W W W. T U R P I N R E A LT O R S . C O M / R E P O R T S
Q2 MA R KET R EPO RT 2019
2ND QUARTER MARKET REPORT 2019
About the Data • • • • •
This study includes all residential home sales in the towns indicated, as reported by Garden State Multiple Listing Service LLC (GSMLS), including condominiums and townhomes. Does not include land sales, commercial sales, rentals, or off-market transactions. Year to Date “Overview” sales data is asreportedto GSMLS on 7/5/19. 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 7/5/19 & Trendgraphix
COMMENTARY 2ND QUARTER MARKET REPORT 2019 At the halfway mark of the year, our regional real estate market seems to be holding its own overall. Nonetheless, some dramatic swings become apparent upon a more nuanced examination of market segments, which we endeavor to undertake here. Year to date, for homes priced under $1 million in the thirty-five towns we report on, slightly more towns posted unit-sales gains than losses (18 and 16, respectively, with no change in one town), a fairly balanced result. In contrast, performance over $1 million was significantly less so: only 8 towns improved, whereas 13 towns lost traction and 14 showed no change as compared to the same period in 2018. Additionally, trends that became evident in select locales for the first quarter have continued apace, for better and worse. Improvement to the West In what we hope is a harbinger of improvement in the more rural areas we serve, Tewksbury Twp increased 56% in both unit sales (quarter over quarter) and dollar volume (year over year), due to a threefold improvement in the $1-2 million segment and Turpin’s sale of Meadowbrook Farm, the highest residential transaction ever recorded in Tewksbury. Far Hills continues its small but mighty comeback, with improved sales for condos, village homes and estate properties alike. Watchung also surged during the second quarter, with unit sales up 56% compared with the same period in 2018. Upper-End Market in Transition We also note a change of pace at the upper end, whereby some “country” settings have gained momentum, while easterly, suburban markets dipped. For example, Bedminster posted more sales over $3 million this year than in the prior 5 years combined. Additionally, Harding, Mendham Twp and Tewksbury also increased in year-to-date sales over $1 million. In contrast, the million-plus segment declined in both Summit (-36%) and Millburn-Short Hills (-18%), despite solid 2018 performances. We’ll be watching this segment closely over the duration of the year. Wild Swings Depending on Price Range The disparity in performance by price is almost shocking in certain towns. For example, Peapack-Gladstone (up 31% overall for the year to date) increased 167% under $1 million, but declined 86% in the $1-2 million range. Warren, Bernardsville and Chatham Twp also experienced similar but less drastic iterations of this trend. Troubling Trends to Watch Declines that were noted in our first-quarter report for Bernards Twp, Madison and Summit have deepened, and seem to be spreading to neighboring towns. Bernards Twp slowed in all price ranges, most precipitously over $1 million. Summit had fewer sales in all price ranges (down 28% year to date), and a disproportionate drop in the $2-3 million range. Madison posted pronounced declines in all price ranges, logging only about half the number of sales as this time last year. Chatham Boro has slowed, too, especially in the $1-2 million range, while Chatham Twp declined in the $2-3 million band. If there is any constant in our regional real estate market, it’s variability — from one town to the next and across price segments. An experienced real estate professional can help you assess the particulars relative to your unique circumstances. I hope you will not hesitate to call on one of the fine agents at Turpin Realtors for expert advice and diligent service.
John Turpin, President
www.TurpinRealtors.com/Reports © 2019 Turpin Realtors
Source: GSMLS 7/5/19 & Trendgraphix
CONTENTS
2ND 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: 7 Kendall Ct, Mendham Twp; 69 Mosle Rd, Peapack-Gladstone; 36 Cold Spring Rd, Tewksbury Twp; 145 Old Farm Rd, Bedminster Twp.
