Q1 MA R KET R EPO RT 2020
FIRST QUARTER MARKET REPORT 2020
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 4/8/20. 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.
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
COMMENTARY FIRST QUARTER MARKET REPORT 2020 As you may know, the first ten weeks of 2020 were incredibly strong for our regional real estate market. Even after the federal government’s declaration of a national emergency on March 13, home sales during the last two weeks of the quarter were barely affected. As such, this first quarter report largely reflects the year that would have been, and not the year that is now before us. While there can be no denying the effect of coronavirus on our market, we take heart in the enduring strength and beauty of our communities, which will position us for a strong recovery when the pandemic has passed. In order to assess the COVID-19 impact in greater detail, we have supplemented our customary first-quarter data with several new charts that document the four weeks ending April 15th across three categories we commonly use to measure the health of real estate markets: new listings, contracts, and unit sales. We’ve examined county-level data for Hunterdon, Somerset and Morris, plus a selection of towns that span both Essex and Union counties but are very much a part of our market area: Millburn/Short Hills, Summit, Berkeley Heights and New Providence. In each category, we see a marked change in activity between late March and early April. For example, whereas unit sales in late March increased year over year for the entire study area, by April they began to lag and ultimately to fall behind the prior year’s performance. Only Hunterdon county remained in positive territory for unit sales in early April, while Somerset was flat. Of the three categories we studied, the most dramatic decline was seen in the volume of new listings. This was true across all areas in both late March and early April. With social distancing firmly in place and nonessential business on pause, it stands to reason that homeowners who were not under pressure to sell would opt to forego listing their homes. The reduced inventory that results is a favorable development for those sellers who have chosen to remain on the market. As for contracts pended year over year, the pandemic caused an immediate decline during late March across the study area, a trend that continued to slip thereafter. By April, contracts in Morris and Somerset counties had dropped approximately 60% year over year. The Essex/Union sampling showed the steepest decline in pended contracts (-78% year over year). In Hunterdon County, which is less proximate to the epicenter of the disease, the impact was less pronounced during early April (-40% year over year). In contrast to these sobering numbers, we are pleased to credit the creativity and determination of the many agents, buyers and sellers who, since March 17th have held together 869 deals through closing, brought to market 914 new listings and recorded contracts on 776 homes in the area studied. While no one can know exactly what the path to recovery will look like, there is one thing we are absolutely sure of: our market will recover. Some of the earliest hit parts of the U.S., like King County, Washington (home to Seattle) are already showing signs of recovery. While we watch those areas for clues about how our market will behave, major disruptions have historically led to heightened buyer activity in New Jersey. Indeed, the more optimistic among us could reasonably posit that the trend toward urban living, which has challenged the region for some time, may soon shift to favor our area, which has so much to offer, like more open space. Turpin agents continue to monitor the situation closely and are available to help you navigate this changing landscape. Please do not hesitate to call upon us.
John Turpin, President www.TurpinRealtors.com/Reports © 2020 Turpin Realtors
Source: GSMLS 4/16/20
COVID-19 SUPPLEMENT 4 WEEKS ENDING APRIL 15, 2020
Unit Sales (% change year over year)
New Listings (% change year over year)
Contracts Pended (% change year over year)
* Select Essex / Union: Millburn/Short Hills, Summit, Berkeley Heights and New Providence © 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/21/20
