Chatham Township New Jersey Real Estate Trends: August 2025 Market Report and Lifestyle Guide

Chatham Township’s market is showing both strength and selectivity. Year to date, the median sales price is up 15.9% compared with last year, reaching $1,686,836. At the same time, fewer homes have traded, with closed sales down 16.1% year over year 2025. Days on market have increased to an average of 33 days, up 71% from 2024, reflecting more balance and giving buyers greater leverage.

Local Market Snapshot August 2025

Median Listing Price: $1,377,812
Median Sold Price: $1,457,250 (up 15.9% YoY)
Sale Price to List Price Ratio: 105.23%
Homes Sold: 16 in August | 99 YTD (down 16.1% YoY)
Average Days on Market: 57 in August (YTD average 33, up from 19 in 2024)
Inventory Level: 14 active listings (flat vs. last year)

Price Ranges in Chatham Township August 2025

Under $1M
Demand remains strong for townhomes and smaller single-family homes. Example: 10F Heritage Drive sold 3.7% over ask in 11 days, while 868 River Rd sold 3.7% over ask in 16 days

$1M–$1.5M
Competitive activity. Example: 10 Pembrooke Rd closed 23% over ask in just 13 days, while 198 Lafayette Ave sold 6% below list in 20 days.

$1.5M–$2M
Mixed performance with some standout results. Example: 102 Huron Dr sold 23% over ask in 10 days, while 40 Thornley Dr sold 9% below list after 73 days.

$2M–$3M
Strong demand for well-updated Colonials. Example: 27 Westminister Rd sold 16% over ask in 12 days, while 15 Poplar Ln sold essentially at list in 15 days.

Above $3M
Selective market with limited but notable activity. Example: 7 Sycamore Dr sold 2% over ask in 14 days, while 286 Lafayette Ave sold 7% over ask but lingered for 642 days.

What is Really Happening in the Chatham Township Market

Chatham Township remains desirable, but the dynamics are shifting. Values are climbing, yet homes are taking longer to sell compared with last year. Buyers are increasingly selective, with demand strongest for updated homes under $2.5M. Above that level, performance varies widely based on condition, location, and pricing strategy.

For sellers, correct pricing is critical. For buyers, increased time on market means stronger negotiating power, though the best properties continue to draw multiple offers and sell quickly.

Buyer and Seller Insights

For Buyers
● You have more leverage with average DOM up 71% compared with last year
● Homes under $1.5M and renovated properties remain highly competitive
● Luxury homes above $2.5M show greater variability, creating room for negotiation

For Sellers
● Median sales price is up 15.9% YoY
● Homes that are updated and priced correctly are still closing quickly, often above ask
● With sales volume down 16.1% YoY, strong marketing and presentation are essential

Local Market Outlook

Chatham Township is expected to see continued moderation into the fall. Inventory is holding steady, but homes are spending more time on the market. Sellers who align pricing with buyer expectations will continue to find success, while buyers benefit from more negotiating room and increased choice.

Featured Listings in Summit and Beyond

Explore this month’s standout homes across Chatham Township and nearby areas. From renovated Colonials to luxury new builds, these listings showcase the best of local living.

View Featured Listings

About Chatham Township, NJ

Chatham Township is a sought-after community in Morris County, located less than 30 miles from Manhattan. Known for its historic neighborhoods, excellent schools, and scenic surroundings, it offers both suburban charm and easy access to New York City.

Residents enjoy a balance of quiet, tree-lined streets with access to vibrant nearby downtowns in Chatham Borough, Madison, and Summit. The township is home to beautiful parks and preserved green space, creating a welcoming environment that appeals to families and professionals alike.

Premium schools, a strong sense of community, and housing that ranges from classic Colonials to luxury estates make Chatham Township one of the most desirable places to live in New Jersey.

FAQs on Chatham Township

Q: Are home prices still rising in Chatham Township?
A: Yes, the median sales price is up 15.9% YoY.

Q: Is it a buyer’s or seller’s market?
A: The market is balancing. Sellers still benefit from higher pricing, but buyers have more negotiating room with longer days on market.

Q: What types of homes are selling fastest?
A: Renovated Colonials and homes under $2M are attracting multiple offers and closing quickly.

Q: How long are homes taking to sell?
A: Average DOM is 57 in August, with the YTD average at 33, up 71% from last year

Q: Should I list now or wait?
A: Listing now positions you ahead of seasonal slowdowns and helps capture strong pricing before more competition builds.

Q: Do homes above $2.5M sell quickly?
A: Not always. Some sell within weeks if updated and well located, while others sit on the market for months or longer.

Are You Ready to Make a Move

Whether you are preparing to sell a Chatham Township property, searching for your next home, or planning a move to one of New Jersey’s most desirable towns, The Saritte Harel Team is your trusted partner. Ranked among the Top 5 Realtors in New Jersey and the Top 1.5% nationwide, our team brings the strategy and expertise that deliver results.

Connect with us today to discuss your goals and learn how we can help you succeed in the Chatham Township market.

Follow @saritteharelteam on Instagram for exclusive listings, market insights, and local updates.