Chatham Township Housing Market Report February 2025•Morris County, New Jersey

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Housing Prices in Chatham Township, NJ

How much do homes in Chatham Township, NJ cost?

Housing Market Conditions

Is Chatham Township, NJ a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Chatham Township is a Buyer's Market

Difference Since February 2024

At the same time last year, Chatham Township was a Neutral Market.

Insight

Chatham Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$1,215,000$607/SqFt
+$215,100
+21.5%

Based on all homes sold in the last 12 months

Insight

Homes in Chatham Township have sold for 21.5% more than they did a year ago.

Summary: The median home sold price in Chatham Township was $1,215,000 in February 2025, up 21.5% from last year, and the median price per square foot was $607.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Madison
+23.5%
Chatham Township
+21.5%
Chatham
+20.1%
New Providence
+13.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$400.1K$425K
+6.2%
2$515K$530K
+2.9%
3$855K$902K
+5.5%
4$1.2M$1.4M
+17.4%
5$2.0M$2.1M
+5.2%

Summary: Chatham Township housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +6.2%. The home price for 2 bedroom homes increased by +2.9%. The home price for 3 bedroom homes increased by +5.5%. The home price for 4 bedroom homes increased by +17.4%. The home price for 5 bedroom homes increased by +5.2%.

Housing supply in Chatham Township, NJ

How many homes are available in Chatham Township, NJ?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
53Last MonthFeb 2025
402 months agoJan 2025
+32.5 %
Change MoMJan – Feb

Summary: The Chatham Township real estate market had 53 homes for sale in Feb 2025, a 32.5 % increase compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
7Last MonthFeb 2025
132 months agoJan 2025
-46.2 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
134
+33.3%
223
+50.0%
31212
0.0%
4612
+100.0%
51722
+29.4%

Summary: Chatham Township housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +33.3%. The inventory for 2 bedroom homes increased by +50.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes increased by +29.4%.

Asking Price vs. Sold Price

How much do homes in Chatham Township, NJ cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price4 Homes

At Asking Price1 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Chatham Township, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Chatham Township in February 2025, down by 46.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and and 57% were sold over asking.

Days on Market for Chatham Township, NJ

How long does it take to sell a home in Chatham Township, NJ?

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
0 DaysThis YearFeb 2025
21 Days1 year agoFeb 2024
0.0 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Chatham Township had an average listing age of 0 days in Feb 2025, down by .0% compared to the previous year.

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Newest Listings in Chatham Township, NJ

What homes are available in Chatham Township, NJ?

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MLS Disclaimers and Copyright

Based on information from Garden State MLS, for the period 03/01/2023 - 03/01/2025

Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/2/2025, 5:20:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.