BEDMINSTER 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
% CHANGE
YTD 2018
YTD 2019
HOMES SOLD
66
58 13.8%
107 95 12.6%
TOTAL DOLLAR VOLUME
$33,746,848
$23,891,900 41.2%
$51,040,248
$37,310,808 36.8%
MEDIAN SALE PRICE
$351,200
$322,500 8.9%
$339,000
$325,000 4.3%
AVERAGE SALE PRICE
$511,315
$411,929 24.1%
$477,011
$392,745 21.5%
AVERAGE DAYS ON MARKET
51
46 10.9%
69
50 38.0%
% SALES PRICE TO LIST PRICE
95.3%
97.1% -1.9%
94.9%
97.0% -2.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
3 2
8.6%
YTD
2019
YTD
2018
0 0
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
3 0
ç
ç
ç
101 93
YTD
2018
$2,000,000-$2,999,999
50.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
52 16.83 3.09
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
8 0.50 16.00
$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
3 0.50 6.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
BERKELEY HEIGHTS 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
55
50 10.0%
89
82 8.5%
TOTAL DOLLAR VOLUME
$33,454,800
$32,222,650 3.8%
$51,700,676
$49,910,152 3.6%
MEDIAN SALE PRICE
$590,000
$599,500 -1.6%
$570,000
$595,000 -4.2%
AVERAGE SALE PRICE
$608,269
$644,453 -5.6%
$580,906
$608,660 -4.6%
AVERAGE DAYS ON MARKET
46
28 64.3%
59
45 31.1%
% SALES PRICE TO LIST PRICE
97.8%
98.8% -1.0%
97.8%
98.6% -0.8%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
85 78
YTD
2018
% CHANGE NC
4 4
$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
9.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
64 14.17 4.52
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
BERNARDS TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
134
137 -2.2%
197
209 -5.7%
TOTAL DOLLAR VOLUME
$81,978,112
$94,357,800 -13.1%
$116,608,752
$137,877,200 -15.4%
MEDIAN SALE PRICE
$576,500
$705,000 -18.2%
$540,000
$609,000 -11.3%
AVERAGE SALE PRICE
$611,776
$688,743 -11.2%
$591,922
$659,699 -10.3%
AVERAGE DAYS ON MARKET
56
35 60.0%
60
48 25.0%
% SALES PRICE TO LIST PRICE
96.9%
98.3% -1.4%
96.7%
97.8% -1.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
19 28
YTD
2019
YTD
2018
0 2
32.1%
0.6%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
178 179
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
174 29.67 5.87
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
52 3.17 16.42
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
∞
3 0.00
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 7/5/19 & Trendgraphix
BERNARDSVILLE 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
22
25 -12.0%
45
48 -6.3%
TOTAL DOLLAR VOLUME
$18,895,000
$19,720,550 -4.2%
$32,542,500
$37,672,272 -13.6%
MEDIAN SALE PRICE
$731,000
$675,000 8.3%
$643,000
$616,025 4.4%
AVERAGE SALE PRICE
$858,863
$788,822 8.9%
$723,166
$784,839 -7.9%
AVERAGE DAYS ON MARKET
70
83 -15.7%
68
86 -20.9%
% SALES PRICE TO LIST PRICE
94.4%
94.5% -0.1%
94.4%
93.2% 1.3%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
5.4%
YTD
2018
1 2
% CHANGE
YTD
2019
YTD
2018
% CHANGE
1 0
ç
4 9
YTD
2019
$3,000,000 AND UP
ç
ç
ç
39 37
YTD
2018
$2,000,000-$2,999,999
50.0%
55.6%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
44 6.50 6.77
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
45 0.67 67.50
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
12 0.17 72.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
4 0.17 24.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
CALIFON 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
1
5 -80.0%
3
7 -57.1%
TOTAL DOLLAR VOLUME
$345,000
$1,577,500 -78.1%
$1,033,000
$2,193,500 -52.9%
MEDIAN SALE PRICE
$345,000
$319,000 8.2%
$345,000
$319,000 8.2%
AVERAGE SALE PRICE
$345,000
$315,500 9.4%
$344,333
$313,357 9.9%
AVERAGE DAYS ON MARKET
74
86 -14.0%
125 86 45.3%
% SALES PRICE TO LIST PRICE
94.5%
99.5% -5.0%
98.0%
98.8% -0.8%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
ç
3 7
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
57.1%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 0.50 24.00
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 7/5/19 & Trendgraphix
CHATHAM BORO 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
36
51 -29.4%
53
66 -19.7%
TOTAL DOLLAR VOLUME
