The Good Life Group's Market Report
Millburn, NJ 07041
Single-Family Homes
Amy Paternite | 917-442-5130 and Ben Garrison | 917-940-3158
Millburn, NJ 07041
Fri Jan 17 2025
This week the median list price for Millburn, NJ 07041 is $2,124,500 with the market action index hovering around 48. This is less than last month's market action index of 58. Inventory has decreased to 4.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $2,124,500 | |
| Median Price of New Listings | $1,850,000 | |
| Per Square Foot | $594 | |
| Average Days on Market | 37 | |
| Median Days on Market | 28 | |
| Price Decreased | 0% | |
| Price Increased | 0% | |
| Relisted | 25% | |
| Inventory | 4 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,450,000 | 0 | 0.25 - 0.5 acre | 5 | 6 | NaN | 0 | 0 | 91 |
| $2,399,000 | 0 | - | 6 | 4 | 35 | 0 | 0 | 28 |
| $1,850,000 | 3,112 | 4,500 - 6,500 sqft | 5 | 4 | 95 | 1 | 0 | 0 |
| $438,000 | 0 | 0 - 4,500 sqft | NaN | 1.5 | 100 | 0 | 0 | 28 |