Short Hills & Millburn Real Estate Market Update: What Buyers and Sellers Should Know for Fall 2026
The Short Hills and Millburn real estate markets are heading into Fall 2026 with strong pricing, continued buyer demand and some important differences emerging between price points.
Through August, homes in both communities are selling above asking price on average. Short Hills has recorded more sales than during the same period last year, while Millburn has posted a notable increase in average sale price despite fewer transactions.
But the numbers only tell part of the story.
From our team's firsthand experience across more than 10 Short Hills and Millburn transactions since spring, move in ready homes continue to attract significant attention, luxury buyers have more inventory to consider and are becoming increasingly selective, and demand for new construction, redevelopment opportunities and premium lots remains strong.
For buyers and sellers considering a move this fall, understanding those differences matters.
Short Hills Real Estate Market: 2026 Year to Date
Through August 31, 2026, the average sale price in Short Hills reached approximately $2.75 million, up approximately 5% compared with the same period in 2025.
Homes have sold for an average of approximately 105.96% of list price, with an average of 22 days on market.
Transaction volume has also increased. 110 homes have sold in Short Hills through August, compared with 96 during the same period last year, an increase of approximately 14.6%.
That combination of higher prices, increased sales activity and shorter market times points to continued demand, but competition is not identical across every segment of the market.
Earlier in 2026, we noted that luxury buyers were becoming more deliberate even as pricing remained strong. The latest data reinforces that distinction between intense competition for certain homes and greater selectivity at the upper end of the market.
Millburn Real Estate Market: 2026 Year to Date
Millburn is telling a slightly different story.
Through August 31, the average sale price in Millburn is approximately $1.59 million, representing a 17% increase compared with the same period in 2025.
Homes are selling for approximately 106.56% of list price on average and spending approximately 23 days on market.
At the same time, transaction volume has declined. 39 homes have sold year to date, compared with 55 during the same period last year.
Lower sales volume paired with substantially higher average pricing is an important reminder that townwide averages are influenced by the mix of properties changing hands. Inventory, condition, location and price point all need to be considered when evaluating an individual Millburn home.
For sellers, the 17% increase in average sale price is encouraging, but it should not be interpreted to mean that every home's value has increased by the same amount. A property specific analysis remains essential.
Move In Ready Homes Continue to Command Attention
One of the clearest trends we are seeing firsthand is continued buyer demand for homes that feel truly move in ready.
Buyers remain willing to compete for properties that combine desirable locations with thoughtful updates, strong presentation and limited immediate work.
That does not mean every property automatically generates a bidding war. Pricing and preparation remain critical. But when the right home enters the market with the right positioning, buyer response can be significant.
Recent Short Hills transactions illustrate that competition. In August, 106 Short Hills Avenue sold for more than 10% above asking, with The Saritte Harel Team representing the seller. The August Garden State MLS report reflects a sale to list ratio of 110.36%.
We have seen similar dynamics across other recent Short Hills transactions, reinforcing that preparation, pricing, presentation and launch strategy can materially influence the final result.
For homeowners considering selling, strong buyer demand is valuable, but how a property is positioned within that demand remains critical.
The Short Hills Luxury Market Is Becoming More Selective
Short Hills remains one of New Jersey’s significant luxury residential markets, but conditions at the upper end are becoming more nuanced.
As more luxury inventory becomes available, buyers at these price points have additional choices. Because the buyer pool naturally becomes smaller as prices rise, luxury buyers can be more selective about location, lot, architecture, renovations, finishes, amenities and overall value.
This does not mean luxury demand has disappeared.
The Saritte Harel Team has represented more than 35 transactions at $3 million and above over the past five years, including more than 25 in Short Hills and Millburn.
Recent 2026 buyer representation at the upper end of the Short Hills market includes 6 Benson Court, which closed at $4.95 million, and 21 Harvey Drive, which closed above $4 million.
The team has also recently represented buyers at properties including 28 Coleridge Road, giving us firsthand visibility into buyer behavior across a range of Short Hills price points.
That activity provides an important perspective on what buyers are prioritizing now.
For luxury sellers, the key takeaway is that strong market conditions do not eliminate the need for careful positioning. Understanding how a property compares with currently available inventory has become increasingly important.
New Construction and Redevelopment Demand Remains Strong
Another important part of the Millburn and Short Hills market is continued interest in new construction and redevelopment opportunities.
Both communities are established, with limited undeveloped residential land. Buyers and builders looking to create new luxury homes therefore often evaluate existing properties not only for the house standing there today, but also for the location, lot and future potential.
Recent transactions reinforce just how competitive these opportunities can become.
20 Kean Road in Short Hills sold for more than 17% above asking, with The Saritte Harel Team representing both the buyer and seller. Rather than a traditional move in ready purchase, the transaction reflected strong demand for properties where the underlying land and redevelopment potential are a major part of the value. The August Garden State MLS report shows the home selling at 117.55% of list price.
Few examples illustrate the broader redevelopment trend better than 7 Sunset Drive in Millburn.
The original property was listed for $799,000 in February 2025. It received 13 offers, including 12 above asking, went under contract in eight days and ultimately sold for $965,000. The Saritte Harel Team represented both the sellers and buyer, Vantage Builders LLC.
Today, Vantage Builders has transformed the property into an approximately 5,900 square foot luxury residence with six bedrooms, six full baths and one half bath, now being offered through The Saritte Harel Team at just under $3 million.