$30,982,250
$47,040,096 -34.1%
$44,839,048
$59,198,596 -24.3%
MEDIAN SALE PRICE
$778,075
$854,000 -8.9%
$749,500
$837,500 -10.5%
AVERAGE SALE PRICE
$860,618
$922,354 -6.7%
$846,019
$896,948 -5.7%
AVERAGE DAYS ON MARKET
45
31 45.2%
53
45 17.8%
% SALES PRICE TO LIST PRICE
97.8%
98.9% -1.1%
97.7%
98.9% -1.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
11 20
YTD
2019
YTD
2018
1 0
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
41 46
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
45.0%
10.9%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
24 6.83 3.51
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
22 1.83 12.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.17 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 7/5/19 & Trendgraphix
CHATHAM TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
59
64 -7.8%
95
91 4.4%
TOTAL DOLLAR VOLUME
$61,511,996
$75,121,760 -18.1%
$100,743,496
$105,702,760 -4.7%
MEDIAN SALE PRICE
$965,000
$1,162,000 -17.0%
$935,000
$1,149,000 -18.6%
AVERAGE SALE PRICE
$1,042,576
$1,173,777 -11.2%
$1,060,457
$1,161,568 -8.7%
AVERAGE DAYS ON MARKET
48
44 9.1%
58
41 41.5%
% SALES PRICE TO LIST PRICE
97.7%
98.4% -0.7%
97.2%
98.7% -1.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
YTD
2018
9 12
2.8%
21.4%
% CHANGE
YTD
2019
YTD
2018
% CHANGE
ç
35 36
YTD
2019
$3,000,000 AND UP
ç
ç
ç
51 42
YTD
2018
$2,000,000-$2,999,999
0 1
100.0%
25.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
32 8.50 3.76
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
34 5.83 5.83
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
15 1.50 10.00
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 7/5/19 & Trendgraphix
CHESTER BORO 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
% CHANGE
YTD 2018
YTD 2019
HOMES SOLD
7
7 0.0%
14 9 55.6%
TOTAL DOLLAR VOLUME
$4,454,900
$3,916,000 13.8%
$8,041,400
$4,956,000 62.3%
MEDIAN SALE PRICE
$680,000
$575,000 18.3%
$545,000
$575,000 -5.2%
AVERAGE SALE PRICE
$636,414
$559,428 13.8%
$574,385
$550,666 4.3%
AVERAGE DAYS ON MARKET
58
112 -48.2%
83
93 -10.8%
% SALES PRICE TO LIST PRICE
97.3%
97.0% 0.4%
96.7%
97.4% -0.7%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
ç
14 9
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
55.6%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
19 2.33 8.14
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 7/5/19 & Trendgraphix
CHESTER TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
28
39 -28.2%
51
61 -16.4%
TOTAL DOLLAR VOLUME
$19,130,400
$27,977,400 -31.6%
$34,958,300
$38,863,104 -10.0%
MEDIAN SALE PRICE
$650,000
$681,500 -4.6%
$647,000
$639,900 1.1%
AVERAGE SALE PRICE
$683,228
$717,369 -4.8%
$685,456
$637,100 7.6%
AVERAGE DAYS ON MARKET
68
72 -5.6%
74
79 -6.3%
% SALES PRICE TO LIST PRICE
96.5%
98.4% -1.9%
95.9%
98.0% -2.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
45 56
YTD
2018
6 5
$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
20.0%
19.6%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
77 7.50 10.27
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
20 1.00 20.00
$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
1 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
CLINTON TOWN 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
9
16 -43.8%
12
24 -50.0%
TOTAL DOLLAR VOLUME
$2,705,000
$5,629,150 -51.9%
$3,882,000
$7,516,400 -48.4%
MEDIAN SALE PRICE
$335,000
$360,000 -6.9%
$349,000
$318,750 9.5%
AVERAGE SALE PRICE
$300,555
$351,821 -14.6%
$323,500
$313,183 3.3%
AVERAGE DAYS ON MARKET
101 63 60.3%
89
63 41.3%
% SALES PRICE TO LIST PRICE
97.5%
98.1%
98.4% -0.3%
99.1% -1.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
12 24
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
50.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 2.00 7.00
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 7/5/19 & Trendgraphix
CLINTON TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
50
60 -16.7%
80
90 -11.1%
TOTAL DOLLAR VOLUME
$21,031,564
$25,044,404 -16.0%
$32,690,138
$35,815,104 -8.7%
MEDIAN SALE PRICE
$419,850
$437,000 -3.9%
$414,350
$405,000 2.3%
AVERAGE SALE PRICE
$420,631
$417,406 0.8%
