Below are tables which indicate the direction of the Real Estate market in Morristown/Morrisville.  As you will see the market had been trending upwards for several years.  However, for the last couple of years Morristown sales have been dropping off as indicated by number of properties sold. Also, the average, and median, price of properties has been down the last couple of years. There is no obvious reason for this downtrend especially considering that surrounding towns seem to be maintaining prices and sale numbers.

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Year	Days On Market (Average)	Sales Price (Average)	Sales Price (Median)	Properties Sold (Total Number)	% of Asking (Average)
2000	120	$151,385	$140,000	31	97
2001	131	$127,562	$122,000	38	95
2002	107	$150,037	$139,900	65	96
2003	74	$184,619	$159,000	58	96
2004	80	$224,192	$179,900	59	96
2005	163	$263,008	$228,500	58	97
2006	132	$244,885	$207,895	51	94
2007	107	$213,055	$198,500	32	95
2008*

*Year to Date Figures

  Looking closer at the recent market the table below compares sales for the six months up to the end of December with the same time period from a year ago.  The figures would suggest that the market has cooled considerably.  Less than half the number of properties sold in the last six months as compared to 2006.  The average, and median, sales price was up however.  Due the the relatively small number of sales the increased average might be the result of a couple of expensive properties pulling it up.

For the six months ending December 31, 2007	Last six months	One Year Ago
Number of Properties Sold	10	25
Price Range	$75,000 - $535,000	$67,000 - $480,000
Days on Market (Average)	116	111
Average Price	$276,000	$242,594
Median Price	$273,000	$207,895
Percentage of Asking Price (Average)	94	95