The transformation was recently featured by Jersey Digs as part of a broader look at the economics driving redevelopment in Millburn.
And this is not an isolated example.
In 2025, 284 Forest Drive South in Short Hills generated 24 offers and sold for $1.72 million after being listed at $1.1 million, demonstrating just how strongly buyers and builders can respond to premium lots with redevelopment potential.
For homeowners, this introduces another important consideration when evaluating potential value. In certain situations, the appeal of a property may extend beyond the existing house to the lot, location and redevelopment potential.
What The Saritte Harel Team Is Seeing Firsthand
Market statistics provide the broad picture. Our team’s day to day transaction activity adds another layer.
Since spring, The Saritte Harel Team has represented buyers, sellers or both sides in 11 transactions across Short Hills and Millburn, including properties on Myrtle Avenue, Ridgewood Road, Western Drive, Hilltop Road, Parsonage Hill Road, Coleridge Road, Benson Court, Harvey Drive, Short Hills Avenue, Kean Road and West Road.
That activity spans both communities, multiple price points and both sides of the transaction.
Several themes stand out heading into fall.
Move in ready homes remain highly sought after. Buyers continue to respond strongly to homes that are updated, thoughtfully prepared and well positioned.
Luxury buyers have more choices. Demand remains active, but additional inventory at the upper end means buyers are evaluating properties more carefully and comparing value.
Redevelopment remains an important part of the market. Builders and end users continue to pursue premium lots, new construction and properties with long term potential.
The buyer pool remains geographically broad. New York City, Hoboken and Jersey City continue to be important feeder markets, while our team is also working with buyers coming from communities including Edgewater and Secaucus.
These distinctions are why looking only at a townwide average can miss what is actually happening within a specific neighborhood or price range.
Moving From NYC to Short Hills or Millburn?
Short Hills and Millburn remain popular choices for buyers considering a move from New York City and surrounding urban communities.
Both are part of Millburn Township and share the Millburn Township School District, while offering direct train service to New York Penn Station.
The housing options, however, can feel quite different.
Short Hills generally offers a greater concentration of larger homes, luxury properties, custom construction and larger lots. Neighborhoods including Hartshorn, Deerfield, Glenwood and Old Short Hills each offer distinct housing styles and settings.
Millburn offers a broader range of housing options and price points, including Colonials, renovated homes, split levels, townhomes and properties closer to downtown Millburn and the train station.
For relocating buyers, deciding between the two often comes down to budget, property size, architectural preference, school assignment, commute and proximity to downtown amenities.
What Should Short Hills and Millburn Sellers Know This Fall?
The headline numbers remain favorable for sellers.
Through August, Short Hills homes are averaging approximately 105.96% of list price, while Millburn homes are averaging approximately 106.56%.
But those averages should not be interpreted to mean that simply pricing a home high and waiting for the market to respond is the best strategy.
The strongest results often depend on several factors working together.
Accurate market positioning. Sellers need to understand not only previous comparable sales, but what buyers will be comparing their property against when it reaches the market.
Targeted preparation. The improvements, repairs, staging decisions and presentation details that matter most vary by property and price point.
Strategic pricing. The relationship between asking price and perceived value can directly influence showing activity and competition.
Strong launch exposure. Reaching local agents, relocation buyers, existing buyer networks and the broader digital market before and immediately after launch can make a meaningful difference.
For homeowners considering selling in Short Hills or Millburn, the current market remains strong, but the strategy should be specific to the individual home, neighborhood and price range.
What Should Buyers Know This Fall?
Buyers should continue to expect competition for the strongest homes, particularly move in ready properties in desirable locations.
At the same time, conditions vary considerably by price point.
Buyers shopping at the luxury end of the Short Hills market may have more opportunity to compare properties than buyers pursuing highly sought after homes in tighter inventory segments.
Access can also matter.
Not every opportunity begins with a public listing. Private exclusives, coming soon properties, local agent relationships and connections with homeowners and builders can all play a role in identifying homes before or as they enter the market.
For buyers relocating from New York City, Hoboken, Jersey City or elsewhere in the region, developing a strong understanding of the neighborhoods within Short Hills and Millburn before beginning the search can make the process considerably more efficient.
Is Fall 2026 a Good Time to Buy or Sell in Short Hills and Millburn?
There is no single answer that applies to every property or buyer.
For sellers, current data continues to show strong pricing, relatively quick market times and above asking sale ratios, but outcomes vary considerably by price point, condition, competition and strategy.
For buyers, increased choice in portions of the luxury market may create opportunities, while highly desirable move in ready homes can still generate substantial competition.
The better question is not simply whether the Short Hills and Millburn real estate market is strong.
It is what is happening within the specific neighborhood, property type and price range that matters to you.
With more than $1 billion in lifetime sales and extensive experience representing buyers and sellers throughout Short Hills and Millburn, The Saritte Harel Team combines current market data with firsthand local transaction experience to help clients understand those differences.
Considering selling your Short Hills or Millburn home this fall? Curious what your property could command in today’s market? Or planning a move from New York City or another nearby community? Contact The Saritte Harel Team for a confidential conversation about your next move.
Market statistics reflect Garden State MLS year to date data through August 31, 2026 and are deemed reliable but not guaranteed.