CONTENTS
FIRST QUARTER MARKET REPORT 2020
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
Morris Twp. Morristown Mountain Lakes New Providence Peapack-Gladstone Randolph Twp. Readington Twp. Summit Tewksbury Twp. Warren Washington Twp. Watchung Westfield
Pictured clockwise from top left: The Heritage, 80 Claremont Rd. Bernardsville NJ; 103 Summit Ave, Chatham Boro, NJ; 6 Nesbitt Dr, Mendham Twp., NJ. Cover: 73-2 Post Kunhardt Rd, Bernardsville, NJ
BEDMINSTER FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
41 41 0.0%
TOTAL DOLLAR VOLUME
$15,482,800 $17,293,398 -10.5%
MEDIAN SALE PRICE
$320,000 $302,500 5.8%
AVERAGE SALE PRICE
$377,629 $421,790 -10.5%
AVERAGE DAYS ON MARKET
50 99 -49.5%
% SALES PRICE TO LIST PRICE
97.3% 94.0% 3.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
0 1
YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
0 1
100.0%
100.0%
5.1%
% CHANGE
ç
ç
ç
41 39
YTD
2019
$2,000,000-$2,999,999
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
42 13.67 3.07
INVENTORY
AVG SALES PER MONTH
9 0.00
MONTH’S SUPPLY
∞
$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
3 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
BERKELEY HEIGHTS FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
33 34 -2.9%
TOTAL DOLLAR VOLUME
$18,011,750 $18,245,876 -1.3%
MEDIAN SALE PRICE
$550,000 $497,000 10.7%
AVERAGE SALE PRICE
$545,810 $536,643 1.7%
AVERAGE DAYS ON MARKET
82 78 5.1%
% SALES PRICE TO LIST PRICE
97.0% 97.7% -0.7%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
33 34
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
2.9%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
42 11.00 3.82
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
BERNARDS TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
76 63 20.6%
TOTAL DOLLAR VOLUME
$46,982,472 $34,630,652 35.7%
MEDIAN SALE PRICE
$590,000 $505,000 16.8%
AVERAGE SALE PRICE
$618,190 $549,692 12.5%
AVERAGE DAYS ON MARKET
84 69 21.7%
% SALES PRICE TO LIST PRICE
96.0% 96.1% -0.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
5 6
YTD
2020
YTD
2019
1 0
$3,000,000 AND UP
% CHANGE
YTD
2020
ç
ç
ç
70 57
YTD
2019
$2,000,000-$2,999,999
YTD
2019
% CHANGE
0 0
NC
16.7%
22.8%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
87 23.33 3.73
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
18 1.67 10.80
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
1 0.33 3.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
BERNARDSVILLE FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
22 22 0.0%
TOTAL DOLLAR VOLUME
$14,961,665 $13,142,500 13.8%
MEDIAN SALE PRICE
$528,000 $629,500 -16.1%
AVERAGE SALE PRICE
$680,075 $597,386 13.8%
AVERAGE DAYS ON MARKET
100 65 53.8%
% SALES PRICE TO LIST PRICE
95.5% 94.7% 0.8%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
ç
ç
18 20
YTD
2019
4 2
10.0%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
53 6.00 8.83
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
35 1.33 26.25
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
∞
8 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
∞
3 0.00
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
BOONTON TOWN FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
15 15 0.0%
TOTAL DOLLAR VOLUME
$6,198,500 $5,692,777 8.9%
MEDIAN SALE PRICE
$417,500 $390,000 7.1%
AVERAGE SALE PRICE
$413,233 $379,518 8.9%
AVERAGE DAYS ON MARKET
52 71 -26.8%
% SALES PRICE TO LIST PRICE
98.3% 98.9% -0.7%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
15 15
YTD
2020
NC
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 5.00 4.60
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
BOONTON TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
12 13 -7.7%
TOTAL DOLLAR VOLUME
$3,893,000 $7,759,000 -49.8%
MEDIAN SALE PRICE
$353,750 $560,000 -36.8%
AVERAGE SALE PRICE
$324,416 $596,846 -45.6%
AVERAGE DAYS ON MARKET
94 77 22.1%
% SALES PRICE TO LIST PRICE
93.9% 94.9% -1.1%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE NC
YTD
2019
% CHANGE
ç
12 12
YTD
2020
0 1
0%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
22 4.00 5.50
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
∞
1 0.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
∞
