Q1 Market Report 2021 I Turpin Realtors

NORTH CENTRAL NEW JERSEY

MARKET REPORT 2021 FIRST QUARTER

FIRST QUARTER MARKET REPORT 2021

About the Data • • • • •

This study includes all residential home sales in the towns indicated as reported by Garden State Multiple Service LLC (GSMLS), including condominiums and townhomes. It does not include land sales, commercial sales or rentals.

Year to Date “Overview” sales data is as​​reported​​to GSMLS on 4/7/21.

When considering Supply and Demand, it is generally accepted that a supply of six months represents a balanced market. Below six months tends to be a seller’s market, with prices rising, and above six months generally indicates a buyer’s market with downward pressure on pricing.

Average Sales per month is calculated on the number of sales for the current year.

The relatively tiny amount of transaction data in some categories can lead to wild swings that do not necessarily point to a trend in one direction or another.

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: Trendgraphix

CONTENTS

FIRST QUARTER MARKET REPORT 2021 Bedminster Berkeley Heights Bernards Twp. Bernardsville Boonton Town Boonton Twp. Bridgewater Twp. Califon Chatham Boro Chatham Twp. Chester Boro Chester Twp. Clinton Town

Clinton Twp. Far Hills Florham Park Harding Twp. Lebanon Boro Lebanon Twp. Long Hill Twp. Madison Maplewood Mendham Boro Mendham Twp. Millburn Morris Plains

Cover image: 3 Linfield Ln, Califon

Morris Twp. Morristown Mountain Lakes New Providence Peapack-Gladstone Randolph Twp. Readington Twp. Summit Tewksbury Twp. Warren Washington Twp. Watchung Westfield

COMMENTARY FIRST QUARTER MARKET REPORT 2021 Heightened demand for residential real estate continued to exceed supply across North Central New Jersey during the first quarter of 2021. In most cases, especially the more popular price ranges and regions, we shifted to a seller’s market. Outbound migration from urban centers, the continuing work-from-home trend, a years-long shortage of new residential construction, and increased interest from millennial buyers are all contributing factors.

Inventory Challenges Below $1 Million In the popular under-$1 million price segment, all but two of the 39 towns we studied had less than three month’s supply during the first quarter, and the majority had between one and two month’s supply. Several towns, including Chatham Borough, Mendham Borough, Peapack-Gladstone, and Bedminster, had well below one month’s supply of homes for sale. The result has been an increase in competing bids and a subsequent rise in prices.

Month’s Supply: For reference, month’s supply is defined as the amount of time it would take for existing inventory to be sold out, based on the current rate of sale.

A balanced market has six to eight months of supply.

The Sweet Spot: $1-2 Million During the first quarter of 2021, the $1-2 million segment was a fine example of a balanced market, where increased buyer demand was met with sufficient inventory. Many towns that previously experienced oversupply in this price range, like Chester Township, Mendham Township, Bernardsville, and Tewksbury, posted between four and eight months of inventory during the first quarter. Nevertheless, there were outliers.

For example, inventory was low for homes priced between $1-2 million in Summit, Millburn-Short Hills, The Chathams, and Madison, while no town was more pressed than Maplewood, at just 0.25 month’s supply. In contrast, month’s supply was in the double digits for homes priced between $1-2 million in Boonton Township, Mendham Borough, and Berkeley Heights during the first quarter.

Improvement in the Upper End Between January and March, higher-priced homes traded at a pace we had not seen for many years in this segment, and all signs point to a continuation of this trend. Increased volume at the upper end also gave a boost to the median sale price in most towns, as compared to the same period last year. Although that’s welcome news for the upper end, the median price increase should not be misconstrued as across-the-board appreciation.

A Word About Pricing According to Jeffrey Otteau, of the Otteau Valuation Group, the average sale price of a home in New Jersey increased by 11.6% in 2020, which is the greatest single-year increase since 2005. Nevertheless, and as always, home values depend on local market conditions, which vary from town to town and even across price segments within a given town. Where inventory is exceedingly tight, high buyer demand leads to multiple bids and price increases. Conversely, in towns or market segments that present more supply, prices appreciate at a lower rate, and in some cases not at all.

