Absorption Rates October 2024.

REAL MARKET STATISTICS

Absorption Rates Week of Oct 28 th 2024

Town

Total Units

30 Day UC Absorption Rate

Days on Market UC

Average List Price UC

7

5

1.4

18

$1,026,800

Chatham Boro

25

10

2.5

52

$1,174,500

Chatham Twp

13

12

1.1

24

$1,392,000

Madison

27

19

1.4

26

$2,527,421

Short Hills/ Milburn

21

13

1.6

19

$1,774,531

Summit

33

22

1.5

33

$1,334,818

Westfield

Absorption Rates Chatham Boro

(Months)

5.0

4.0

3

3.0

2.6

2.1

2

1.8

1.8

2.0

1.5

1.4

1.4

1.2

1.2

1 1

1

1 0.9

0.9 1

1 1.1 1

0.8

0.80.8

0.8

1.0

0.7

0.7 0.6

0.6 0.5 0.7

0.5 0.4 0.6

0.5 0.4

0.5 0.6

0.5 0.6 0.5

0.30.3

0.0

Absorption Rates Chatham Twp

(Months)

5

4

4

3

3

3

2.8

3

2.5 2.6

2.5

2.2

2

2 1.9

2

2

1.9

1.91.81.9 2

1.8

1.8

2

1.7

1.6

1.6

1.5

1.4 1.51.5

1.4

1.3

1 1.1 1 1.1 1

1

1 0.9

0.80.8 0.9

0.8

1

0.6

0

Absorption Rates Madison

(Months)

5.0

3.8

4.0

3.0

3.0

2.5

2.4

2.0

2

2 2

2

1.9

2.0

1.6

1.4

1.4 1.3

1.4 1.3

1.4

1.2

1.2

1.2

1.2

1.0

1

1

1 1

1

1

1 0.9

1 1.1 1 1.1

0.8

0.8 0.9

0.8 0.9

1.0

0.7

0.7

0.50.5

0.0

Absorption Rates Short Hills / Milburn

(Months)

5.0

4.0

3.4

3.0

2.8

3.0

2.5 2.6

2.3

1.8

1.8

2.0

1.4 1.51.5

1.4

1.4

1.3 1.4

1.4

1.4

1.4

1.4

1.3

1.3 1.21.2

1.2

1.2

1.2

1.2

1.2

1.2

1.2

1.2

1.0

1 1

1

1 1

1

1

1

0.9 1

1.0

0.7

0.0

Absorption Rates Summit

(Months)

3.5

3

3

2.7

2.5

2.4

2.5

2.2

2.1

2

2

2

2

1.8

1.7

1.6

1.6

1.5

1.5

1.4

1.4

1.5

1.3

1.3

1.2

1.2

1.21.2

1.2

1.1

1.1

1.1

1.1

1.0

1

1

1

1

1

1

0.9

0.9

1

0.8

0.8

0.7 0.7

0.6

0.5

0.5

0

Absorption Rates Westfield

(Months)

2

1.9

1.8

1.8

1.7

1.7

1.6

1.6

1.6

1.5

1.51.5

1.5

1.5

1.51.5

1.5

1.5

1.4

1.4

1.3

1.3

1.3

1.3

1.3

1.2

1.2

1.2

1.21.2

1.2

1

1

1

1

1

1

1

1

1

0.9

0.9

0.9

0.9

0.8

0.8

0.8

0.8

0.7

0.6

0.5

0.4

0.2

0

Market Appreciation/Depreciation

Absorption

Annual Variation

Monthly Variation

Average

1

20%

25%

1.7%

2.1%

1.9%

2

15%

20%

1.3%

1.7%

1.5%

3

10%

15%

0.8%

1.3%

1.0%

4

5%

10%

0.4%

0.8%

0.6%

5

5%

5%

0.4%

0.4%

0.4%

6

0%

5%

0.0%

0.4%

0.2%

7

-5%

-10%

-0.4%

-0.8%

-0.6%

8

-10%

-15%

-0.8%

-1.3%

-1.0%

9

-15%

-20%

-1.3%

-1.7%

-1.5%

10

-20%

-25%

-1.7%

-2.1%

-1.9%

Absorption Rates Week of Oct 28 th 2024

Town

Total Units

30 Day UC Absorption Rate

Days on Market UC

Average List Price UC

48

34

1.4

23

$1,115,520

Livingston

27

21

1.3

23

$955,614

Maplewood

31

29

1.1

39

$1,313,793

Montclair

23

14

1.6

18

$1,037,929

South Orange

71

39

1.8

26

$601,251

West Orange

Absorption Rates Livingston

(Months)

3.5

3.3

3

3

3

2.4

2.4

2.5

2.2

2

2

2

1.9

2

1.8

1.8

1.8

1.8

1.8

1.61.6

1.6

1.6

1.6

1.6

1.5

1.5

1.5

1.41.4

1.5

1.3

1.3

1.3

1.3

1.3

1.31.3

1.2

1.21.2

1.21.2

1

1 1

1

0.9

1

0.5

0

Absorption Rates Maplewood

(Months)