$408,626
$397,945 2.7%
AVERAGE DAYS ON MARKET
34
70 -51.4%
53
76 -30.3%
% SALES PRICE TO LIST PRICE
98.0%
97.8% 0.2%
97.3%
97.8% -0.4%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
ç
80 90
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
11.1%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
85 13.33 6.38
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
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 7/5/19 & Trendgraphix
FAR HILLS 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
% CHANGE
YTD 2018
YTD 2019
HOMES SOLD
4
2 100.0%
10 2 400.0%
TOTAL DOLLAR VOLUME
$2,559,750
$1,625,000 57.5%
$6,746,427
$1,625,000 315.2%
MEDIAN SALE PRICE
$732,500
$812,500 -9.8%
$677,500
$812,500 -16.6%
AVERAGE SALE PRICE
$639,937
$812,500 -21.2%
$674,642
$812,500 -17.0%
AVERAGE DAYS ON MARKET
189 79 139.2%
130 79 64.6%
% SALES PRICE TO LIST PRICE
90.5%
93.0%
95.6% -5.3%
95.6% -2.7%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
ç
ç
9 2
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
350.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
5 1.50 3.33
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 0.17 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
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 7/5/19 & Trendgraphix
FLORHAM PARK 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
31
26 19.2%
61
55 10.9%
TOTAL DOLLAR VOLUME
$21,090,904
$18,201,850 15.9%
$45,141,220
$37,949,028 19.0%
MEDIAN SALE PRICE
$599,000
$636,425 -5.9%
$625,000
$640,000 -2.3%
AVERAGE SALE PRICE
$680,351
$700,071 -2.8%
$740,020
$689,982 7.3%
AVERAGE DAYS ON MARKET
40
41 -2.4%
64
69 -7.2%
% SALES PRICE TO LIST PRICE
97.2%
98.6% -1.4%
96.8%
98.0% -1.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
9 7
YTD
2019
YTD
2018
1 0
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
51 48
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
28.6%
6.3%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
33 8.50 3.88
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 1.50 9.33
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
1 0.17 6.00
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 7/5/19 & Trendgraphix
HARDING TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
9
8 12.5%
22
16 37.5%
TOTAL DOLLAR VOLUME
$11,995,000 $7,912,000 51.6%
$27,677,000
$22,024,500 25.7%
MEDIAN SALE PRICE
$1,425,000 $771,000 84.8%
$929,500
$1,107,500 -16.1%
AVERAGE SALE PRICE
$1,332,777 $989,000 34.8%
$1,258,045
$1,376,531 -8.6%
AVERAGE DAYS ON MARKET
201 80 151.3%
151 97 55.7%
% SALES PRICE TO LIST PRICE
91.3%
90.7%
92.7% -1.5%
92.2% -1.6%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
6 5
50.0%
YTD
2019
YTD
2018
3 2
20.0%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
12 8
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
1 1
NC
50.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
13 2.00 6.50
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
30 1.00 30.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
13 0.50 26.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
13 0.17 78.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
LEBANON BORO 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
11 4 175.0%
12
10 20.0%
TOTAL DOLLAR VOLUME
$2,981,900 $993,000 200.3%
$3,145,900
$2,706,538 16.2%
MEDIAN SALE PRICE
$280,000
$208,750 34.1%
$271,500
$283,625 -4.3%
AVERAGE SALE PRICE
$271,081
$248,250 9.2%
$262,158
$270,653 -3.1%
AVERAGE DAYS ON MARKET
75
94 -20.2%
68
63 7.9%
% SALES PRICE TO LIST PRICE
98.9%
97.9% 1.1%
98.9%
99.0% -0.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
12 10
$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
20.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
10 2.00 5.00
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 7/5/19 & Trendgraphix
LEBANON TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
17
22 -22.7%
32
41 -22.0%
TOTAL DOLLAR VOLUME
$6,463,473
$10,131,675 -36.2%
$10,893,473
$17,649,118 -38.3%
MEDIAN SALE PRICE
$390,000
$498,500 -21.8%
$330,500
$452,000 -26.9%
AVERAGE SALE PRICE
$380,204
$460,530 -17.4%
$340,421
$430,466 -20.9%
AVERAGE DAYS ON MARKET
61
94 -35.1%
69