To be sure, these are exciting times for residential real estate. Many of our communities have quickly transitioned from a buyer’s market to a seller’s market. Success in these conditions requires astute perspective and a broad-ranging skillset. At Turpin, we are focused on ensuring our team has the knowledge, training, and support to help our clients thrive in this new climate — from accurate pricing strategies in a rapidly evolving market to best practices for handling multiple bids.

John Turpin, President www.TurpinRealtors.com/Reports © 2021 Turpin Realtors

Source: GSMLS and TrendGraphix

BEDMINSTER FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

41

48.8%

61

TOTAL DOLLAR VOLUME

$28,257,038 $15,482,800 82.5%

MEDIAN SALE PRICE

$350,000

$320,000

9.4%

AVERAGE SALE PRICE

$463,230

$377,629

22.7%

60

50

20%

96.4%

97.3%

-0.9%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE NC

0 0

YTD

2021

YTD

2020

1 0

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

60 41

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

46.3%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

15 20.00 0.75

INVENTORY

AVG SALES PER MONTH

3 0.00

MONTH’S SUPPLY

∞

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

2 0.33 6.00

INVENTORY

AVG SALES PER MONTH

4 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

BERKELEY HEIGHTS FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

33

21.2%

40

TOTAL DOLLAR VOLUME

$24,799,500 $18,011,750 37.7%

MEDIAN SALE PRICE

$600,500

$550,000

9.2%

AVERAGE SALE PRICE

$619,987

$545,810

13.6%

44

82

-46.3%

99.6%

97.0%

2.6%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

39 33

YTD

2020

1 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

18.2%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

27 13.00 2.08

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

6 0.33 18.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

BERNARDS TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

76

18.4%

90

TOTAL DOLLAR VOLUME

$57,742,072 $46,982,472 22.9%

MEDIAN SALE PRICE

$586,500

$590,000

-0.6%

AVERAGE SALE PRICE

$641,578

$618,190

3.8%

48

84

-42.9%

99.0%

96.0%

3.2%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

15 5

YTD

2021

YTD

2020

0 1

200%

7.1%

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

75 70

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

100%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

30 25.00 1.20

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

15 5.00 3.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

5 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

BERNARDSVILLE FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

41

TOTAL DOLLAR VOLUME

% CHANGE

22

86.4%

$37,174,944 $14,961,665 148.5%

MEDIAN SALE PRICE

$770,000

$528,000

45.8%

AVERAGE SALE PRICE

$906,705

$680,075

33.3%

AVERAGE DAYS ON MARKET

111

% SALES PRICE TO LIST PRICE

96.5%

100 11.0% 95.5%

1.1%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

% CHANGE

11 4

55.6%

YTD

2021

YTD

2020

2 0

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

28 18

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

175.0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

22 9.33 2.36

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

17 3.67 4.64

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

6 0.67 9.00

INVENTORY

AVG SALES PER MONTH

3 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

BOONTON TOWN FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021

Q1 2020

% CHANGE

13

15

-13.3%

$5,828,000

$6,198,500

-6.0%

MEDIAN SALE PRICE

$425,000

$417,500

1.8%

AVERAGE SALE PRICE

$448,307

$413,233

8.5%

33

52

-36.5%

HOMES SOLD TOTAL DOLLAR VOLUME

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

100.8%

98.3% 2.6%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

ç

13 15

YTD

2020

% CHANGE NC

0 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

13.3%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

11 4.33 2.54

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

BOONTON TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

12

50%

18

TOTAL DOLLAR VOLUME

$12,100,900 $3,893,000 210.8%

MEDIAN SALE PRICE

$612,500

$353,750

73.1%

AVERAGE SALE PRICE

$672,272

$324,416

107.2%

81

94

-13.8%

97.6%

93.9%

3.8%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

% CHANGE

ç

ç

17 12

YTD

2020

1 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

41.7%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

8 5.67 1.41

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

4 0.33 12.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

1 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

BRIDGEWATER TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

116

TOTAL DOLLAR VOLUME

% CHANGE

97 19.6%

$61,146,768 $45,969,852 33.0%

MEDIAN SALE PRICE

$489,000

$443,000

10.4%

AVERAGE SALE PRICE

$527,127

$473,916

11.2%

54

61

-11.5%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

100.2%

97.5% 2.8%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2020

% CHANGE

ç

5 3

ç

111 94

YTD

2021

18.1%

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

66.7%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

45 37.00 1.22

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

4 1.67 2.40

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CALIFON FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

