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 Sep 22 2025
This week the median list price for Short Hills, NJ 07078 is $3,281,500 with the market action index hovering around 41. This is less than last month's market action index of 48. Inventory has increased to 26. Click here to stay informed with the Short Hills market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Short Hills, NJ 07078

Mon Sep 22 2025
This week the median list price for Short Hills, NJ 07078 is $3,281,500 with the market action index hovering around 41. This is less than last month's market action index of 48. Inventory has increased to 26. Click here to stay informed with the Short Hills market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Short Hills market.
Median List Price $3,281,500
Median Price of New Listings $2,395,000
Per Square Foot $506
Average Days on Market 89
Median Days on Market 46
Price Decreased 8%
Price Increased 0%
Relisted 19%
Inventory 26
Median Rent
Market Action 41
Slight Seller's Advantage

We continue to see prices in this zip code settled at a plateau. This week prices bumped down a bit but not significantly enough to change the overall outlook. Look for a persistent change (up or down) in the Market Action Index 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
$5,495,000 8,944 0.5 - 1 acre 7 8 0 1 0 105
$3,772,500 8,700 0.5 - 1 acre 6 6.3 24 1 0 119
$2,395,000 5,321 0.25 - 0.5 acre 5 3.5 58 4 0 0
$1,620,000 2,209 0.25 - 0.5 acre 4 3 78 3 0 3