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
Mon Aug 10 2026
This week the median list price for Short Hills, NJ 07078 is $3,725,000 with the market action index hovering around 47. This is an increase over last month's market action index of 46. Inventory has decreased to 25.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Real-Time Market Profile
| Median List Price | $3,725,000 | |
| Median Price of New Listings | $3,250,000 | |
| Per Square Foot | $600 | |
| Average Days on Market | 115 | |
| Median Days on Market | 63 | |
| Price Decreased | 44% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 25 | |
| Median Rent | ||
| Market Action | 47 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code at a plateau even though prices dipped this week. Look for a persistent change in the Market Action Index (up or down) before we see prices significantly deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $5,188,000 | 8,682 | 0.5 - 1 acre | 7 | 7.5 | 2 | 0 | 0 | 105 |
| $3,989,000 | 6,995 | 0.5 - 1 acre | 6 | 6.8 | 5 | 0 | 0 | 56 |
| $3,569,000 | 6,246 | 0.5 - 1 acre | 6 | 6.3 | 1 | 1 | 0 | 31 |
| $2,275,000 | 0 | 0.25 - 0.5 acre | 5 | 4.3 | 71 | 2 | 0 | 49 |