Greater Morristown, NJ • Real Estate Market Report • May 2026
Morristown NJ Real Estate Market Report: May 2026 — Home Prices, Trends & What Buyers and Sellers Need to Know
If you're buying or selling a home in Morristown, NJ or Morris Township in 2026, the latest MLS data reveals a fast-moving, competitive market where sellers are consistently closing above asking price and homes are going under contract in under 30 days. This report from Kaitlyn Siracusa and The KCS Team covers real estate trends throughout the Greater Morristown area, including average home prices, days on market, sale-to-list ratios, and a detailed breakdown by property size, so buyers and sellers can make confident, informed decisions.
Is It a Seller's Market in Morristown NJ Right Now?
Yes — the Morristown and Morris Township markets remain strongly favorable to sellers based on this Spring 2026 data. Homes across the two municipalities are selling at an average of 104% of asking price, meaning many sellers are receiving offers above their list price. With an average of only 28 days on market and 150 homes under contract during the reporting period, demand continues to outpace supply in many price segments.
Morris Township NJ Home Prices — May 2026
Morris Township is the larger and higher-priced of the two markets in this report, with 140 active listings and a town-wide average sale price of $989,512. Sellers are receiving an average of 104% of asking price, with four-bedroom homes leading the market at 108%.
| Bedrooms | Active # | Avg. list price | Sold # | Avg. sale price | SP/LP |
|---|---|---|---|---|---|
| 1 bedroom | 6 | $326,833 | 5 | $329,400 | 100% |
| 2 bedrooms | 22 | $607,682 | 12 | $550,750 | 103% |
| 3 bedrooms | 39 | $907,254 | 30 | $823,867 | 103% |
| 4 bedrooms | 43 | $1,024,063 | 28 | $1,000,878 | 108% |
| 5+ bedrooms | 30 | $1,885,417 | 19 | $1,685,132 | 101% |
| Town total | 140 | $1,080,786 | 94 | $989,512 | 104% |
Morristown NJ Home Prices — May 2026
Morristown offers a different mix of housing and lifestyle options, combining downtown walkability, commuter access, restaurants, shopping, condominiums, townhomes, and established residential neighborhoods. The average sale price during this reporting period was $850,889, while the median sale price was $735,000. Competition remains strong, with homes averaging approximately 28 days on market and selling at 103% of asking price overall.
| Bedrooms | Active # | Avg. list price | Sold # | Avg. sale price | SP/LP |
|---|---|---|---|---|---|
| 1 bedroom | 9 | $424,111 | 5 | $517,800 | 102% |
| 2 bedrooms | 14 | $662,264 | 12 | $700,003 | 105% |
| 3 bedrooms | 27 | $913,122 | 14 | $941,929 | 104% |
| 4 bedrooms | 10 | $989,190 | 7 | $1,108,375 | 102% |
| 5+ bedrooms | 4 | $1,457,500 | 1 | $1,250,000 | 93% |
| Town total | 64 | $835,389 | 39 | $850,889 | 103% |
Frequently Asked Questions About the Morristown NJ Housing Market
What is the average home price in Morristown NJ in 2026?
According to Garden State MLS data covering November 2025 through April 2026, the average sale price across Morristown and Morris Township combined was approximately $948,863. Morris Township averaged $989,512, while Morristown averaged $850,889 during the reporting period.
How long does it take to sell a home in Morristown NJ?
Homes across the Greater Morristown area averaged approximately 28 days on market during this reporting period, indicating consistent buyer demand across both municipalities.
Are homes selling above asking price in Morris County NJ?
In the Morristown and Morris Township markets analyzed in this report, yes. The combined sale-to-list price ratio was approximately 104%. Four-bedroom homes in Morris Township were particularly competitive, averaging 108% of list price.
Is it a good time to buy a home in Morristown NJ?
That depends on your individual goals, timing, financing, and the type of property you're seeking. The market remains competitive, with many homes selling above asking and going under contract quickly. Buyers who are prepared, pre-approved, and working with a strong local real estate professional can still find excellent opportunities.
What is the difference between Morris Township and Morristown for real estate?
Morris Township generally offers a more suburban residential environment surrounding Morristown, with larger neighborhoods and a higher average sale price in this reporting period. Morristown offers a vibrant downtown, restaurants, shopping, cultural attractions, commuter rail access, condominiums, townhomes, and residential neighborhoods. Both markets continue to experience strong buyer demand.
How many homes are for sale in Morristown and Morris Township?
Based on the Garden State MLS data used for this May 2026 report, there were 204 active listings across Morris Township and Morristown combined — 140 in Morris Township and 64 in Morristown.
Morristown Real Estate Market Outlook: What to Expect in Summer 2026
With 150 homes under contract in the data analyzed for this report and continued buyer demand, the Greater Morristown real estate market entered summer 2026 with considerable momentum.
The Greater Morristown market continues to benefit from its proximity to New York City, commuter transportation, established neighborhoods, lifestyle amenities, and limited housing supply. These characteristics continue to make Morristown and Morris Township highly sought-after communities within Morris County.
Thinking About Buying or Selling a Home in Morristown?
Kaitlyn Siracusa and The KCS Team provide local real estate expertise throughout Morristown, Morris Township, Harding Township, and the surrounding Morris County communities. Whether you're considering selling your home, searching for your next property, or simply want to better understand today's market, we're here to help you evaluate your options and develop the right strategy.
Explore our Morristown real estate, Morris Township real estate, and Harding Township real estate resources to learn more about homes, communities, and current opportunities throughout the area.
Contact The KCS Team →Data source: Garden State MLS, L.L.C. — County Code 23, Town Codes 2324 & 2325. Period: November 2025–April 2026. Information deemed reliable but not guaranteed. Market conditions may have changed since the reporting period. © 2026 The KCS Team.
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