2 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
BRIDGEWATER TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
97 89 9.0%
TOTAL DOLLAR VOLUME
$45,969,852 $42,033,636 9.4%
MEDIAN SALE PRICE
$443,000 $427,500 3.6%
AVERAGE SALE PRICE
$473,916 $472,288 0.3%
AVERAGE DAYS ON MARKET
61 75 -18.7%
% SALES PRICE TO LIST PRICE
97.5% 97.5% 0.0%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
ç
ç
94 84
YTD
2019
3 5
11.9%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
40.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
114 31.33 3.64
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
0 0.00 N/A
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CALIFON FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
4 2 100.0%
TOTAL DOLLAR VOLUME
$1,090,000 $688,000 58.4%
MEDIAN SALE PRICE
$246,250 $344,000 -28.4%
AVERAGE SALE PRICE
$272,500 $344,000 -20.8%
AVERAGE DAYS ON MARKET
71
% SALES PRICE TO LIST PRICE
98.5% 99.9% -1.4%
151 -53.0%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
ç
4 2
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
9 1.33 6.75
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CHATHAM BORO FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
13 17 -23.5%
TOTAL DOLLAR VOLUME
$9,681,300
MEDIAN SALE PRICE
$630,400 $700,000 -9.9%
AVERAGE SALE PRICE
$744,715 $815,105 -8.6%
AVERAGE DAYS ON MARKET
65 69 -5.8%
% SALES PRICE TO LIST PRICE
96.1% 97.7% -1.6%
$13,856,799 -30.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
2 3
YTD
2020
YTD
2019
0 1
33.3%
15.4%
$3,000,000 AND UP
% CHANGE
YTD
2020
ç
ç
ç
11 13
YTD
2019
$2,000,000-$2,999,999
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 3.67 5.45
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
13 0.67 19.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
∞
1 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CHATHAM TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
25 36 -30.6%
TOTAL DOLLAR VOLUME
$28,660,276 $39,231,504 -26.9%
MEDIAN SALE PRICE
$985,000 $750,500 31.2%
AVERAGE SALE PRICE
$1,146,411 $1,089,764 5.2%
AVERAGE DAYS ON MARKET
57 74 -23.0%
% SALES PRICE TO LIST PRICE
96.5% 96.4% 0.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2019
% CHANGE
ç
6 10
ç
13 20
YTD
2020
35.0%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
6 6
40.0%
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
29 4.33 6.69
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
26 2.00 13.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
12 2.00 6.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
∞
1 0.00
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CHESTER BORO FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
5 7 -28.6%
TOTAL DOLLAR VOLUME
$1,902,000 $3,586,500 -47.0%
MEDIAN SALE PRICE
$400,000 $520,000 -23.1%
AVERAGE SALE PRICE
$380,400 $512,357 -25.8%
AVERAGE DAYS ON MARKET
83
% SALES PRICE TO LIST PRICE
97.3% 95.9% 1.5%
108 -23.1%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
ç
5 7
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
28.6%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
16 1.67 9.60
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CHESTER TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
22 22 0.0%
TOTAL DOLLAR VOLUME
$11,572,709 $14,881,899 -22.2%
MEDIAN SALE PRICE
$557,125 $633,000 -12.0%
AVERAGE SALE PRICE
$526,032 $676,449 -22.2%
AVERAGE DAYS ON MARKET
94 84 11.9%
% SALES PRICE TO LIST PRICE
97.1% 96.7% 0.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
22 19
YTD
2019
0 3
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
15.8%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
64 7.33 8.73
INVENTORY
AVG SALES PER MONTH
11 0.00
MONTH’S SUPPLY
∞
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CLINTON TOWN FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
12 3 300.0%
TOTAL DOLLAR VOLUME
$3,827,100 $1,177,000 225.2%
MEDIAN SALE PRICE
$329,500 $372,000 -11.4%
AVERAGE SALE PRICE
$318,925 $392,333 -18.7%
AVERAGE DAYS ON MARKET
72 54 33.3%
% SALES PRICE TO LIST PRICE
98.0% 99.4% -1.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
12 3
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
300.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 4.00 2.50
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