6

TOTAL DOLLAR VOLUME

% CHANGE

4 50%

$2,014,900 $1,090,000 84.9%

MEDIAN SALE PRICE

$372,450

$246,250 51.2%

AVERAGE SALE PRICE

$335,816

$272,500 23.2%

AVERAGE DAYS ON MARKET

40

71 -43.7%

% SALES PRICE TO LIST PRICE

98.5%

98.5% 0.1%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

ç

6 4

YTD

2021

YTD

2020

% CHANGE NC

0 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

50%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

4 2.00 2.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CHATHAM BORO FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

13

230.8%

43

TOTAL DOLLAR VOLUME

$45,626,600 $9,681,300 371.3% $957,000

MEDIAN SALE PRICE AVERAGE SALE PRICE

$630,400

51.8%

$1,061,083 $744,715 42.5%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

51

65

-21.5%

99.7%

96.1%

3.7%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

16 2

YTD

2021

YTD

2020

3 0

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

24 11

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

700%

118.2%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

6 8.00 0.75

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

12 5.33 2.25

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

1 1.00 1.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CHATHAM TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

25

80%

45

TOTAL DOLLAR VOLUME

$52,031,752 $28,660,276 81.5%

MEDIAN SALE PRICE

$1,090,000 $985,000 10.7%

AVERAGE SALE PRICE

$1,156,261 $1,146,411

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

0.9%

38

57

-33.3%

99.1%

96.5%

2.7%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

61.5%

YTD

2020

3 6

216.7%

% CHANGE

YTD

2021

YTD

2020

% CHANGE

2 0

ç

19 6

YTD

2021

$3,000,000 AND UP

ç

ç

ç

21 13

YTD

2020

$2,000,000-$2,999,999

50%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

13 7.00 1.86

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

11 6.33 1.74

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

9 1.00 9.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

4 0.67 6.00

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CHESTER BORO FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

3

TOTAL DOLLAR VOLUME

% CHANGE

5 -40%

$1,882,000 $1,902,000 -1.1%

MEDIAN SALE PRICE

$587,000

$400,000 46.8%

AVERAGE SALE PRICE

$627,333

$380,400 64.9%

AVERAGE DAYS ON MARKET

56

83 -32.5%

% SALES PRICE TO LIST PRICE

99.7%

97.3% 2.4%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2020

% CHANGE NC

0 0

ç

3 5

YTD

2021

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

40%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

4 1.00 4.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CHESTER TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

22

54.5%

34

TOTAL DOLLAR VOLUME

$23,963,300 $11,572,709 107.1%

MEDIAN SALE PRICE

$614,500

$557,125

10.3%

AVERAGE SALE PRICE

$704,802

$526,032

34.0%

AVERAGE DAYS ON MARKET

89

% SALES PRICE TO LIST PRICE

94 -5.3%

98.6%

97.1% 1.5%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

3 0

YTD

2021

YTD

2020

1 0

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

30 22

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

36.4%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

11 10.00 1.10

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

6 1.00 6.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

2 0.33 6.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CLINTON TOWN FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

