The Good Life Group's Market Report
Short Hills, NJ 07078
Single-Family Homes
Amy Paternite | 917-442-5130 and Ben Garrison | 917-940-3158
Short Hills, NJ 07078
Sat Jun 07 2025
This week the median list price for Short Hills, NJ 07078 is $3,993,500 with the market action index hovering around 56. This is an increase over last month's market action index of 51. Inventory has held steady at or around 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $3,993,500 | |
| Median Price of New Listings | $2,241,500 | |
| Per Square Foot | $565 | |
| Average Days on Market | 78 | |
| Median Days on Market | 35 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 17% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 56 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,697,500 | 8,525 | - | 7 | 6.8 | 1 | 0 | 1 | 98 |
| $4,185,000 | 7,181 | 6,500 - 8,000 sqft | 7 | 6.8 | 13 | 0 | 1 | 24 |
| $3,399,500 | 6,651 | 0.5 - 1 acre | 6 | 5.8 | 18 | 1 | 3 | 42 |
| $2,222,500 | 4,620 | 0.25 - 0.5 acre | 5 | 4.3 | 84 | 1 | 3 | 17 |