CLINTON TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
27 30 -10.0%
TOTAL DOLLAR VOLUME
$9,389,300
MEDIAN SALE PRICE
$325,000 $383,750 -15.3%
AVERAGE SALE PRICE
$347,751 $388,619 -10.5%
AVERAGE DAYS ON MARKET
53 87 -39.1%
% SALES PRICE TO LIST PRICE
96.6% 96.1% 0.6%
$11,658,575 -19.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
27 30
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
10.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
59 9.00 6.56
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
0
AVG SALES PER MONTH
0.00
MONTH’S SUPPLY
N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
FAR HILLS FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
3 6 -50.0%
TOTAL DOLLAR VOLUME
$3,270,000 $4,186,677 -21.9%
MEDIAN SALE PRICE
$705,000 $595,000 18.5%
AVERAGE SALE PRICE
$1,090,000 $697,779 56.2%
AVERAGE DAYS ON MARKET
160 91 75.8%
% SALES PRICE TO LIST PRICE
88.5% 94.5% -6.3%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
ç
2 5
YTD
2019
% CHANGE NC
1 1
60.0%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
0%
Supply and Demand (as of March 31, 2020) $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
2 0.33 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
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
FLORHAM PARK FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
17 30 -43.3%
TOTAL DOLLAR VOLUME
$12,226,551 $24,050,314 -49.2%
MEDIAN SALE PRICE
$675,000 $745,000 -9.4%
AVERAGE SALE PRICE
$719,208 $801,677 -10.3%
AVERAGE DAYS ON MARKET
52 90 -42.2%
% SALES PRICE TO LIST PRICE
96.8% 96.5% 0.3%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
3 6
39.1%
YTD
2020
YTD
2019
0 1
50.0%
$3,000,000 AND UP
% CHANGE
YTD
2020
ç
ç
ç
14 23
YTD
2019
$2,000,000-$2,999,999
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 4.67 4.93
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 1.00 10.00
$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
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
HARDING TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
16 13 23.1%
TOTAL DOLLAR VOLUME
$17,028,250 $15,682,000 8.6%
MEDIAN SALE PRICE
$990,000 $900,000 10.0%
AVERAGE SALE PRICE
$1,064,265 $1,206,307 -11.8%
AVERAGE DAYS ON MARKET
129 117 10.3%
% SALES PRICE TO LIST PRICE
91.9% 90.3% 1.7%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
7 2
YTD
2020
YTD
2019
1 1
250.0%
11.1%
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
ç
ç
ç
8 9
YTD
2019
$3,000,000 AND UP
$2,000,000-$2,999,999
0 1
100.0%
0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 2.67 1.50
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 2.33 4.29
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
10 0.33 30.00
INVENTORY
AVG SALES PER MONTH
6 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
LEBANON BORO FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
4 1 300.0%
TOTAL DOLLAR VOLUME
$1,078,000 $164,000 557.3%
MEDIAN SALE PRICE
$265,500 $164,000 61.9%
AVERAGE SALE PRICE
$269,500 $164,000 64.3%
AVERAGE DAYS ON MARKET
63 0
% SALES PRICE TO LIST PRICE
96.3% 99.4% -3.1%
ç
HOMES SOLD
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
4 1
$2,000,000-$2,999,999
% CHANGE
YTD
2019
YTD
2020
NC
0 0
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
300.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
6 1.33 4.50
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
LEBANON TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
18 15 20.0%
TOTAL DOLLAR VOLUME
$7,100,633 $4,430,000 60.3%
MEDIAN SALE PRICE
$446,950 $277,000 61.4%
AVERAGE SALE PRICE
$394,479 $295,333 33.6%
AVERAGE DAYS ON MARKET
110 78 41.0%
% SALES PRICE TO LIST PRICE
94.2% 98.0% -3.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
18 15
$2,000,000-$2,999,999
% CHANGE
YTD
2019
YTD
2020
NC
0 0
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
20.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
21 6.00 3.50
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
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
LONG HILL TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
25 18 38.9%
TOTAL DOLLAR VOLUME
$12,155,000 $8,835,500 37.6%
MEDIAN SALE PRICE
$480,000 $465,000 3.2%
AVERAGE SALE PRICE
$486,200 $490,861 -0.9%
AVERAGE DAYS ON MARKET
86 63 36.5%
% SALES PRICE TO LIST PRICE