15

TOTAL DOLLAR VOLUME

% CHANGE

12 25.0%

$5,904,500 $3,827,100 54.3%

MEDIAN SALE PRICE

$365,000

$329,500 10.8%

AVERAGE SALE PRICE

$393,633

$318,925 23.4%

AVERAGE DAYS ON MARKET

32

72 -55.6%

% SALES PRICE TO LIST PRICE

98.2%

98.0% 0.2%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

15 12

YTD

2020

% CHANGE NC

0 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

25.0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

5 5.00 1.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

CLINTON TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

27

96.3%

53

TOTAL DOLLAR VOLUME

$26,021,240 $9,389,300 177.1%

MEDIAN SALE PRICE

$490,000

$325,000

50.8%

AVERAGE SALE PRICE

$490,966

$347,751

41.2%

50

53

-5.7%

99.4%

96.6%

2.9%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

52 27

YTD

2020

1 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

92.6%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

14 17.33 0.81

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

1 0.33 3.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

0

AVG SALES PER MONTH

0.00

MONTH’S SUPPLY

N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

FAR HILLS FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE

Q1 2020

% CHANGE

5

3

66.7%

$5,103,497

$3,270,000

56.1%

$755,000

$705,000

7.1%

$1,020,699 $1,090,000 -6.4%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

92

160

-42.5%

89.1%

88.5%

0.6%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2020

% CHANGE

ç

ç

3 2

YTD

2021

2 1

50%

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

100%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

6 1.00 6.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

1 0.67 1.50

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

2 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

2 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

FLORHAM PARK FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

17

70.6%

29

TOTAL DOLLAR VOLUME

$22,104,900 $12,226,551 80.8%

MEDIAN SALE PRICE

$670,000

$675,000

-0.7%

AVERAGE SALE PRICE

$762,237

$719,208

6.0%

70

52

34.6%

98.4%

96.8%

1.6%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

% CHANGE

ç

ç

23 14

YTD

2020

6 3

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

100%

64.3%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

12 7.67 1.57

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

7 2.00 3.50

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

1 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

HARDING TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021

Q1 2020

% CHANGE

10

16

-37.5%

$13,913,250

$17,028,250

-18.3%

HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE

$1,472,500 $990,000 48.7%

AVERAGE SALE PRICE

$1,391,325 $1,064,265 30.7%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

80

129

-38.0%

99.7%

91.9%

8.5%

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

% CHANGE

ç

ç

3 8

YTD

2020

6 7

YTD

2021

YTD

2020

1 1

14.3%

62.5%

$3,000,000 AND UP

$2,000,000-$2,999,999 % CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

2 1.00 2.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

5 2.00 2.50

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

5 0.33 15.00

INVENTORY

AVG SALES PER MONTH

11 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

LEBANON BORO FIRST QUARTER MARKET REPORT 2021

Overview HOMES SOLD TOTAL DOLLAR VOLUME

Q1 2021

Q1 2020

% CHANGE

9

4

125.0%

$3,114,027 $1,078,000 188.9%

MEDIAN SALE PRICE

$305,000

$265,500 14.9%

AVERAGE SALE PRICE

$346,003

$269,500 28.4%

AVERAGE DAYS ON MARKET

36

63 -42.9%

% SALES PRICE TO LIST PRICE

99.4%

96.3% 3.3%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

9 4

$2,000,000-$2,999,999

% CHANGE

YTD

2020

YTD

2021

NC

0 0

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

125.0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

2 3.00 0.67

INVENTORY

0

AVG SALES PER MONTH

MONTH’S SUPPLY

0.00

N/A

$2,000,000-$2,999,999 INVENTORY

0

AVG SALES PER MONTH

0.00

$3,000,000 AND UP

MONTH’S SUPPLY

N/A

INVENTORY

0

AVG SALES PER MONTH

0.00

MONTH’S SUPPLY

N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

LEBANON TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

20

TOTAL DOLLAR VOLUME

% CHANGE

18 11.1%

$8,594,800 $7,100,633 21.0%

MEDIAN SALE PRICE

$362,500

AVERAGE SALE PRICE

$429,740 $394,479 8.9%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

$446,950 -18.9%

44

110 -60%

99.5%

94.2% 5.5%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

20 18

YTD

2020

$2,000,000-$2,999,999

% CHANGE

YTD

2021

NC

0 0

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

11.1%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

14 6.67 2.10

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

$2,000,000-$2,999,999 INVENTORY

0

AVG SALES PER MONTH

0.00

$3,000,000 AND UP

MONTH’S SUPPLY

N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

LONG HILL TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

25

-20%

20

TOTAL DOLLAR VOLUME

$12,511,000 $12,155,000

2.9%

MEDIAN SALE PRICE

$581,250

$480,000

21.1%

AVERAGE SALE PRICE

$625,550

$486,200

28.7%

48

86

-44.2%

96.8%

3.4%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

100.1%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

18 25

YTD

2020

2 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

28.0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

18 6.00 3.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

4 0.67 6.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MADISON FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021

Q1 2020

% CHANGE

34

39

-12.8%

$34,185,920

$30,604,400

11.7%

$942,500

$670,000

40.7%

HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE

$1,005,468 $784,728 28.1%

AVERAGE DAYS ON MARKET

40

% SALES PRICE TO LIST PRICE

98.1%

73

-45.2%

95.9%

2.3%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

15 5

YTD

2021

YTD

2020

0 1

200%

42.4%

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

19 33

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

100%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

17 6.33 2.68

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

10 5.00 2.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

2 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

1 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MAPLEWOOD FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

