$7.3 Million Home Leads Top Sales in Parsippany-Troy Hills

A luxury home in Parsippany has set the benchmark for residential real estate in the Parsippany-Troy Hills area, selling for an impressive $7.3 million during the week of November 10 to November 16, 2023. This sale was part of a broader trend in the region, where a total of 13 residential properties changed hands, yielding an average sale price of $3.6 million or $275 per square foot.

Overview of Recent Sales

The standout property, located at 2 Eastmans Road, was built in 1964 and marks a significant transaction in the local market. The sale was finalized on October 28, 2023, reflecting the ongoing demand for upscale homes in this desirable area.

The following provides a closer look at some of the other notable sales registered during this period:

10. 2467 State Route 10 BLDG30-6B
A single-family home in Morris Plains sold for $299,000. Built in 1960, this property features a living area of 1,021 square feet, translating to $293 per square foot. The transaction was completed on October 28.

9. 56 Calumet Ave.
In Lake Hiawatha, a detached house built in 1940 changed hands for $410,000. The deal was finalized on October 28.

8. 16 Caldwell Road
A property at this address in Parsippany sold for $465,000. The 1,254-square-foot home, constructed in 1951, achieved a sale price of $371 per square foot. The sale was completed on October 27.

7. 25 Carlson Place
Another Lake Hiawatha home sold for $500,000. This detached house, built in 1960, has a living area of 1,424 square feet, resulting in a price of $351 per square foot, with the deal finalized on October 28.

6. 65 Preston Road
In Parsippany, a single-family house sold for $550,000. Built in 1952, this property spans 1,056 square feet and was sold for $521 per square foot. The transaction was completed on October 28.

5. 28 Liberty Court
This 2,032-square-foot home in Parsippany was sold for $690,000, or $340 per square foot. The house, built in 1949, had its sale finalized on October 30.

4. 113 Glenbrook Road
Another notable sale occurred at this Morris Plains address, where a home sold for $849,000. The house was built in 1949 and offers a living area of 2,264 square feet, achieving a sale price of $375 per square foot, finalized on October 28.

3. 303 Mountain Way
A sale for $850,000 was recorded for this single-family home in Morris Plains. Constructed in 1958, the property features a living area of 1,637 square feet, resulting in a price of $519 per square foot, with the deal finalized on October 27.

2. 4 Shelter Cove Road
This single-family house in Morris Plains sold for $1.1 million. Built in 1986, the residence boasts a living area of 3,448 square feet, resulting in a price per square foot of $316. The transaction was completed on October 29.

Market Insights

The overall performance of the Parsippany-Troy Hills real estate market indicates a healthy appetite for both luxury and mid-range homes. The significant sales figures reflect a stable market environment where buyers are willing to invest in quality properties.

As the week concluded, the real estate activity underscores the continued interest in the area, with homebuyers looking to capitalize on the available inventory.

With such a diverse range of properties sold, from affordable homes to luxury estates, the Parsippany-Troy Hills region remains a focal point for both local and incoming buyers seeking residential opportunities.