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PARSIPPANY, NJ 07054

Real Estate Market Report  ·  Morris County
Buyer's Market
September 2026  ·  Source: Realtor.com

Market Analysis

Data as of September 2026. Source: Realtor.com.

The PARSIPPANY, NJ real estate market (07054) currently shows 51 active listings, with 23 pending sales. Homes are averaging 33 days on the market before going under contract.

Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 33 days on market compared to 20 days last year.

The median listing price has risen 14.7% year-over-year, from $695,975 to $798,450.

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Market Context

Market Context

Population: 30,392  ·  Density: 848.5/mi²  ·  Median household income: $105,434

Typical home value: $558,211  ·  Homeownership: 49.8%

Market Overview

Active Listings
51
⇧ 10.9% vs 46 last year
Pending
23
45% pending ratio
Median Price
$798,450
⇧ 14.7% vs $695,975 last year
Average Price
$814,144
⇧ 19.3% vs $682,311 last year
Days on Market
33
⇧ 65% vs 20 days last year

Price Per Square Foot

Median $/sqft
$311
⇩ 21.9% vs $398/sqft last year
Median Home Size
3,117 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 51 this year vs 46 last year
  • Days on market: 33 now vs 20 last year

Median & Average Pricing

Year over Year
  • Median: $798,450 (+14.7% YoY)
  • Average: $814,144 (+19.3% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 8.5 miles — 328 listings ($380,093,298 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
07054Parsippany, NJ 070540.0 mi25$19,118,850$717,750$764,754
07981Whippany, NJ 079812.4 mi8$7,213,920$859,000$901,740
07936East Hanover, NJ 079363.2 mi19$17,915,917$925,000$942,943
07927Cedar Knolls, NJ 079273.6 mi5$3,792,500$758,500$758,500
07878Mount Tabor, NJ 078784.1 mi2$1,172,000$586,000$586,000
07834Denville, NJ 078344.9 mi41$26,674,600$481,975$650,600
07932Florham Park, NJ 079325.4 mi16$28,143,552$1,873,500$1,758,972
07004Fairfield, NJ 070045.5 mi5$5,028,815$874,250$1,005,763
07039Livingston, NJ 070396.2 mi53$102,824,134$1,844,750$1,940,078
07940Madison, NJ 079406.6 mi21$50,763,027$2,347,500$2,417,287
07960Morristown, NJ 079607.0 mi58$77,481,156$950,000$1,335,882
07866Rockaway, NJ 078668.1 mi52$26,262,600$523,450$505,050
07044Verona, NJ 070448.5 mi23$13,702,227$607,000$595,749

Frequently Asked Questions

How many homes are for sale in PARSIPPANY, NJ 07054?

As of September 2026, there are 51 active listings in PARSIPPANY, NJ (zip code 07054), compared to 46 the prior year.

What is the median home price in PARSIPPANY, NJ 07054?

The median listing price in PARSIPPANY, NJ 07054 is $798,450 as of September 2026, a 14.7% increase from $695,975 the prior year.

How long do homes stay on the market in PARSIPPANY, NJ?

Homes in PARSIPPANY, NJ 07054 spend an average of 33 days on the market before going under contract, compared to 20 days the prior year.

Is it a seller's or buyer's market in PARSIPPANY, NJ 07054?

Based on current inventory and days-on-market data as of September 2026, PARSIPPANY, NJ 07054 is currently a Buyer's Market. Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 33 days on market compared to 20 days last year.

How much can I save on real estate commission in PARSIPPANY, NJ?

With SELL123.com's maximum 3% commission, sellers in PARSIPPANY, NJ 07054 save an estimated $15,969 compared to a typical 5% commission on the median listing price of $798,450. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.