94 -26.6%
% SALES PRICE TO LIST PRICE
98.1%
97.3% 0.8%
98.0%
98.3% -0.3%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
32 41
$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
22.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
49 5.33 9.19
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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
LONG HILL TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
26
30 -13.3%
44
56 -21.4%
TOTAL DOLLAR VOLUME
$13,173,900
$18,447,400 -28.6%
$22,009,400
$31,180,050 -29.4%
MEDIAN SALE PRICE
$472,500
$601,000 -21.4%
$470,000
$504,500 -6.8%
AVERAGE SALE PRICE
$506,688
$614,913 -17.6%
$500,213
$556,786 -10.2%
AVERAGE DAYS ON MARKET
53
78 -32.1%
57
69 -17.4%
% SALES PRICE TO LIST PRICE
96.2%
98.7% -2.5%
96.0%
98.1% -2.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
44 56
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
21.4%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
58 7.33 7.91
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
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
MADISON 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
36
63 -42.9%
54
100 -46.0%
TOTAL DOLLAR VOLUME
$33,360,100
$58,372,964 -42.9%
$47,924,600
$91,242,872 -47.5%
MEDIAN SALE PRICE
$835,250
$790,000 5.7%
$801,278
$785,000 2.1%
AVERAGE SALE PRICE
$926,669
$926,555 0.0%
$887,492
$912,428 -2.7%
AVERAGE DAYS ON MARKET
63
37 70.3%
69
39 77.7%
% SALES PRICE TO LIST PRICE
97.4%
98.1% -0.7%
97.3%
97.8% -0.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2018
% CHANGE
YTD
2019
YTD
2018
46.7%
43.3%
% CHANGE
YTD
2019
YTD
2018
% CHANGE
ç
0 2
$3,000,000 AND UP
ç
ç
16 30
ç
38 67
YTD
2019
$2,000,000-$2,999,999
0 1
100.0%
100.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
50 6.33 7.89
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
24 2.67 9.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
6 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 7/5/19 & Trendgraphix
MAPLEWOOD 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
120
122 -1.6%
187
191 -2.1%
TOTAL DOLLAR VOLUME
$73,859,752
$79,029,576 -6.5%
$110,984,784
$116,290,912 -4.6%
MEDIAN SALE PRICE
$615,500
$632,250 -2.6%
$605,000
$614,000 -1.5%
AVERAGE SALE PRICE
$615,497
$647,783 -5.0%
$593,501
$608,852 -2.5%
AVERAGE DAYS ON MARKET
37
21 76.2%
40
27 48.1%
% SALES PRICE TO LIST PRICE
101.8%
103.5% -1.7%
101.3%
102.9% -1.5%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
174 177
YTD
2018
13 14
$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
7.1%
1.7%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
83 29.00 2.86
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
11 2.17 5.08
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
1 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
MENDHAM BORO 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
16
27 -40.7%
32
44 -27.3%
TOTAL DOLLAR VOLUME
$10,519,499
$19,700,750 -46.6%
$21,826,000
$34,428,848 -36.6%
MEDIAN SALE PRICE
$606,250
$659,000 -8.0%
$623,750
$650,000 -4.0%
AVERAGE SALE PRICE
$657,468
$729,657 -9.9%
$682,062
$782,473 -12.8%
AVERAGE DAYS ON MARKET
68
78 -12.8%
83
87 -4.6%
% SALES PRICE TO LIST PRICE
95.0%
93.9% 1.2%
95.2%
92.2% 3.3%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
YTD
2018
0 1
YTD
2019
YTD
2018
% CHANGE
0 1
100.0%
60.0%
18.9%
% CHANGE
ç
2 5
YTD
2019
$3,000,000 AND UP
ç
ç
ç
30 37
YTD
2018
$2,000,000-$2,999,999
100.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
49 5.00 9.80
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
12 0.33 36.00
$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 7/5/19 & Trendgraphix
MENDHAM TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
29
25 16.0%
46
44 4.5%
TOTAL DOLLAR VOLUME
$28,699,500
$23,643,000 21.4%
$42,377,648
$40,196,752 5.4%
MEDIAN SALE PRICE
$925,000
$799,000 15.8%
$845,000
$769,500 9.8%
AVERAGE SALE PRICE
$989,637
$945,720 4.6%
$921,253
$913,562 0.8%
AVERAGE DAYS ON MARKET
64
82 -22.0%
68
124 -45.2%
% SALES PRICE TO LIST PRICE
95.7%
95.6% 0.1%
95.4%
94.1% 1.4%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE NC
YTD
2018
% CHANGE
ç
31 31
YTD
2019
13 11
$2,000,000-$2,999,999 YTD