5

4

2.8

3

2.2

2.2

2

1.8

2

1.5

1.4

1.3

1.3

1.2 1.3

1.2

1.1 1

1

1 1

1 0.9

1

1 0.9

0.9

0.9

0.80.90.90.8

0.8

0.8

0.8

0.8

0.8 0.7

1

0.7

0.7

0.6

0.6

0.6

0.5 0.4

0.5

0.4

0

Absorption Rates Montclair

(Months)

5

4

3

2.3

2.1

2

2

1.8 1.9

2

1.41.4 1.3

1.41.51.41.5

1.4

1.2

1.2

1.2

1 1 1 1.1

1

1

1 0.9

1

1 1.1 1

1

1 1 1.1

0.9 0.8

0.8

0.8

0.8

1

0.7

0.7

0.6

0.60.6

0

Absorption Rates South Orange

(Months)

5

4

3

2.3

2.1 2

2

2 2

2 2

1.9

1.8

1.8

2

1.7

1.6

1.6

1.6

1.5

1.5

1.5 1.4

1.4

1.2

1

1.0

0.9 1

1

1

0.8

0.80.8

0.8

0.8 0.9 0.7 0.80.8

1

0.7

0.7

0.6

0.5

0.5

0.50.5

0

Absorption Rates West Orange

(Months)

3

2.5

2.5

2.1

2.12.1

2

2

1.8

1.81.8

1.7

1.7

1.6

1.5

1.5

1.5

1.5

1.5

1.5

1.4

1.4

1.5

1.31.3

1.1

1.1

1.1

1.1

1.1

1.1

1.1

1

1

1

1

1

1

1

0.9

0.9

1

0.8

0.8

0.8

0.7

0.7

0.6

0.5

0

Market Appreciation/Depreciation

Absorption

Annual Variation

Monthly Variation

Average

1

20%

25%

1.7%

2.1%

1.9%

2

15%

20%

1.3%

1.7%

1.5%

3

10%

15%

0.8%

1.3%

1.0%

4

5%

10%

0.4%

0.8%

0.6%

5

5%

5%

0.4%

0.4%

0.4%

6

0%

5%

0.0%

0.4%

0.2%

7

-5%

-10%

-0.4%

-0.8%

-0.6%

8

-10%

-15%

-0.8%

-1.3%

-1.0%

9

-15%

-20%

-1.3%

-1.7%

-1.5%

10

-20%

-25%

-1.7%

-2.1%

-1.9%

Absorption Rates Week of Oct 28 th 2024

Town

Total Units

30 Day UC Absorption Rate

Days on Market UC

Average List Price UC

33

26

1.3

13

$901,750

Bernards Twp

27

8

3.4

25

$762,825

Morristown

26

20

1.3

22

$1,004,830

Morris Twp

37

13

2.8

39

$1,018,069

Warren

15

5

3

52

$1,037,380

Watchung

Absorption Rates Bernards Twp

(Months)

5.0

4.0

2.8

3.0

2

1.8

2.0

1.7

1.5

1.5

1.4

1.4

1.2 1.3

1.3

1.2

1.2

1.2

1.2

1.0

1 0.90.9

1

1 0.9 1

1

1

1

1 0.9 1

0.9 0.8 0.8

0.8 0.9 0.8

0.80.8 0.9 1

0.8 0.7

1.0

0.7

0.5

0.0

Absorption Rates Morristown

(Months)

6.0

5.0

4.0

3.5

3.4

2.8

3.0

2.5

2.3

2.1

2.12.1

2.0

2.0

2 2.1 2 1.9

2

2

2

1.8

1.8

1.8

2.0

1.7

1.5

1.4 1.5

1.3

1.2 1.3

1.21.2

1.2

1.0

1 0.90.90.80.8 1

1 0.9

0.9

0.8 0.70.7

1.0

0.0

Absorption Rates Morris Twp

(Months)

4.8

5.0

4.0

3

3.0

2.5

1.8 1.71.7

2.0

1.7

1.51.61.51.41.4

1.5

1.3

1.2

1.2

1.1

1.1 1 1

1 1 1 0.9

1

1

1

1 1

0.9 1 1

0.8

0.8 0.9

0.80.8

0.8

1.0

0.7

0.60.6

0.6

0.3

0.0

Absorption Rates Warren

(Months)

6.0

5.0

4.0

3 3.1

3

2.8 2.7

2.8

2.8

3.0

2.7

2.7

2.5

2.5

2.4

2.3

2.3

2.1 2

2.0

2.0

2

2

2

1.9 2.0

1.9

1.8

1.81.8

1.8

2.0

1.7

1.6

1.5

1.4 1.3 1.5

1.4 1.5

1.41.4

1.4

1.3

1.3

1.2

1.1

1.0

0.0

Absorption Rates Watchung

(Months)

