Home Values

Morristown Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$404,000

  • 8.6% 1-year change
  • 0.8% 1-year forecast

The median home value in Morristown is $404,000. Morristown home values have gone up 8.6% over the past year and Zillow predicts they will rise 0.8% within the next year. The median list price per square foot in Morristown is $244, which is lower than the New York Metro average of $253. The median price of homes currently listed in Morristown is $410,000 while the median price of homes that sold is $447,250. The median rent price in Morristown is $2,150, which is lower than the New York Metro median of $2,400.

Foreclosures will be a factor impacting home values in the next several years. In Morristown 2.5 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.4 and also lower than the national value of 3.9

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Relative ZHVI
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Morristown Market Overview

Data through Feb 28, 2015
  • $404,000 ZHVI
  • 0.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $410,000 Median listing price
  • $447,250 Median sale price (Jan 31, 2015)
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Morristown Market Health

Data through Feb 28, 2015
  • No recent data
  • No data Average days on Zillow
  • No data Homes with negative equity (16.9% US Avg)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

2.5 homes(Jan 31, 2015) Morristown
1.4 homes New York Metro
3.9 homes United States
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Nearby Cities

Name Median ZHVI
Harding Township $1,132,000
Chatham Township $733,900
Florham Park $620,000
Name Median ZHVI
Madison $549,000
Morris Township $503,700
Morris Plains $456,100
Name Median ZHVI
Hanover $425,700
Parsippany-Troy Hills Township $376,000
Denville $340,700

Listings & Sales

Data through Feb 28, 2015
  • $244 Median list price / sq ft
  • $268 Median sale price / sq ft (Jan 31, 2015)
  • 10.1% Listings with price cut
21.4%
Sold below listing
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Morristown Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $2,528 Morristown
    $2,348 New York Metro
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $2,150 Rent list price
  • No data Rent list price / sq ft
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