Historical Morris County, New Jersey Offers Homebuying Opportunities
by Blanche Evans
Historical Morris County is among fastest-growing in the state of New Jersey, say local Realtors. "Morris County has 39 municipalities within its boarders and is one of the fastest growing counties in the state," says Realtor Robert Allison. "Formerly able to claim to be the home of more millionaires than anywhere else in the world, today's Morris County offers the average Jersey citizen historic views, countryside charm and the conveniences of modern-day towns. Morris County is known as the military capital of the American Revolution. General Washington found this area so valuable that he chose and area outside of Morristown to camp for two winters. Not only is Morris County rich in history, it is also the home to several universities in New Jersey, including Drew University, Fairleigh Dickinson University, College of St. Elizabeth, and Seton Hall University. Morris County also has a two-year community college for area residents." "The real estate market in Morris County is still strong," says Allison, "with options of housing ranging from homeownership in towns or the countryside, to apartment and condo rentals. You can expect a slowing of the market in through out the state as we get closer to busy holiday times and further into the fall season. The average price for a home in Morris County falls between $350,000 and $450,000. Single family homes can start as low as $129,999 and go as high at $9.5 million. Condos and townhouses are also available for purchase, ranging in price from $93,000 to $850,000. He adds, "Land is also available in Morris County. As the millionaires moved out to avoid the increasing cost of living and property taxes, these rich estates were demolished, allowing new owners to purchase smaller pieces of land. Plots range in size as well as price in Morris County. You can buy a plot that measure less than .5 acres or a plot that boasts of 204 acres. The range of prices for land run as wide as the plot size options, with pieces starting at $19,900 and reaching as high as $7.5 million. Morristown "Morristown is Morris County's most famous municipality," says Realtor Anthony Tony Gervasio. "Its history is part of the rich heritage of our country. The town and the region are known for their important role in the American revolution. During the winter of 1779-80 and on several other occasions, General Washington headquartered at the beautiful Ford Mansion, now a National Historic Park and Museum. Revolutionary soldiers spent the long winter of 1779-80 camped at nearby Jockey Hollow." Gervasio advises, "Another important market measure is the inventory of unsold homes being offered for sale which declined by 1,848 homes from September to October. At the end of October, the inventory of homes being offered for sale represented a 3.6 month supply, down from a 4.0 month supply at the end of September. Despite these strong market indicators, murmurs continue to be heard about a slowdown taking root in the market. While this is certainly true in the upper price-points that comprise the luxury home market, all other price segments remain strong and evidence a continuing escalation in home prices." |