64

15.6%

74

TOTAL DOLLAR VOLUME

$52,484,352 $36,604,024 43.4%

MEDIAN SALE PRICE

$652,500

$557,500

17.0%

AVERAGE SALE PRICE

$709,248

$571,937

24.0%

35

42

-16.7%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

107.2%

102.2% 4.9%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

12 2

YTD

2021

YTD

2020

1 0

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

61 62

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

500%

1.6%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

27 20.33 1.33

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

1 4.00 0.25

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.33 0.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MENDHAM BORO FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

10

150%

25

TOTAL DOLLAR VOLUME

$15,358,888 $5,264,000 191.8%

MEDIAN SALE PRICE

$575,000

$502,500

14.4%

AVERAGE SALE PRICE

$614,355

$526,400

16.7%

55

155

-64.5%

98.8%

97.1%

1.7%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

24 10

YTD

2020

1 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

140%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

5 8.00 0.63

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

7 0.33 21.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

1 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

1 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MENDHAM TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021

Q1 2020

% CHANGE

27

23

17.4%

$27,766,200

$14,924,148

86.0%

$800,000

$629,000

27.2%

HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE

$1,028,377 $648,876 58.5%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

56

78

-28.2%

97.7%

94.6%

3.3%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

8 2

YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

1 0

ç

ç

ç

18 21

YTD

2020

$2,000,000-$2,999,999

300%

14.3%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

13 6.00 2.17

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

15 2.67 5.63

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

4 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

3 0.33 9.00

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MILLBURN FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

52

38.5%

72

TOTAL DOLLAR VOLUME

$98,168,752 $64,743,000 51.6%

MEDIAN SALE PRICE

$1,177,500 $1,049,500 12.2%

AVERAGE SALE PRICE

$1,363,454 $1,245,057

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

9.5%

50

75

-33.3%

98.9%

97.7%

1.2%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

YTD

2020

10 11

106.7%

11.5%

% CHANGE

YTD

2021

YTD

2020

% CHANGE

2 0

ç

31 15

YTD

2021

$3,000,000 AND UP

ç

ç

ç

29 26

YTD

2020

$2,000,000-$2,999,999

9.1%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

14 9.67 1.45

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

24 10.33 2.32

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

7 3.33 2.10

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

15 0.67 22.50

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MORRIS PLAINS FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

17

35.3%

23

TOTAL DOLLAR VOLUME

$11,647,399 $8,198,667 42.1%

MEDIAN SALE PRICE

$525,900

$486,667

8.1%

AVERAGE SALE PRICE

$506,408

$482,274

5.0%

41

53

-22.6%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

101.5%

94.8% 7.0%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

23 17

$2,000,000-$2,999,999

% CHANGE

YTD

2020

YTD

2021

NC

0 0

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

35.3%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

10 7.67 1.30

INVENTORY

0

AVG SALES PER MONTH

MONTH’S SUPPLY

0.00

N/A

$2,000,000-$2,999,999 INVENTORY

0

AVG SALES PER MONTH

0.00

$3,000,000 AND UP

MONTH’S SUPPLY

N/A

INVENTORY

0

AVG SALES PER MONTH

0.00

MONTH’S SUPPLY

N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MORRIS TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

65

30.8%

85

TOTAL DOLLAR VOLUME

$58,709,336 $39,861,328 47.3%

MEDIAN SALE PRICE

$650,000

$585,000

11.1%

AVERAGE SALE PRICE

$690,698

$613,251

12.6%

45

56

-19.6%

99.3%

97.6%

1.7%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

76 61

YTD

2020

9 4

24.6%

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

125.0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

39 25.33 1.54

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

13 3.00 4.33

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

0

AVG SALES PER MONTH

0.00

MONTH’S SUPPLY

N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

MORRISTOWN FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

33

45.5%

48

TOTAL DOLLAR VOLUME

$25,936,400 $16,472,300 57.5%

MEDIAN SALE PRICE

$542,500

$437,500

24.0%

AVERAGE SALE PRICE

$540,341

$499,160

8.3%

54

53

1.9%

99.3%

96.8%

2.5%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

46 31

YTD

2020

% CHANGE

2 2

NC

$3,000,000 AND UP

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

0%

48.4%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

26 15.33 1.70

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

5 0.67 7.50

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

2 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Source: GSMLS 4/7/21 & Trendgraphix

