The Spring Market is officially here, and if you are considering making a move in Morris County, New Jersey, the data from this past week reveals a highly dynamic landscape.
As a Coldwell Banker Global Luxury specialist, my team and I monitor these numbers daily to ensure our clients are positioned for maximum success. Last week, we saw a concerning dip in inventory, but the market has rapidly corrected course. However, despite a massive influx of new listings, buyer demand continues to keep overall supply exceptionally tight.
Here is everything you need to know about your local housing market for the week of April 10, 2026.
📈 The Weekly Market Snapshot: Inventory & Pricing
We saw a massive wave of fresh inventory hit the market this week, but total available homes actually shrank. Why? Because buyers are eagerly scooping up properties the moment they are listed.
New Listings: 56 new homes came on the market (a 70% increase from last week). This included 42 single-family homes and 14 condos/townhouses.
Average List Price: The average list price of these new homes was a robust $1,573,000.
Total Active Inventory: Despite the surge in new listings, total active inventory is actually down 2% from last week, sitting at just 189 homes across our covered towns.
Under Contract: 42 homes went under contract this week with an average list price of $1,169,000 and an average of 24 days on the market.
✨ Luxury Market Highlight
The high-end market remains incredibly strong. Our clear winner this week was in Harding, where a stunning single-family home hit the market at $4,315,000.
🏡 Town-by-Town Breakdown: Are Bidding Wars Still Happening?
While total homes sold this past week dropped to just 10 properties (a 69% decrease from last week), the ones that did close sold fast—averaging just 21 days on the market (a 48% decrease).
On average, homes sold for 2.6% above list price, but the reality varies drastically depending on the town:
Chatham: Extremely competitive, with homes selling for 15% above list price.
Madison: Strong buyer demand pushed sale prices to 12.3% above list price.
Randolph: Sold at 5% above list price.
Basking Ridge: Sold at 2% above list price.
Chester: Homes sold at exactly list price.
We did see two towns where homes sold below list price, but context is key:
Morristown/Morris Township (-9%): This was primarily driven by a single, beautifully done "flip" home initially listed aggressively at $2,185,000 that ultimately sold for $1,999,000.
Morris Plains (-7%): This discount was tied to a specific property flagged as being in a potential flood zone—which brings us to a crucial piece of advice for sellers.
💡 Top Agent Advice: Navigating FEMA Flood Zones
If you are preparing to list your home, do not go to market if there is a pending question about your property being in a flood zone. When a title search company designates a home as being in a flood zone, buyers will naturally expect a discount for taking on that perceived risk. If you (or your agent) believe that designation is inaccurate, you must clear it up before listing.
How to handle an inaccurate flood zone designation:
Hire a qualified engineer to evaluate the property.
If the engineer confirms the home is not at risk, apply for an amendment with FEMA to formally dispute the flood certification.
Wait until the record is permanently corrected before listing.
I have successfully helped clients navigate this exact scenario, saving them from taking unnecessary price cuts for negative factors that didn't actually exist. Your real estate agent should be highly proficient in managing these types of hurdles.
🌸 Spring Market Strategy: Don't Wait for the Flowers to Bloom!
I am currently helping many clients prep their homes for the market, and I keep hearing the same thing: "Let's wait for the leaves to come in and the spring flowers to bloom so the photos look better."
My advice? Do not wait. If you wait for full summer foliage, you risk missing the peak urgency of the Spring Market and sliding into the traditional summer slowdown.
As a premier agent, my team utilizes cutting-edge AI photo editing technology. Have beautiful hydrangeas in your front yard that are currently just bare branches? We can utilize photos from last summer, or take professional photos today and seamlessly integrate your blooming hydrangeas into the shot. We can make your property look in full bloom right now, allowing you to capitalize on current buyer demand without compromising on your marketing presentation.
Ready to Make Your Move?
The 2026 Spring Market is moving rapidly. Whether you are looking to secure top dollar for your current property or need expert negotiation skills to win a bidding war in Chatham or Madison, you need an experienced advisor in your corner.
[Contact me today] to schedule a private consultation and find out exactly what your home is worth in today's market. And if you are out and about this weekend, enjoy the beautiful, warm weather and be sure to pop into one of my open houses!
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