465,000 $465,000 0.0%
AVERAGE SALE PRICE
$490,861 $489,717 0.2%
AVERAGE DAYS ON MARKET
63 59 6.8%
% SALES PRICE TO LIST PRICE
95.6% 97.3% -1.7%
$12,732,650 -30.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
18 26
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
30.8%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
38 6.00 6.33
INVENTORY
AVG SALES PER MONTH
1 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MADISON FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
17 37 -54.1%
TOTAL DOLLAR VOLUME
$13,194,500 $32,869,900 -59.9%
MEDIAN SALE PRICE
$690,000 $780,000 -11.5%
AVERAGE SALE PRICE
$776,147 $888,375 -12.6%
AVERAGE DAYS ON MARKET
51 44 15.9%
% SALES PRICE TO LIST PRICE
96.9% 97.2% -0.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2018
% CHANGE
YTD
2019
YTD
2018
0 1
66.7%
45.8%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
4 12
ç
13 24
YTD
2019
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
41 4.33 9.46
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
22 1.33 16.50
$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
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MAPLEWOOD FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
67 69 -2.9%
TOTAL DOLLAR VOLUME
$37,125,040 $37,261,328 -0.4%
MEDIAN SALE PRICE
$499,000 $550,000 -9.3%
AVERAGE SALE PRICE
$554,105 $540,019 2.6%
AVERAGE DAYS ON MARKET
44 37 18.9%
% SALES PRICE TO LIST PRICE
100.4% 101.6% -1.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
YTD
2019
ç
ç
63 66
YTD
2018
$2,000,000-$2,999,999
4 3
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
33.3%
4.5%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
66 21.00 3.14
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 1.33 4.50
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MENDHAM BORO FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
16 17 -5.9%
TOTAL DOLLAR VOLUME
$11,306,500 $14,728,099 -23.2%
MEDIAN SALE PRICE
$675,000 $586,099 15.2%
AVERAGE SALE PRICE
$706,656 $866,358 -18.4%
AVERAGE DAYS ON MARKET
97
% SALES PRICE TO LIST PRICE
95.5% 90.1% 6.0%
103 -5.8%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
% CHANGE
YTD
2018
0 1
% CHANGE
YTD
2019
YTD
2018
0 1
100.0%
100.0%
% CHANGE
ç
2 1
YTD
2019
$3,000,000 AND UP
ç
NC
YTD
2018
ç
14 14
YTD
2019
$2,000,000-$2,999,999
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
38 4.67 8.14
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 0.67 18.00
$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
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MENDHAM TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
17 19 -10.5%
TOTAL DOLLAR VOLUME
$13,678,150 $16,553,750 -17.4%
MEDIAN SALE PRICE
$685,000 $735,000 -6.8%
AVERAGE SALE PRICE
$804,597 $871,250 -7.7%
AVERAGE DAYS ON MARKET
74
% SALES PRICE TO LIST PRICE
94.8% 92.1% 2.9%
178 -58.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE NC
4 4
YTD
2019
YTD
2018
0 1
7.1%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
13 14
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
48 4.33 11.08
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
27 1.33 20.25
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
3 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MILLBURN FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
43 41 4.9%
TOTAL DOLLAR VOLUME
$44,752,136 $68,249,000 -34.4%
MEDIAN SALE PRICE
$865,000
AVERAGE SALE PRICE
$1,040,747 $1,664,609 -37.5%
AVERAGE DAYS ON MARKET
64 67 -4.5%
% SALES PRICE TO LIST PRICE
94.7% 93.8% 0.9%
$1,310,000 -34.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
YTD
2018
2 5
25.0%
75.0%
% CHANGE
YTD
2019
YTD
2018
% CHANGE
ç
12 16
YTD
2019
$3,000,000 AND UP
ç
ç
ç
28 16
YTD
2018
$2,000,000-$2,999,999
1 4
75.0%
60.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
30 9.33 3.21
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
62 4.00 15.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
37 0.67 55.50
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 0.33 36.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MORRIS PLAINS FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
15 18 -16.7%
TOTAL DOLLAR VOLUME
$7,098,900 $8,604,400 -17.5%
MEDIAN SALE PRICE
$465,000 $487,450 -4.6%
AVERAGE SALE PRICE
$473,260 $478,022 -1.0%
