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
Sat Aug 02 2025
This week the median list price for Millburn, NJ 07041 is $1,287,500 with the market action index hovering around 58. This is less than last month's market action index of 63. Inventory has decreased to 8.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
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
| Median List Price | $1,287,500 | |
| Median Price of New Listings | $975,000 | |
| Per Square Foot | $607 | |
| Average Days on Market | 88 | |
| Median Days on Market | 77 | |
| Price Decreased | 13% | |
| Price Increased | 0% | |
| Relisted | 25% | |
| Inventory | 8 | |
| Median Rent | ||
| Market Action | 58 | |
| Strong Seller's Market | ||
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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 |
|---|---|---|---|---|---|---|---|---|
| $1,922,500 | 0 | 4,500 - 6,500 sqft | 5 | 4.5 | 49 | 0 | 1 | 49 |
| $1,694,000 | 2,807 | 0.25 - 0.5 acre | 4 | 3.3 | 96 | 0 | 1 | 196 |
| $925,000 | 0 | 8,000 - 10,000 sqft | 3 | 2.3 | 96 | 1 | 1 | 14 |
| $549,000 | 0 | 4,500 - 6,500 sqft | 3 | 1.3 | 136 | 0 | 0 | 91 |