MOUNTAIN LAKES FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

15

6.7%

16

TOTAL DOLLAR VOLUME

$13,012,000 $9,379,250 38.7%

MEDIAN SALE PRICE

$805,500

$595,000

35.4%

AVERAGE SALE PRICE

$813,250

$625,283

30.1%

44

105

-58.1%

98.4%

96.8%

1.7%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

% CHANGE

3 1

7.1%

ç

ç

13 14

YTD

2020

$3,000,000 AND UP

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

200%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

5 4.33 1.15

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

6 1.00 6.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

2 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

0

AVG SALES PER MONTH

0.00

MONTH’S SUPPLY

N/A

10 Year Market History

© 2021 Turpin Realtors

Source: GSMLS 4/7/21 & Trendgraphix

NEW PROVIDENCE FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

26

30.8%

34

TOTAL DOLLAR VOLUME

$21,811,700 $18,025,000 21.0%

MEDIAN SALE PRICE

$642,600

$632,500

1.6%

AVERAGE SALE PRICE

$641,520

$693,269

-7.5%

35

65

-46.2%

99.4%

97.2%

2.2%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

33 23

YTD

2020

1 3

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

66.7%

43.5%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

15 11.00 1.36

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

1 0.33 3.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

PEAPACK-GLADSTONE FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

7

128.6%

16

TOTAL DOLLAR VOLUME

$15,157,125 $7,055,999 114.8%

MEDIAN SALE PRICE

$717,500

$700,000

2.5%

AVERAGE SALE PRICE

$947,320

$1,007,999

-6.0%

82

98

-16.3%

96.4%

89.8%

7.4%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $0-$999,999 YTD

2021

YTD

2020

$1,000,000-$1,999,999

% CHANGE

YTD

2021

% CHANGE

YTD

2020

0 1

200%

140%

% CHANGE

YTD

2021

YTD

2020

% CHANGE

1 0

ç

3 1

YTD

2021

$3,000,000 AND UP

ç

ç

ç

12 5

YTD

2020

$2,000,000-$2,999,999

100%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

2 4.00 0.50

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

3 1.00 3.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.33 0.00

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

RANDOLPH TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

59

-1.7%

58

TOTAL DOLLAR VOLUME

$34,305,500 $26,383,464

30%

MEDIAN SALE PRICE

$553,750

$408,000

35.7%

AVERAGE SALE PRICE

$591,474

$447,177

32.3%

39

65

-40%

97.9%

2.3%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

100.2%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2020

% CHANGE

ç

3 0

ç

55 59

YTD

2021

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

6.8%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

23 18.33 1.25

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

1 1.00 1.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

READINGTON TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

58

3.4%

60

TOTAL DOLLAR VOLUME

$30,365,650 $24,894,610

22%

MEDIAN SALE PRICE

$487,500

$459,250

6.2%

AVERAGE SALE PRICE

$506,094

$429,217

17.9%

63

77

-18.2%

98.8%

98.6%

0.1%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

60 58

YTD

2020

% CHANGE NC

0 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

3.4%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

25 20.00 1.25

INVENTORY

AVG SALES PER MONTH

3 0.00

MONTH’S SUPPLY

∞

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

1 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

SUMMIT FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021

Q1 2020

% CHANGE

70

57

22.8%

$75,554,000

$53,239,348

41.9%

$932,250

$828,000

12.6%

HOMES SOLD TOTAL DOLLAR VOLUME MEDIAN SALE PRICE AVERAGE SALE PRICE

$1,079,342 $934,023 15.6%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

46

82

-43.9%

99.1%

96.3%

2.8%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

YTD

2020

3 2

18.2%

18.2%

% CHANGE

YTD

2021

YTD

2020

% CHANGE

2 0

ç

26 22

YTD

2021

$3,000,000 AND UP

ç

ç

ç

39 33

YTD

2020

$2,000,000-$2,999,999

50%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

19 13.00 1.46

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

15 8.67 1.73

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

7 1.00 7.00