AVERAGE DAYS ON MARKET
38 50 -24.0%
% SALES PRICE TO LIST PRICE
99.0% 98.2% 0.9%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
15 18
$2,000,000-$2,999,999
% CHANGE
YTD
2018
YTD
2019
NC
0 0
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
16.7%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 5.00 3.00
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MORRIS TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
48 74 -35.1%
TOTAL DOLLAR VOLUME
$29,822,574 $45,221,616 -34.1%
MEDIAN SALE PRICE
$608,725 $546,500 11.4%
AVERAGE SALE PRICE
$621,303 $611,102 1.7%
AVERAGE DAYS ON MARKET
68 67 1.5%
% SALES PRICE TO LIST PRICE
97.4% 97.8% -0.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
4 5
YTD
2019
YTD
2018
0 1
20.0%
35.3%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
44 68
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
69 14.67 4.70
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
16 1.33 12.00
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
MORRISTOWN FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
25 23 8.7%
TOTAL DOLLAR VOLUME
$11,285,800 $8,926,995 26.4%
MEDIAN SALE PRICE
$435,000 $363,500 19.7%
AVERAGE SALE PRICE
$451,432 $388,130 16.3%
AVERAGE DAYS ON MARKET
52 41 26.8%
% SALES PRICE TO LIST PRICE
98.1% 99.3% -1.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
25 23
YTD
2018
% CHANGE
0 0
NC
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
8.7%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
34 8.33 4.08
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
© 2019 Turpin Realtors
Source: GSMLS 4/8/19 & Trendgraphix
NEW PROVIDENCE FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
19 16 18.8%
TOTAL DOLLAR VOLUME
$11,329,400 $9,505,200 19.2%
MEDIAN SALE PRICE
$619,000 $542,500 14.1%
AVERAGE SALE PRICE
$596,284 $594,075 0.4%
AVERAGE DAYS ON MARKET
70 41 70.7%
% SALES PRICE TO LIST PRICE
97.2% 97.7% -0.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
19 16
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
18.8%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
59 6.33 9.32
INVENTORY
AVG SALES PER MONTH
8 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
PEAPACK-GLADSTONE FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
7 5 40.0%
TOTAL DOLLAR VOLUME
$4,734,000 $6,020,000 -21.4%
MEDIAN SALE PRICE
$775,000
$1,150,000 -32.6%
AVERAGE SALE PRICE
$676,285
$1,204,000 -43.8%
AVERAGE DAYS ON MARKET
121 284 -57.4%
% SALES PRICE TO LIST PRICE
97.3% 94.2% 3.3%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
ç
ç
7 2
YTD
2018
0 3
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
100.0%
250.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
18 2.33 7.71
INVENTORY
AVG SALES PER MONTH
2 0.00
MONTH’S SUPPLY
∞
$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
3 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
RANDOLPH TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
44 53 -17.0%
TOTAL DOLLAR VOLUME
$20,689,070 $27,675,592 -25.2%
MEDIAN SALE PRICE
$441,125 $499,900 -11.8%
AVERAGE SALE PRICE
$470,206 $522,181 -10.0%
AVERAGE DAYS ON MARKET
63 58 8.6%
% SALES PRICE TO LIST PRICE
96.4% 97.5% -1.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2018
% CHANGE
ç
1 0
ç
43 53
YTD
2019
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
18.9%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
98 14.33 6.84
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
3 0.33 9.00
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
READINGTON TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
37 39 -5.1%
TOTAL DOLLAR VOLUME
$16,824,008 $15,468,918 8.8%
MEDIAN SALE PRICE
$450,000 $377,500 19.2%
AVERAGE SALE PRICE
$454,702 $396,638 14.6%
AVERAGE DAYS ON MARKET
80 43 86.0%
% SALES PRICE TO LIST PRICE
96.3% 97.9% -1.7%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
37 39
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
5.1%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
83 12.33 6.73
INVENTORY
AVG SALES PER MONTH
2 0.00
MONTH’S SUPPLY
∞
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
SUMMIT FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
41 55 -25.5%
TOTAL DOLLAR VOLUME
$43,401,848 $61,980,124 -30.0%
MEDIAN SALE PRICE
$926,000 $850,000 8.9%
