With only 0.5 months of inventory, Morristown remains a seller's market. Home prices have decreased 76.6% in the past month. At the current pace, all available homes in Morristown would sell out in just 0.5 months, indicating a continued supply shortage. Homes are taking about 36 days to sell, which is 0 days longer than this time last year. A significant 100.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Morristown market with the affordability index at 376.2. Based on current market indicators, home prices in Morristown are projected to increase by approximately 30.0% over the next month.