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

3 0.67 4.50

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

TEWKSBURY TWP. FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

28

-7.1%

26

TOTAL DOLLAR VOLUME

$19,965,176 $15,991,607 24.8%

MEDIAN SALE PRICE

$749,500

$559,500

34.0%

AVERAGE SALE PRICE

$767,891

$571,128

34.5%

72

101

-28.7%

97.5%

97.1%

0.4%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

23 27

YTD

2020

3 1

14.8%

$3,000,000 AND UP

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

200%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

16 7.67 2.09

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

8 1.00 8.00

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

4 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

WARREN FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

40

30%

52

TOTAL DOLLAR VOLUME

$46,111,400 $29,335,836 57.2%

MEDIAN SALE PRICE

$700,000

$747,500

-6.4%

AVERAGE SALE PRICE

$886,757

$733,395

20.9%

62

63

-1.6%

97.2%

96.1%

1.2%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

13 4

2.8%

YTD

2021

YTD

2020

2 0

% CHANGE

YTD

2021

ç

ç

ç

37 36

YTD

2020

$3,000,000 AND UP

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

225.0%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

23 12.33 1.86

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

22 4.33 5.08

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

2 0.67 3.00

INVENTORY

AVG SALES PER MONTH

1 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

WASHINGTON TWP. (MORRIS COUNTY) FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

48

10.4%

53

TOTAL DOLLAR VOLUME

$25,290,800 $21,680,910 16.7%

MEDIAN SALE PRICE

$435,000

$447,500

-2.8%

AVERAGE SALE PRICE

$477,184

$451,685

5.6%

32

84

-61.9%

96.3%

4.7%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

100.8%

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

ç

53 48

YTD

2020

% CHANGE NC

0 0

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

10.4%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

26 17.67 1.47

INVENTORY

AVG SALES PER MONTH

2 0.00

MONTH’S SUPPLY

∞

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

0 0.00 N/A

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

WATCHUNG FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

% CHANGE

13

146.2%

32

TOTAL DOLLAR VOLUME

$25,641,924 $9,438,500 171.7%

MEDIAN SALE PRICE

$690,000

$662,500

4.2%

AVERAGE SALE PRICE

$801,310

$726,038

10.4%

66

72

-8.3%

97.1%

94.1%

3.2%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

ç

ç

24 11

YTD

2020

8 2

$2,000,000-$2,999,999 YTD

2021

YTD

2020

0 0

$3,000,000 AND UP

% CHANGE

YTD

2021

NC

YTD

2020

% CHANGE

0 0

NC

300%

118.2%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

10 8.00 1.25

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

11 2.67 4.13

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

2 0.00

$3,000,000 AND UP

MONTH’S SUPPLY

∞

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

0 0.00 N/A

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

WESTFIELD FIRST QUARTER MARKET REPORT 2021

Overview Q1 2021 HOMES SOLD

Q1 2020

105

TOTAL DOLLAR VOLUME

% CHANGE

88 19.3%

$98,719,752 $70,492,944

40%

MEDIAN SALE PRICE

$850,000

$694,500

22.4%

AVERAGE SALE PRICE

$940,188

$801,056

17.4%

48

70

-31.4%

99.1%

97.8%

1.3%

AVERAGE DAYS ON MARKET % SALES PRICE TO LIST PRICE

Sales by Price $1,000,000-$1,999,999

$0-$999,999 YTD

2021

YTD

2020

% CHANGE

YTD

2021

% CHANGE

29 23

YTD

2021

YTD

2020

4 0

$3,000,000 AND UP

% CHANGE

YTD

2021

ç

ç

ç

72 65

YTD

2020

$2,000,000-$2,999,999

YTD

2020

% CHANGE

0 0

NC

26.1%

10.8%

Supply and Demand (as of March 31, 2021) $1,000,000-$1,999,999

$0-$999,999 INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

29 24.00 1.21

INVENTORY

AVG SALES PER MONTH

MONTH’S SUPPLY

17 9.67 1.76

$2,000,000-$2,999,999 INVENTORY

AVG SALES PER MONTH

$3,000,000 AND UP

MONTH’S SUPPLY

2 1.33 1.50

INVENTORY

AVG SALES PER MONTH

3 0.00

MONTH’S SUPPLY

∞

10 Year Market History

© 2021 Turpin Realtors

Subject to Errors and Omissions

Source: GSMLS 4/7/21 & Trendgraphix

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