The typical home value in
Morristown
is projected to be
$825,340
for the month of
February.
January’s
finalized data reported the typical value of a home in the
city
to be
$862,500—up
32.69%
over the previous 12 months.
For comparison,
county-level
data pegged home values at
$685,000
in
Morris County
for the most recent reporting period.
That number is expected to float around
$692,500
in
February.
Morristown
had
11
new listings and
7
listings that went under contract in
January,
increasing
the area’s total available inventory to
13—up
8.33%
from the previous month. Inventory is projected to have further
increased
in
February.
Of those
13
active listings,
7.69%
reduced their price in the month of
January.
The median listing price for homes in
Morristown
grew
15.76%
from
December
to
January,
bringing the current median listing price to
$764,000.
Based on projected data for
February,
listing prices may continue to
grow.
The number of days that homes have been on the market prior to going under contract
has been fairly steady
year-over-year. In
January 2026,
the median time for a listed property to go pending was
27
days, compared to
30
days in
January 2025.
However, in recent months the median number of days from listed to pending appears to be
falling.
That trend is predicted to have carried through to this
February.
