$7.3 Million Home Tops Latest Sales in Parsippany-Troy Hills

A single-family home in Parsippany has made headlines this week, selling for an impressive $7.3 million. This sale marks the highest residential real estate transaction in the Parsippany-Troy Hills area from November 10 to November 16, 2023. A total of 13 residential properties exchanged hands during this period, with an average sale price of $3.6 million, translating to approximately $275 per square foot.

Overview of Recent Sales

The list of recent sales showcases a range of properties, highlighting both modest family homes and luxurious estates. Notably, the property at 2 Eastmans Road, built in 1964, stands out for its exceptional final price, finalized on October 28.

Here are the other key transactions that occurred during this timeframe:

10. A single-family home at 2467 State Route 10 BLDG30-6B in Morris Plains sold for $299,000. This home, constructed in 1960, features a living area of 1,021 square feet and a price per square foot of $293, finalizing on October 28.

9. Another detached house located at 56 Calumet Ave. in Lake Hiawatha changed hands for $410,000. Built in 1940, this home was also finalized on October 28.

8. The property at 16 Caldwell Road in Parsippany sold for $465,000. This 1,254 square-foot home, built in 1951, achieved a price of $371 per square foot, with the sale completed on October 27.

7. A single-family home located at 25 Carlson Place in Lake Hiawatha sold for $500,000. Built in 1960, the house spans 1,424 square feet, resulting in a price per square foot of $351. The deal was finalized on October 28.

6. The residence at 65 Preston Road in Parsippany has new owners following a sale price of $550,000. This home, constructed in 1952, offers 1,056 square feet of living space, bringing the price per square foot to $521, with the transaction completed on October 28.

5. Another notable transaction occurred at 28 Liberty Court, where a 2,032 square-foot home sold for $690,000 at a price per square foot of $340. The sale, finalized on October 30, involved a property built in 1949.

4. The property at 113 Glenbrook Road in Morris Plains has been sold for $849,000. This home was built in 1949 and offers 2,264 square feet, achieving a price of $375 per square foot. The deal was finalized on October 28.

3. A sale was completed for a single-family house at 303 Mountain Way in Morris Plains for $850,000. Built in 1958, this residence spans 1,637 square feet with a price per square foot of $519, finalizing on October 27.

2. The property at 4 Shelter Cove Road in Morris Plains sold for $1.1 million. Constructed in 1986, this home features a living area of 3,448 square feet, translating to a price of $316 per square foot, with the sale finalized on October 29.

Market Insights

The sale of the home at 2 Eastmans Road highlights the potential for high-value transactions in the Parsippany-Troy Hills area. The recent dynamics of the market indicate a strong demand for residential properties, particularly those offering substantial living space and desirable locations.

As this week’s figures illustrate, the real estate market in Parsippany continues to attract a mix of buyers, ranging from first-time homeowners to those seeking upscale properties. The variety in sale prices emphasizes the area’s diverse housing landscape.

For those interested in the real estate trends in Parsippany and surrounding areas, it is clear that the region remains a competitive market, with opportunities available across various price points. As the year progresses, it will be interesting to observe how these trends evolve and what they mean for potential buyers and sellers alike.