Anthony Licciardello | June 1, 2026
Chatham, NJ
Tight inventory, fast sales, and a median in the high $1.3 millions. Here’s where Chatham’s market actually stands this spring — with the data reconciled across sources.
Data as of late May 2026, drawn from Redfin, Movoto, Zillow, and Garden State MLS–sourced reporting. Figures are directional; Chatham’s small monthly sales volume makes single-month numbers volatile.
As of spring 2026, Chatham is a tight, fast, competitive seller’s market. The most reliable read puts the median sale price in the high $1.3 millions, homes are selling in under two weeks on average, active inventory is thin, and well-positioned homes routinely meet or beat asking. Year-over-year appreciation is positive but the exact figure depends heavily on which source and month you use — so read the trend, not any single percentage.
A market report is only as honest as its willingness to show the disagreement in the data. For a town like Chatham — high-value, low-volume, and split across two municipalities — the published numbers diverge more than most. This report pulls the major sources together as of late spring 2026, sets the outlier aside, and gives you the defensible read rather than a single tidy figure that wouldn’t survive scrutiny.
Compiled late May 2026 from Redfin, Movoto, Zillow, and Garden State MLS–sourced reporting. Sources measure different things (closed-sale medians vs. smoothed value indexes) and Chatham’s low monthly volume makes single-month figures volatile — read the ranges, not any one number.
Here are the spring 2026 figures side by side. Read across them and a consensus emerges in the low-to-high $1.3 millions for actual sale prices, with Zillow’s lower number reflecting its smoothed all-stock value index rather than closed sales.
| Source | Figure | What it measures |
|---|---|---|
| Redfin (07928) | ~$1.31M, +14.7% YoY | Median sale price, April |
| Movoto | ~$1.40M, $475/sqft | Median, April |
| Zillow ZHVI | ~$1.10M, +3.5% YoY | Smoothed value index, all stock |
| Redfin (city, Mar) | $1.2M, “+51%” YoY* | Median off ~8 sales — small-sample noise |
*The 51% year-over-year jump reflects only about eight closed sales that month and is a statistical artifact, not a real price move. A separately circulating “$850K median” figure does not reconcile with any closed-sale data here and is excluded as unreliable.
Never anchor an offer or a list price to one month’s headline median here. With only a handful of sales closing monthly, two luxury transactions can swing the number six figures. The defensible figure for spring 2026 is a median in the high $1.3 millions for sale prices — and even that should be pressure-tested against same-municipality comps for your specific home.
On speed, the sources agree more cleanly than on price. Homes are moving in roughly 9 to 14 days on the market this spring — faster than the New Jersey statewide median, which sat around 50 days. That alone tells you Chatham is operating in a different gear than the broader state.
Competition is correspondingly intense. Sale-to-list ratios are at or above 100%, meaning the typical home sells for its asking price or more, and the most desirable listings draw multiple offers and can close meaningfully above ask. By the competitiveness scores the portals publish, Chatham reads as a hot market where well-prepared, well-priced homes don’t linger.
Fast and competitive cuts both ways, and sellers misread it constantly. A hot market doesn’t mean “price high and wait” — it means a correctly priced home gets bid up, while an overpriced one still sits and then signals trouble. The speed is a reason to price right, not to price greedy.
The engine behind the price strength and the speed is scarcity. As of late May 2026, active listings across Chatham numbered somewhere in the mid-teens to low thirties depending on the source and the day — a very small standing inventory for a sought-after town. When only a couple dozen homes are available at once and the buyer pool is deep, every well-located listing competes hard.
A notable share of what is available is new construction or rebuild-related — reflecting the teardown dynamic reshaping Chatham’s high end — alongside the historic Borough homes and Township estates. Buyers should expect to move decisively when the right home appears, because waiting for “more options” rarely pays off in a market this thin.
Chatham’s numbers make more sense against the backdrop. New Jersey’s statewide median was roughly $545,000 this spring, up modestly year over year, with homes taking around 50 days to sell. Chatham’s median runs more than double the state figure and its homes sell several times faster — a gap driven by the school district, the Midtown Direct commute, and the limited supply of homes inside that combination.
Within Morris County and the desirable Midtown Direct towns, Chatham sits firmly in the premium tier. It typically prices below ultra-luxury Short Hills on a per-square-foot basis while commanding a clear premium over the broader county — the “top-tier but not the very top” position that keeps its buyer demand both strong and deep.
If you’re selling: conditions favor you, but the win comes from precise pricing on same-municipality comps and strong presentation — not from chasing the highest headline number. Hot markets reward correctly priced homes with competition; they punish overpriced ones with stale days on market.
If you’re buying: come prepared to move quickly and competitively on the right home, with financing lined up and a clear read on what a given section’s comps support. In a thin, fast market, hesitation is the most expensive habit — and overpaying out of panic is the second.
For why these sources disagree and how Chatham’s market works structurally, see the complete Chatham real estate guide; to weigh the two towns, the Borough vs. Township guide.
What is the median home price in Chatham, NJ right now?
As of spring 2026, the most defensible read is a median sale price in the high $1.3 millions. Sources range from Zillow’s ~$1.10M value index to Movoto’s ~$1.40M median; a one-month “+51%” figure reflects small-sample noise and shouldn’t be read as a real trend.
How fast are homes selling in Chatham?
Quickly — roughly 9 to 14 days on market this spring, versus about 50 days statewide. Sale-to-list ratios are at or above 100%, and the most desirable homes can sell above asking with multiple offers.
Is it a buyer’s or seller’s market in Chatham?
A seller’s market, as of spring 2026 — thin inventory, fast sales, and strong sale-to-list ratios. That said, overpriced homes still stall, so accurate pricing remains essential even in a seller-favorable market.
Why do Chatham market figures vary so much between websites?
Because they measure different things and the town’s sales volume is low. Some report closed-sale medians, others a smoothed value index; some blend Borough and Township; and a few monthly sales can swing any single number. Read several sources and the trend, not one figure.
This report is informational and reflects data available as of late May 2026 from Redfin, Movoto, Zillow, and Garden State MLS–sourced reporting. Market data is approximate, lags real time, and changes frequently; figures are not a guarantee of value. For a current valuation of a specific property, consult a licensed real estate professional.
Anthony Licciardello
Broker of The Prodigy Team and a licensed real estate broker in New Jersey and New York. A former Director of Community Affairs in the Bloomberg Administration and member of the Staten Island Growth Management Task Force, Anthony tracks the Chatham and Midtown Direct markets with a data-first, source-checked approach. 718-873-7345
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