2019
YTD
2018
2 2
$3,000,000 AND UP
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
18.2%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
53 5.17 10.26
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
33 2.17 15.23
$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
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
MILLBURN 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
88
88 0.0%
131
129 1.6%
TOTAL DOLLAR VOLUME
$116,368,848
$115,805,208 0.5%
$161,120,960
$184,054,240 -12.5%
MEDIAN SALE PRICE
$1,133,000
$1,201,500 -5.7%
$1,180,000
$1,203,000 -1.9%
AVERAGE SALE PRICE
$1,322,373
$1,315,968 0.5%
$1,229,931
$1,426,777 -13.8%
AVERAGE DAYS ON MARKET
48
45 6.7%
54
52 3.8%
% SALES PRICE TO LIST PRICE
96.6%
97.6% -1.0%
96.1%
96.1% 0.0%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
YTD
2018
13 14
16.9%
37.8%
% CHANGE
YTD
2019
YTD
2018
% CHANGE
ç
54 65
YTD
2019
$3,000,000 AND UP
ç
ç
ç
62 45
YTD
2018
$2,000,000-$2,999,999
2 5
60.0%
7.1%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
41 10.33 3.97
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
77 9.00 8.56
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
32 2.17 14.77
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 0.33 42.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
MORRIS PLAINS 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
23
30 -23.3%
38
48 -20.8%
TOTAL DOLLAR VOLUME
$11,687,514
$14,526,500 -19.5%
$18,786,414
$23,130,900 -18.8%
MEDIAN SALE PRICE
$515,000
$485,000 6.2%
$515,000
$485,000 6.2%
AVERAGE SALE PRICE
$508,152
$484,216 4.9%
$494,379
$481,893 2.6%
AVERAGE DAYS ON MARKET
23
30 -23.3%
38
38 0.0%
% SALES PRICE TO LIST PRICE
99.6%
100.4% -0.8%
99.4%
99.5% -0.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
38 48
$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
20.8%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
17 6.33 2.68
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 7/5/19 & Trendgraphix
MORRIS TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
96
94 2.1%
144
168 -14.3%
TOTAL DOLLAR VOLUME
$59,507,280
$58,533,612 1.7%
$89,329,848
$103,755,216 -13.9%
MEDIAN SALE PRICE
$572,450
$550,000 4.1%
$585,000
$550,000 6.4%
AVERAGE SALE PRICE
$619,867
$622,698 -0.5%
$620,346
$617,590 0.4%
AVERAGE DAYS ON MARKET
48
58 -17.2%
55
62 -11.3%
% SALES PRICE TO LIST PRICE
97.1%
97.9% -0.9%
97.2%
97.9% -0.7%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE NC
7 7
YTD
2019
YTD
2018
1 3
13.9%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
136 158
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
66.7%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
98 22.67 4.32
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
19 1.17 16.29
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
3 0.17 18.00
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 7/5/19 & Trendgraphix
MORRISTOWN 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
42
39 7.7%
67
62 8.1%
TOTAL DOLLAR VOLUME
$21,006,954
$21,163,224 -0.7%
$32,292,756
$30,090,220 7.3%
MEDIAN SALE PRICE
$410,500
$451,000 -9.0%
$431,000
$423,000 1.9%
AVERAGE SALE PRICE
$500,165
$542,646 -7.8%
$481,981
$485,326 -0.7%
AVERAGE DAYS ON MARKET
38
32 18.8%
43
35 22.9%
% SALES PRICE TO LIST PRICE
97.0%
100.0% -2.9%
97.4%
99.8% -2.4%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
YTD
2019
YTD
2018
1 0
% CHANGE
YTD
2019
ç
1 2
ç
ç
65 60
YTD
2018
$3,000,000 AND UP
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
50.0%
8.3%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
40 10.83 3.69
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 0.17 42.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
0 0.17 0.00
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
0 0.00 N/A
10 Year Market History
© 2019 Turpin Realtors
Source: GSMLS 7/5/19 & Trendgraphix
NEW PROVIDENCE 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
48
39 23.1%
68
55 23.6%
TOTAL DOLLAR VOLUME
$28,921,000
$27,027,188 7.0%
$40,620,400
$36,532,388 11.2%
MEDIAN SALE PRICE
$572,500
$725,000 -21.0%
$583,000
$677,000 -13.9%
AVERAGE SALE PRICE
$602,520
$693,004 -13.1%
$597,358