AVERAGE SALE PRICE
$1,058,581 $1,126,911 -6.1%
AVERAGE DAYS ON MARKET
51 61 -16.4%
% SALES PRICE TO LIST PRICE
96.5% 96.5% 0.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
12 14
YTD
2019
YTD
2018
0 7
14.3%
15.6%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
27 32
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
2 2
NC
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
37 9.00 4.11
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
39 4.00 9.75
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
12 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 0.67 9.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
TEWKSBURY TWP. FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
17 18 -5.6%
TOTAL DOLLAR VOLUME
$16,119,400 $12,044,025 33.8%
MEDIAN SALE PRICE
$557,000 $596,125 -6.6%
AVERAGE SALE PRICE
$948,200 $669,112 41.7%
AVERAGE DAYS ON MARKET
87
% SALES PRICE TO LIST PRICE
94.0% 97.5% -3.6%
110 -20.9%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
2 1
17.6%
YTD
2019
YTD
2018
0 0
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
1 0
ç
ç
ç
14 17
YTD
2018
$3,000,000 AND UP
$2,000,000-$2,999,999
100.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
62 4.67 13.29
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 0.67 30.00
$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
2 0.33 6.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
WARREN FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
34 28 21.4%
TOTAL DOLLAR VOLUME
$26,072,524 $23,107,964 12.8%
MEDIAN SALE PRICE
$770,500 $801,000 -3.8%
AVERAGE SALE PRICE
$766,838 $825,284 -7.1%
AVERAGE DAYS ON MARKET
76
% SALES PRICE TO LIST PRICE
95.7% 97.0% -1.4%
108 -29.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
% CHANGE
3 7
ç
31 21
YTD
2018
47.6%
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
57.1%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
64 10.33 6.19
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
46 1.00 46.00
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
WASHINGTON TWP. (MORRIS COUNTY) FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
38 48 -20.8%
TOTAL DOLLAR VOLUME
$15,938,164 $21,524,330 -26.0%
MEDIAN SALE PRICE
$411,950 $440,903 -6.6%
AVERAGE SALE PRICE
$419,425 $448,423 -6.5%
AVERAGE DAYS ON MARKET
83 71 16.9%
% SALES PRICE TO LIST PRICE
97.0% 96.4% 0.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
38 48
YTD
2018
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
20.8%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
115 12.67 9.08
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
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
WATCHUNG FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
8
TOTAL DOLLAR VOLUME
$5,303,000 $5,862,999 -9.6%
MEDIAN SALE PRICE
$585,000 $575,000 1.7%
AVERAGE SALE PRICE
$662,875 $586,299 13.1%
AVERAGE DAYS ON MARKET
90
% SALES PRICE TO LIST PRICE
97.9% 94.8% 3.2%
10 -20.0%
120 -25.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
7 10
YTD
2018
1 0
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
30.0%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
30 2.33 12.86
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
21 0.33 63.00
$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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
WESTFIELD FIRST QUARTER MARKET REPORT 2019
Overview Q1 2018
Q1 2019
% CHANGE
HOMES SOLD
72 56 28.6%
TOTAL DOLLAR VOLUME
$54,350,100 $41,294,000 31.6%
MEDIAN SALE PRICE
$695,000 $647,500 7.3%
AVERAGE SALE PRICE
$754,862 $737,392 2.4%
AVERAGE DAYS ON MARKET
69 52 32.7%
% SALES PRICE TO LIST PRICE
97.2% 97.1% 0.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
63 44
YTD
2018
9 12
$2,000,000-$2,999,999 YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
25.0%
43.2%
Supply and Demand (as of March 31, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
107 21.00 5.10
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
72 3.00 24.00
$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
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/19 & Trendgraphix
Market Leading Global Networks
www.TurpinRealtors.com Bernardsville 908-766-6500
Mendham 973-543-7400
Far Hills 908-234-9100
Chatham 973-635-5555
Oldwick 908-439-3300