Comprehensive market data and analysis• Updated Oct 2026
9.0 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | - | 1 | 2 | 6 |
| 1-2 acres | - | - | 1 | 1 |
| 2-5 acres | - | - | - | 1 |
| 5-10 acres | - | - | - | 1 |
| 10-20 acres | - | - | - | 1 |
| 20-50 acres | 1 | 1 | 1 | 1 |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 1 | 2 | 4 | 11 |
Acreage buckets
The median price for land in Morristown, New Jersey is currently $457K per acre. For a typical parcel, the median sale price is $1.3M. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $255K while premium lots reached $2.3M.
Morristown, New Jersey is currently a buyer's market with 9.0 months of supply. Buyers have more negotiating power and can take time to find the right property.
Morristown, New Jersey currently has 9.0 months of inventory supply. This indicates a buyer's market. Low supply means competition for available properties is high.
The median land price in Morristown, New Jersey stands at $1.3M. This translates to roughly $457K per acre for the typical parcel size. The average price is $1.2M, showing a fairly consistent market.
The 3-month absorption rate in Morristown, New Jersey is 11.1%. The 12-month rate is 16.7%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
Over the past 12 months, Morristown, New Jersey saw 12 properties sold, totaling $14.3M in sales volume. In just the last 3 months, 2 properties changed hands.
Land in Morristown, New Jersey averages $12.4M per acre. The median price per acre is $457K, which may be more representative of typical transactions. Most parcels sold are around 36,154 sq ft.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity, and some transactions are reported late. The date at the top of the page is the report date. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
See land for sale and off-market property records in Morristown on LandyDandy.
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