96.8% 95.6% 1.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
25 18
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
38.9%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
38 8.33 4.56
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MADISON FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
39 17 129.4%
TOTAL DOLLAR VOLUME
$30,604,400 $13,194,500 131.9%
MEDIAN SALE PRICE
$670,000 $690,000 -2.9%
AVERAGE SALE PRICE
$784,728 $776,147 1.1%
AVERAGE DAYS ON MARKET
73 51 43.1%
% SALES PRICE TO LIST PRICE
95.9% 96.9% -1.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
5 4
YTD
2020
YTD
2019
1 0
$3,000,000 AND UP
% CHANGE
YTD
2020
ç
ç
ç
33 13
YTD
2019
$2,000,000-$2,999,999
YTD
2019
% CHANGE
0 0
NC
25.0%
153.8%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
28 11.00 2.55
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 1.67 7.20
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
3 0.33 9.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MAPLEWOOD FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
64 67 -4.5%
TOTAL DOLLAR VOLUME
$36,604,024 $37,125,040 -1.4%
MEDIAN SALE PRICE
$557,500 $499,000 11.7%
AVERAGE SALE PRICE
$571,937 $554,105 3.2%
AVERAGE DAYS ON MARKET
42 44 -4.5%
% SALES PRICE TO LIST PRICE
102.2% 100.4% 1.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
62 63
YTD
2019
2 4
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
50.0%
1.6%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
33 20.67 1.60
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 0.67 6.00
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MENDHAM BORO FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
10 16 -37.5%
TOTAL DOLLAR VOLUME
$5,264,000
MEDIAN SALE PRICE
$502,500 $675,000 -25.6%
AVERAGE SALE PRICE
$526,400 $706,656 -25.5%
AVERAGE DAYS ON MARKET
155 97 59.8%
% SALES PRICE TO LIST PRICE
97.1% 95.5% 1.7%
$11,306,500 -53.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
10 14
YTD
2019
0 2
28.6%
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 3.33 6.90
INVENTORY
AVG SALES PER MONTH
6 0.00
MONTH’S SUPPLY
∞
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MENDHAM TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
23 17 35.3%
TOTAL DOLLAR VOLUME
$14,924,148 $13,678,150 9.1%
MEDIAN SALE PRICE
$629,000 $685,000 -8.2%
AVERAGE SALE PRICE
$648,876 $804,597 -19.4%
AVERAGE DAYS ON MARKET
78 74 5.4%
% SALES PRICE TO LIST PRICE
94.6% 94.8% -0.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
21 13
YTD
2019
2 4
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
50.0%
61.5%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
30 7.00 4.29
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 0.67 34.50
$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
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MILLBURN FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
52 43 20.9%
TOTAL DOLLAR VOLUME
$64,743,000 $44,752,136 44.7%
MEDIAN SALE PRICE
$1,049,500 $865,000 21.3%
AVERAGE SALE PRICE
$1,245,057 $1,040,747 19.6%
AVERAGE DAYS ON MARKET
75 64 17.2%
% SALES PRICE TO LIST PRICE
97.7% 94.7% 3.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
YTD
2019
11 2
25.0%
7.1%
% CHANGE
YTD
2020
YTD
2019
% CHANGE
ç
15 12
YTD
2020
$3,000,000 AND UP
ç
ç
ç
26 28
YTD
2019
$2,000,000-$2,999,999
0 1
100.0%
450.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
26 8.67 3.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
48 5.00 9.60
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
17 3.67 4.64
INVENTORY
AVG SALES PER MONTH
9 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MORRIS PLAINS FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
17 15 13.3%
TOTAL DOLLAR VOLUME
$8,198,667 $7,098,900 15.5%
MEDIAN SALE PRICE
$486,667 $465,000 4.7%
AVERAGE SALE PRICE
$482,274 $473,260 1.9%
AVERAGE DAYS ON MARKET
53 38 39.5%
% SALES PRICE TO LIST PRICE
94.8% 99.0% -4.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
17 15
$2,000,000-$2,999,999
% CHANGE
YTD
2019
YTD
2020
NC
0 0
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
13.3%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 5.67 3.53
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MORRIS TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
65 48 35.4%
TOTAL DOLLAR VOLUME
$39,861,328 $29,822,574 33.7%
