Is Chatham, NJ 07928 a buyer’s or seller’s market?
Chatham is a seller’s market. With about 0.8 months of supply and 71% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
#15 of 112 ZIP codes in Essex, Morris, Union, Sussex & Hunterdon, NJ, and #23 of 531 across all the markets we track.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. How the heat score works
The Chatham housing market right now
In the three months ending August 31, 2026, 71% of homes in Chatham, NJ 07928 sold above their list price, the typical home went under contract in 14 days and there were 0.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 80 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 77%, homes sold about as fast and the median sale price rose 19% to $1,661,781. Overall, Chatham is less competitive than a year ago, which gives buyers more room.
Within Morris County, homes here sell faster than in 91% of the county’s ZIP codes, and sell more often over asking than in 63%. On our competition score, Chatham ranks #13 of 444 NJ ZIP codes with enough sales (score 97 out of 100).
Nearby, buyers who want less competition could look at Hibernia 07842 (0% sold over asking) or New Vernon 07976 (20% sold over asking), while Kenvil 07847 (100% sold over asking) and Mount Tabor 07878 (100% sold over asking) are even more competitive.
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Nearby markets
Boonton 07005Seller’s market $365 /sq ftBudd Lake 07828Seller’s market $325 /sq ftButler 07405Seller’s market $342 /sq ftCedar Knolls 07927Seller’s market $392 /sq ft Browse all markets →Towns like Chatham nearby
Find towns like Chatham in other states →Where Chatham is
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Questions about Chatham real estate
Is Chatham a buyer’s or seller’s market?
A seller’s market: there were 0.8 months of supply in Chatham, NJ 07928 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Chatham?
The typical home went under contract in 14 days in the latest three months.
Do homes in Chatham sell over asking?
71% of homes sold above their original list price, and the typical sale closed at 109.2% of the list price.
What are property taxes in Chatham?
About 1.53% of a home’s value a year in Chatham Boro, Morris County, or roughly $6,108 on a $400,000 home.
What is the median home price in Chatham?
The median sale price was $1,661,781 in the three months ending August 31, 2026, about $676 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology