Real Estate Market Update for 07945 (Mendham, NJ)
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Welcome to this month's "Market Update". Let's take a look at residential real-estate activity in your area during the month of March. The number of active listings was down 15% from one year earlier and up 9% 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 850-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 36% This lower number of days may signal a positive trend in the local inventory-turnover rate. Meanwhile, The median sale price was just over 520-thousand dollars. Overall, The number of units sold Increased 25% year-over-year and Increased more than 200% month-over-month These figures may indicate that buyers have been taking advantage of competitive pricing and interest-rates. 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.
Map Information for 07945 (Mendham, NJ)
Area Information for 07945 (Mendham, NJ)
  • Community Character: High Percentage of Family Households, Low Residential Turnover, Suburb of Newark
  • Population: 9,590
  • Median Age: 35.3 yr
  • Median Commute Time: 29.07 mins
  • Educational Climate*: 4
  • Recycling Likelihood**: 143
  • Sales Tax: 7%
  • Population Density: 515/sq mi
  • Population Change Since 2000: 1%
  • Closest Airport: Newark Liberty International
  • Closest College: Rabbinical College Of America
  • Closest Jr. College: Assumption College For Sisters
  • Median Household Income: $156,687
  • Annual Residential Turnover: 11.66%
  • Median Years in Residence: 3.84 yr
  • Median Home Sales Price: $632,500
  • Closest Major Sports Team: New Jersey Devils
  • Change Avg. Household Income Since 2000: 28%
* Scale from 1-5   ** Index where 100 is the national average
Demographic Data for 07945 (Mendham, NJ)
Median Age: 35.3 Married: 55% Number of Households: 3,275 Households with Children: 1,464
Community:
    • 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 07945 (Mendham, NJ)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      West Morris Mendham High School 0.3 mi Public 9 - 12 5 4
      Mountain View Middle School 0.3 mi Public 5 - 8 5 5
      St Joseph School 0.3 mi Catholic K - 8 0 0
      Hilltop School 0.4 mi Public K - 5 5 4
      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: GreatSchools.org and Onboard Informatics © 2010
      Local Weather for 07945 (Mendham, NJ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2013 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.