Millburn - Short Hills Market Update

Navigating the Current Real Estate Market: A Window of Opportunity for Sellers

By Simon Westfall-Kwong

Our local real estate market continues to demonstrate remarkable strength, with many segments remaining quite hot despite some homes—particularly those at higher price points—experiencing longer days on the market. This dynamic contributes to a slightly higher absorption rate in Millburn Township, reflecting a balanced yet competitive environment. The most encouraging news is that record-high average sold prices across our community underscore sustained demand at all price levels.

Over the past three years, the total number of homes sold has diminished, a trend that has directly influenced these record prices. Short Hills, in particular, experienced its lowest number of home sales in over two decades, with only 141 homes sold in 2025. This scarcity of inventory is a defining feature of today’s market and continues into early 2026. So far this year, only four homes have closed, with a similar number under contract compared to last year, suggesting that February’s overall sales will remain lower than usual.

As we enter the “Early Spring” market, the pattern of limited inventory persists, especially for homes priced under $2.7 million in Short Hills. This scarcity has motivated buyers to act swiftly, often accommodating sellers’ preferred timelines and terms. For homeowners contemplating a move, this creates a unique and advantageous window of opportunity.

If you’re considering selling your home this winter or spring, now is an excellent time to explore your options. Our team is ready to help you understand your home’s value in today’s strong seller’s market. We offer tailored home preparation strategies designed to maximize your sale price and provide expert guidance on your next steps—whether you’re upsizing, downsizing, or relocating.

Let’s connect for a complimentary, confidential consultation to discuss your goals and how we can help you make the most of this market. Please call or text me anytime at 917-774-9242. Together, we can turn today’s market conditions into your next success story.