$664,225 -10.1%
AVERAGE DAYS ON MARKET
41
44 -6.8%
50
43 16.3%
% SALES PRICE TO LIST PRICE
98.2%
98.8% -0.6%
97.9%
98.5% -0.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
66 53
YTD
2018
% CHANGE NC
2 2
$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
24.5%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
68 11.00 6.18
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 0.33 21.00
$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 7/5/19 & Trendgraphix
PEAPACK-GLADSTONE 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
10 8 25.0%
17
13 30.8%
TOTAL DOLLAR VOLUME
$6,879,500
$7,372,000 -6.7%
$11,613,500
$13,392,000 -13.3%
MEDIAN SALE PRICE
$638,500
$1,006,000 -36.5%
$640,000
$1,032,000 -38.0%
AVERAGE SALE PRICE
$687,950
$921,500 -25.3%
$683,147
$1,030,153 -33.7%
AVERAGE DAYS ON MARKET
75
85 -11.8%
94
162 -42.0%
% SALES PRICE TO LIST PRICE
96.3%
84.8% 13.6%
96.7%
88.8% 9.0%
Sales by Price $0-$999,999 YTD
2019
YTD
2018
$1,000,000-$1,999,999
% CHANGE
YTD
2019
% CHANGE
ç
ç
16 6
YTD
2018
1 7
$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
85.7%
166.7%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
14 2.67 5.25
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 0.17 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
2 0.00
MONTH’S SUPPLY
∞
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
RANDOLPH TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
93
75 24.0%
137
128 7.0%
TOTAL DOLLAR VOLUME
$51,182,544
$41,014,600 24.8%
$71,871,616
$68,690,192 4.6%
MEDIAN SALE PRICE
$527,000
$525,000 0.4%
$520,000
$505,000 3.0%
AVERAGE SALE PRICE
$550,349
$546,861 0.6%
$524,610
$536,642 -2.2%
AVERAGE DAYS ON MARKET
46
44 4.5%
51
50 2.0%
% SALES PRICE TO LIST PRICE
97.8%
98.0% -0.2%
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
ç
134 125
YTD
2018
% CHANGE NC
3 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
7.2%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
137 22.33 6.13
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
3 0.50 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
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
READINGTON TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
67
80 -16.3%
104
119 -12.6%
TOTAL DOLLAR VOLUME
$27,246,458
$34,682,064 -21.4%
$44,070,468
$50,150,972 -12.1%
MEDIAN SALE PRICE
$420,000
$421,750 -0.4%
$425,000
$412,800 3.0%
AVERAGE SALE PRICE
$406,663
$433,525 -6.2%
$423,754
$421,436 0.5%
AVERAGE DAYS ON MARKET
66
72 -8.3%
71
62 14.5%
% SALES PRICE TO LIST PRICE
98.0%
98.6% -0.6%
97.3%
98.4% -1.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
104 119
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
12.6%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
105 17.33 6.06
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 7/5/19 & Trendgraphix
SUMMIT 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
69
99 -30.3%
111
154 -27.9%
TOTAL DOLLAR VOLUME
$74,861,152
$116,198,312 -35.6%
$119,096,008
$178,178,400 -33.2%
MEDIAN SALE PRICE
$1,025,000
$1,056,300 -3.0%
$955,000
$993,583 -3.9%
AVERAGE SALE PRICE
$1,084,944
$1,173,720 -7.6%
$1,072,937
$1,157,002 -7.3%
AVERAGE DAYS ON MARKET
44
35 25.7%
47
45 4.4%
% SALES PRICE TO LIST PRICE
97.5%
98.4% -0.9%
97.2%
97.7% -0.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
YTD
2018
5 14
28.8%
20.5%
% CHANGE
YTD
2019
YTD
2018
% CHANGE
ç
42 59
YTD
2019
$3,000,000 AND UP
ç
ç
ç
62 78
YTD
2018
$2,000,000-$2,999,999
2 3
64.3%
33.3%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
53 10.33 5.13
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
69 7.00 9.86
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
13 0.83 15.60
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
7 0.33 21.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
TEWKSBURY TWP. 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
28
18 55.6%
45
36 25.0%
TOTAL DOLLAR VOLUME
$18,235,950
$10,007,900 82.2%
$34,355,352
$22,051,924 55.8%
MEDIAN SALE PRICE
$617,500
$521,250 18.5%
$595,000
$574,125 3.6%
AVERAGE SALE PRICE
$651,283
$555,994 17.1%
$763,452
$612,553 24.6%
AVERAGE DAYS ON MARKET
142 72 97.2%
121 91 33.0%
% SALES PRICE TO LIST PRICE