MEDIAN SALE PRICE
$585,000 $608,725 -3.9%
AVERAGE SALE PRICE
$613,251 $621,303 -1.3%
AVERAGE DAYS ON MARKET
56 68 -17.6%
% SALES PRICE TO LIST PRICE
97.6% 97.4% 0.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
61 44
YTD
2019
% CHANGE NC
4 4
38.6%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
66 20.33 3.25
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 1.33 7.50
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
MORRISTOWN FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
33 25 32.0%
TOTAL DOLLAR VOLUME
$16,472,300 $11,285,800 46.0%
MEDIAN SALE PRICE
$437,500 $435,000 0.6%
AVERAGE SALE PRICE
$499,160 $451,432 10.6%
AVERAGE DAYS ON MARKET
53 52 1.9%
% SALES PRICE TO LIST PRICE
96.8% 98.1% -1.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
2 0
ç
ç
31 25
YTD
2019
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
24.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
23 10.33 2.23
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 0.67 10.50
$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
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Source: GSMLS 4/8/20 & Trendgraphix
MOUNTAIN LAKES FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
15 7 114.3%
TOTAL DOLLAR VOLUME
$9,379,250 $4,520,000 107.5%
MEDIAN SALE PRICE
$595,000 $530,000 12.3%
AVERAGE SALE PRICE
$625,283 $645,714 -3.2%
AVERAGE DAYS ON MARKET
105 82 28.0%
% SALES PRICE TO LIST PRICE
96.8% 95.5% 1.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
1 0
ç
ç
14 7
YTD
2019
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
25 4.67 5.36
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
17 0.33 51.00
$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
0 0.00 N/A
10 Year Market History
© 2020 Turpin Realtors
Source: GSMLS 4/8/20 & Trendgraphix
NEW PROVIDENCE FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
26 19 36.8%
TOTAL DOLLAR VOLUME
$18,025,000 $11,329,400 59.1%
MEDIAN SALE PRICE
$632,500 $619,000 2.2%
AVERAGE SALE PRICE
$693,269 $596,284 16.3%
AVERAGE DAYS ON MARKET
65 70 -7.1%
% SALES PRICE TO LIST PRICE
97.2% 97.2% 0.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
23 19
YTD
2019
3 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
21.1%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
43 7.67 5.61
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 1.00 5.00
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
PEAPACK-GLADSTONE FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
7 7 0.0%
TOTAL DOLLAR VOLUME
$7,055,999 $4,734,000 49.0%
MEDIAN SALE PRICE
$700,000 $775,000 -9.7%
AVERAGE SALE PRICE
$1,007,999 $676,285 49.0%
AVERAGE DAYS ON MARKET
98
% SALES PRICE TO LIST PRICE
89.8% 97.3% -7.7%
121 -19.0%
Sales by Price $0-$999,999 YTD
2020
YTD
2019
$1,000,000-$1,999,999
% CHANGE
YTD
2020
% CHANGE
1 0
YTD
2020
YTD
2019
1 0
$3,000,000 AND UP
% CHANGE
YTD
2020
ç
ç
ç
5 7
YTD
2019
$2,000,000-$2,999,999
YTD
2019
% CHANGE
0 0
NC
28.6%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 1.67 4.20
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 0.33 6.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
1 0.33 3.00
INVENTORY
AVG SALES PER MONTH
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
RANDOLPH TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
59 44 34.1%
TOTAL DOLLAR VOLUME
$26,383,464 $20,689,070 27.5%
MEDIAN SALE PRICE
$408,000 $441,125 -7.5%
AVERAGE SALE PRICE
$447,177 $470,206 -4.9%
AVERAGE DAYS ON MARKET
65 63 3.2%
% SALES PRICE TO LIST PRICE
97.9% 96.4% 1.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
ç
59 43
% CHANGE
YTD
2019
0 1
37.2%
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
70 19.67 3.56
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
READINGTON TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
58 37 56.8%
TOTAL DOLLAR VOLUME
$24,894,610 $16,824,008 48.0%
MEDIAN SALE PRICE
$459,250 $450,000 2.1%
AVERAGE SALE PRICE
$429,217 $454,702 -5.6%
AVERAGE DAYS ON MARKET
77 80 -3.8%
% SALES PRICE TO LIST PRICE
98.6% 96.3% 2.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
58 37
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
56.8%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
68 19.33 3.52
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