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.8

3.6

4.0

3 3

3

3 2.8

3

2.8

2.8 3

2.7

2.5

2.5 2.7

3.0

2.4

2.4

2.42.5

2.3

2.3

2.2

2.2 2

2.2

2.02.1

2

2

1.9

1.8

1.8 2

1.7

1.6 1.8

1.5

1.5

2.0

1.4

1.2

1

0.5

1.0

0.0

Market Appreciation/Depreciation

Absorption

Annual Variation

Monthly Variation

Average

1

20%

25%

1.7%

2.1%

1.9%

2

15%

20%

1.3%

1.7%

1.5%

3

10%

15%

0.8%

1.3%

1.0%

4

5%

10%

0.4%

0.8%

0.6%

5

5%

5%

0.4%

0.4%

0.4%

6

0%

5%

0.0%

0.4%

0.2%

7

-5%

-10%

-0.4%

-0.8%

-0.6%

8

-10%

-15%

-0.8%

-1.3%

-1.0%

9

-15%

-20%

-1.3%

-1.7%

-1.5%

10

-20%

-25%

-1.7%

-2.1%

-1.9%

Absorption Rates Week of Oct 28 th 2024

Town

Total Units

30 Day UC Absorption Rate

Days on Market UC

Average List Price UC

24

13

1.8

51

$669,146

Denville

7

7

1

43

$2,367,714

Harding

34

7

4.8

37

$1,603,750

Mendham Twp

11

3

3.7

42

$776,000

Morris Plains

6

6

1

24

$997,983

Mountain Lakes

25

12

2.1

22

$884,150

Randolph

Absorption Rates Denville

(Months)

3.5

3.1

3.0

2.6

2.4

2.5

2.2

2.0

2.0

2

2

1.9

1.9

2.0

1.8

1.8

1.8

1.8

1.8

1.8

1.6

1.6

1.6

1.6

1.6

1.6 1.6

1.5

1.5

1.5

1.5

1.4

1.4

1.4

1.4

1.4

1.5

1.3

1.3

1.2

1.2

1.2

1.2

1.1

1

1 1

0.9

1.0

0.5

0.0

Absorption Rates Harding

(Months)

16.0

14.014.0

14.0

13.013.0

12.0

10.0

8.0

6.0

5

4.5

4.3

4

4 3.8

3.7

3.33.3

4.0

3.0

3

2.5

2.5

2.3

2 2.12.2 2 2 2.32.1 2

2.2 2

1.9 2 1.81.8 2

1.8

1.81.81.81.5

1.61.8

1.2 1 1

2.0

0.0

-2.0

Absorption Rates Mendham Twp

(Months)

12.0

10.3

10.0

8.0

6

5.7

6.0

5.3

5.0

5 5

5

4.8

4.6

4.5

4.2

4.0

4

4

3.8

3.5

4.0

3.1

3.0

3 3

2.8 3

2.6 2.8

2.8

2.6

2.6

2.5

2.5

2.5

2.2 2

2.0

2 1.8

1.7

1.5 1.7

1.5

2.0

1.11.21.2

0.0

Absorption Rates Morris Plains

(Months)

4.5

4

4.0

3.7

3.5

3

2.8

2.8

3.0

2.5

2.5

2.0

2

1.8

2.0

1.6 1.5

1.5

1.5

1.5

1.4

1.4

1.3

1.5

1.2

1.2

1.2

1.2

1.2

1.1

1.1

1.1

1.0

1.0

1

1 0.9

1

1

0.9

0.9

0.8

0.8

0.8

0.8

1.0

0.7

0.7

0.5

0.5

0.3

0.5

0.0

Absorption Rates Mountain Lakes

(Months)

7.0

6

6.0

5.05.0

5.0

4

4.0

3.3

3.03.03.0

3.0

3.0

3

3

3

2.8

3.0

2.6

2.5

2.42.5

2.2

2

2

2

2

2

2

1.8

1.81.9

1.8

2.0

1.6 1.5 1.6

1.5

1.5

1.21.11.1

1 1

0.8

0.70.8

1.0

0.5

0.0

Absorption Rates Randolph

(Months)

3.0

2.7

2.5

2.1

2

1.9

2.0

1.6

1.6

1.5

1.51.5

1.4

1.5

1.3

1.2

1.2

1.2

1.1

1.0

1

1

1

1

1

1

1

1

1

0.9

0.9

0.9

0.9

0.9

1.0

0.8

0.80.8

0.8

0.8

0.8

0.7

0.7

0.7

0.7

0.60.6

0.5

0.5

0.0

Market Appreciation/Depreciation

Absorption

Annual Variation

Monthly Variation

Average

1

20%

25%

1.7%

2.1%

1.9%

2

15%

20%

1.3%

1.7%

1.5%

3

10%

15%

0.8%

1.3%

1.0%

4

5%

10%

0.4%

0.8%

0.6%

5

5%

5%

0.4%

0.4%

0.4%

6

0%

5%

0.0%

0.4%

0.2%

7

-5%

-10%

-0.4%

-0.8%

-0.6%

8

-10%

-15%

-0.8%

-1.3%

-1.0%

9

-15%

-20%

-1.3%

-1.7%

-1.5%

10

-20%

-25%

-1.7%

-2.1%

-1.9%

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