94.1%
94.0%
98.6% -4.6%
98.0% -4.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
4 1
14.3%
YTD
2019
YTD
2018
0 0
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
1 0
ç
ç
ç
40 35
YTD
2018
$3,000,000 AND UP
$2,000,000-$2,999,999
300.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
81 6.67 12.15
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
26 0.67 39.00
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
6 0.00
$3,000,000 AND UP
MONTH’S SUPPLY
∞
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
2 0.17 12.00
10 Year Market History
© 2019 Turpin Realtors
Subject to Errors and Omissions
Source: GSMLS 7/5/19 & Trendgraphix
WARREN 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
41
42 -2.4%
75
70 7.1%
TOTAL DOLLAR VOLUME
$34,287,648
$36,549,836 -6.2%
$60,360,172
$59,657,796 1.2%
MEDIAN SALE PRICE
$850,000
$785,000 8.3%
$799,000
$793,500 0.7%
AVERAGE SALE PRICE
$836,284
$870,234 -3.9%
$804,802
$852,254 -5.6%
AVERAGE DAYS ON MARKET
69
65 6.2%
72
82 -12.2%
% SALES PRICE TO LIST PRICE
97.1%
96.4% 0.7%
96.4%
96.6% -0.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
% CHANGE
11 20
ç
63 49
YTD
2018
28.6%
$3,000,000 AND UP
$2,000,000-$2,999,999 YTD
2019
YTD
2018
1 1
% CHANGE
YTD
2019
NC
YTD
2018
% CHANGE
0 0
NC
45.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
94 10.50 8.95
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
47 1.83 25.64
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
$3,000,000 AND UP
MONTH’S SUPPLY
2 0.17 12.00
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 7/5/19 & Trendgraphix
WASHINGTON TWP. (MORRIS COUNTY) 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
64
77 -16.9%
102
125 -18.4%
TOTAL DOLLAR VOLUME
$28,965,540
$32,814,140 -11.7%
$44,903,704
$54,338,468 -17.4%
MEDIAN SALE PRICE
$457,450
$409,900 11.6%
$427,625
$432,000 -1.0%
AVERAGE SALE PRICE
$452,586
$426,157 6.2%
$440,232
$434,707 1.3%
AVERAGE DAYS ON MARKET
47
60 -21.7%
60
64 -6.3%
% SALES PRICE TO LIST PRICE
97.9%
96.6% 1.3%
97.6%
96.5% 1.1%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
ç
102 125
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
18.4%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
128 17.00 7.53
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 7/5/19 & Trendgraphix
WATCHUNG 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
28
18 55.6%
36
28 28.6%
TOTAL DOLLAR VOLUME
$23,798,000
$14,715,400 61.7%
$29,101,000
$20,578,400 41.4%
MEDIAN SALE PRICE
$720,500
$627,500 14.8%
$671,500
$595,000 12.9%
AVERAGE SALE PRICE
$849,928
$817,522 4.0%
$808,361
$734,942 10.0%
AVERAGE DAYS ON MARKET
67
76 -11.8%
72
92 -21.7%
% SALES PRICE TO LIST PRICE
96.6%
95.5% 1.2%
96.9%
95.3% 1.6%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
ç
ç
28 23
YTD
2018
8 5
$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
60.0%
21.7%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
43 4.67 9.21
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
15 1.33 11.25
$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 7/5/19 & Trendgraphix
WESTFIELD 2ND QUARTER MARKET REPORT 2019
Overview Q2 2019
Q2 2018
% CHANGE
YTD 2019
YTD 2018
% CHANGE
HOMES SOLD
125
108 15.7%
197
164 20.1%
TOTAL DOLLAR VOLUME
$102,701,056 $91,468,080 12.3%
$157,051,136
$132,762,072 18.3%
MEDIAN SALE PRICE
$785,000
$819,500 -4.2%
$750,000
$750,500 -0.1%
AVERAGE SALE PRICE
$821,608
$846,926 -3.0%
$797,213
$809,524 -1.5%
AVERAGE DAYS ON MARKET
47
37 27.0%
55
42 31.0%
% SALES PRICE TO LIST PRICE
97.3%
97.5% -0.3%
97.3%
97.4% -0.2%
Sales by Price $1,000,000-$1,999,999
$0-$999,999 YTD
2019
YTD
2018
% CHANGE
YTD
2019
% CHANGE
37 36
YTD
2019
YTD
2018
0 1
2.8%
26.0%
$3,000,000 AND UP
% CHANGE
YTD
2019
ç
ç
ç
160 127
YTD
2018
$2,000,000-$2,999,999
YTD
2018
% CHANGE
0 0
NC
100.0%
Supply and Demand (as of June 30, 2019) $1,000,000-$1,999,999
$0-$999,999 INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
131 26.67 4.91
INVENTORY
AVG SALES PER MONTH
MONTH’S SUPPLY
62 6.17 10.05
$2,000,000-$2,999,999 INVENTORY
AVG SALES PER MONTH
6 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 7/5/19 & 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