SUMMIT FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
57 41 39.0%
TOTAL DOLLAR VOLUME
$53,239,348 $43,401,848 22.7%
MEDIAN SALE PRICE
$828,000 $926,000 -10.6%
AVERAGE SALE PRICE
$934,023
AVERAGE DAYS ON MARKET
82 51 60.8%
% SALES PRICE TO LIST PRICE
96.3% 96.5% -0.2%
$1,058,581 -11.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
YTD
2019
2 0
% CHANGE
YTD
2020
YTD
2019
0 2
83.3%
22.2%
% CHANGE
ç
22 12
YTD
2020
$3,000,000 AND UP
ç
ç
ç
33 27
YTD
2019
$2,000,000-$2,999,999
100.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
33 11.00 3.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
28 7.33 3.82
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
14 0.67 21.00
INVENTORY
AVG SALES PER MONTH
5 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
TEWKSBURY TWP. FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
28 17 64.7%
TOTAL DOLLAR VOLUME
$15,991,607 $16,119,400 -0.8%
MEDIAN SALE PRICE
$559,500 $557,000 0.4%
AVERAGE SALE PRICE
$571,128 $948,200 -39.8%
AVERAGE DAYS ON MARKET
101 87 16.1%
% SALES PRICE TO LIST PRICE
97.1% 94.0% 3.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
1 2
92.9%
YTD
2020
YTD
2019
0 0
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
ç
ç
ç
27 14
YTD
2019
$3,000,000 AND UP
$2,000,000-$2,999,999
0 1
100.0%
50.0%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
58 9.00 6.44
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
16 0.33 48.00
$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
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
WARREN FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
40 34 17.6%
TOTAL DOLLAR VOLUME
$29,335,836 $26,072,524 12.5%
MEDIAN SALE PRICE
$747,500 $770,500 -3.0%
AVERAGE SALE PRICE
$733,395 $766,838 -4.4%
AVERAGE DAYS ON MARKET
63 76 -17.1%
% SALES PRICE TO LIST PRICE
96.1% 95.7% 0.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
36 31
YTD
2019
4 3
16.1%
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
33.3%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
43 12.00 3.58
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
25 1.33 18.75
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
WASHINGTON TWP. (MORRIS COUNTY) FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
48 38 26.3%
TOTAL DOLLAR VOLUME
$21,680,910 $15,938,164 36.0%
MEDIAN SALE PRICE
$447,500 $411,950 8.6%
AVERAGE SALE PRICE
$451,685 $419,425 7.7%
AVERAGE DAYS ON MARKET
84 83 1.2%
% SALES PRICE TO LIST PRICE
96.3% 97.0% -0.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
ç
48 38
YTD
2019
% CHANGE NC
0 0
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
26.3%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
79 16.00 4.94
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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
WATCHUNG FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
13 8 62.5%
TOTAL DOLLAR VOLUME
$9,438,500 $5,303,000 78.0%
MEDIAN SALE PRICE
$662,500 $585,000 13.2%
AVERAGE SALE PRICE
$726,038 $662,875 9.5%
AVERAGE DAYS ON MARKET
72 90 -20.0%
% SALES PRICE TO LIST PRICE
94.1% 97.9% -3.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
11 7
YTD
2019
2 1
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
100.0%
57.1%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 3.67 5.45
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
8 0.67 12.00
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
WESTFIELD FIRST QUARTER MARKET REPORT 2020
Overview Q1 2019
Q1 2020
% CHANGE
HOMES SOLD
88 72 22.2%
TOTAL DOLLAR VOLUME
$70,492,944 $54,350,100 29.7%
MEDIAN SALE PRICE
$694,500 $695,000 -0.1%
AVERAGE SALE PRICE
$801,056 $754,862 6.1%
AVERAGE DAYS ON MARKET
70 69 1.4%
% SALES PRICE TO LIST PRICE
97.8% 97.2% 0.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2020
YTD
2019
% CHANGE
YTD
2020
% CHANGE
ç
ç
65 63
YTD
2019
23 9
$2,000,000-$2,999,999 YTD
2020
YTD
2019
0 0
$3,000,000 AND UP
% CHANGE
YTD
2020
NC
YTD
2019
% CHANGE
0 0
NC
155.6%
3.2%
Supply and Demand (as of March 31, 2020) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
73 21.67 3.37
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
36 7.67 4.70
$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
© 2020 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 4/8/20 & Trendgraphix
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