Real Estate Market Update for 07054 (Parsippany, NJ)
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of April. The number of active listings was down 33% from one year earlier, and up 15% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 440-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 30%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 460-thousand dollars. The number of units sold increased 30% year-over-year, and increased 30% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 07054 (Parsippany, NJ)
Area Information for 07054 (Parsippany, NJ)
  • Population: 29,152
  • Median Age: 41.64 yr
  • Median Commute Time: 24 mins
  • Educational Climate*: 5
  • Sales Tax: 7%
  • Population Density: 2,124/sq mi
  • Population Change Since 2000: 4.62%
  • Closest Airport: Newark Liberty International
  • Closest College: College Of Saint Elizabeth
  • Closest Jr. College: County College Of Morris
  • Median Household Income: $82,425
  • Annual Residential Turnover: 7%
  • Median Home Sales Price: $435,000
  • Closest Major Sports Team: New Jersey Devils
  • Change Avg. Household Income Since 2000: 36.2%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 07054 (Parsippany, NJ)
Median Age: 41.64 Married: 48% Number of Households: 11,212 Households with Children: 3,340
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 07054 (Parsippany, NJ)

      School Name Distance Type Grades School Rating Parent Rating
      Troy Hills Elementary School 0.4 mi Public K-5 4 0
      New Alliance Academy Of Parsippany 0.7 mi Private 9-12 0 0
      Central Middle School 0.7 mi Public 6-8 5 0
      All Saints Academy 0.8 mi Private PRESCHOOL-8 0 0
      St. Peter The Apostle School 0.8 mi Catholic PRESCHOOL-8 0 0
      Parsippany High School 1.0 mi Public 9-12 4 3
      Pace Adult And Community Education 1.0 mi Public - 0 0
      Northvail Elementary School 1.1 mi Public K-5 5 0
      The Learning Experience 1.5 mi Private PRESCHOOL-K 0 0
      Eastlake Elementary School 1.6 mi Public PRESCHOOL-5 3 0
      Rockaway Meadow Elementary School 1.8 mi Public K-5 4 0
      Lake Parsippany Elementary School 2.1 mi Public K-5 3 0
      Brooklawn Middle School 2.6 mi Public 6-8 5 0
      St. Christopher School 2.6 mi Catholic PRESCHOOL-8 0 0
      Parsippany Christian School 2.8 mi Private PRESCHOOL-12 0 0
      St Elizabeth Nursery & Montessori School 3.3 mi Private PRESCHOOL-6 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by School Review data by
      Local Weather for 07054 (Parsippany, NJ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.