Which Florham Park Median Is the Real One? Reading the Sold Medians and the Disputed Price Drops

Why do the Florham Park medians differ so much?

Start with what each figure measures and when. Realtor.com shows a sold median of $930,000 and a listing median of $1,199,000, and the second is 28.9% above the first, computed here. The brokerage market update shows the same $930,000 for the second quarter of 2026, though the pages do not say whether they draw on the same sales. The data page shows $925,300 for July 2026 against $991,300 for August 2025, which is 6.66% lower. Redfin shows $1,149,503 over the three months to August. Four sold medians run from $925,300 to $1,149,503, 24.2% apart, and all describe homes that closed.

The drops do not agree either. Realtor.com's 24.24% fall implies a median of about $1,227,500 a year earlier, computed here, and the brokerage update's second quarter of 2025 was $1,190,000. Redfin's 2.2% fall implies about $1,175,400 a year earlier. The windows differ, one is a single month, one a quarter and one three months, and so do the home types and the areas. The Redfin page covers a postal area that may be larger than the town, an inference. A seller reading that prices fell 22% and a seller reading that they fell 2.2% have read different samples, not different markets.

The price per square foot shows the same spread. Realtor.com gives $412, Redfin gives $480, up 13.1% in a year, and the data page gives $489 for the median value of the postal area. The Redfin figure is 16.5% above the Realtor.com one, and the data page's is 18.7% above. A per-foot price that rises 13.1% while the median sale price falls 2.2% may mean the homes that sold were smaller, since a median price and a median price per foot move with the mix of homes. That is an inference, and the page does not say it.

The listing median is a different thing. Realtor.com's $1,199,000 is 4.3% above Redfin's sold median, computed here, and the data page's median list price of about $1,200,000 agrees with it. A listing median reflects asking prices today, and in a town where a few homes list above $2,000,000 it moves with the mix of what has come to market. The data page's median estimated value of $1,074,450 is a model of all homes, including those not for sale. None of these is a price a given seller would receive.

Put together, the sold evidence clusters between $925,300 and $1,149,503 and the listing evidence near $1,199,000. The Redfin sold median is 45.3% above the Census median owner value of $791,100, computed here, and the Census figure is owners' own estimates averaged over five years, so it lags. The gap between a sold figure and a listing figure, and between two sold figures, is the first thing an owner should understand before accepting any single number.

Sources as cited. The dates, measures and areas differ and the figures are not directly comparable. Commercial content; not independently verified.

Is Florham Park a seller's market, and how fast do homes sell?

The pages that count sales say yes. Realtor.com shows a median of 19 days on market, unchanged in a year and down 44.12% in three years, and a sale-to-list ratio of 102%. Redfin shows 19 days against 15, 103.7% of list price received and 61.0% of homes sold above list. It scores the area 91 of 100 for competition and says the average home sells for about 3% above list and goes pending in around 21 days. The brokerage update shows an average of 23 days on market for the second quarter, 26% fewer than a year earlier. Those pages give 19, 21 and 23 days.

But the Redfin page also shows cooling. Its sale-to-list ratio is 2.6 points lower than a year earlier, so about 106.3% then, computed here. The share of homes sold above list is down 14.0 points, from about 75.0% to 61.0%. The share with price drops is up 9.7 points, from about 6.1% to 15.8%. Days on market rose by 4. A market can be a seller's market and be less of one than it was, and that is the direction these four figures point. Realtor.com's figure of 43 active listings, up 3.03%, and the brokerage update's 18 homes in inventory, twice a year earlier, point the same way.

The county frames it. Redfin's page for Morris County for the three months ending August 2026 shows a median sale price of $756,468 for all home types, up 9.9%, with 515 homes sold, 19 days on market against 24, 104.4% of list received, 64.0% sold above list and 12.9% with price drops, up 4.2 points (Redfin, Morris County housing market). The Florham Park postal area's median is 52.0% above the county's, computed here. Its price drops are up 9.7 points against the county's 4.2, and its above-list share fell 14.0 points while the county's fell 1.3. The town is cooling faster than the county on these figures, though 42 sales a month is a small base.

What does a seller learn? Fast sales at around list price describe the homes that sold, and the pages say nothing about homes that were priced above the market and withdrew. A rise in price drops from 6.1% to 15.8% suggests more sellers had to cut. A seller should treat 19 to 23 days as a typical figure for homes that sold, not a promise, and ask how many listings in the same price band sold at all.

Rentals are a minor part of the picture. Realtor.com shows 14 rental properties, up 71.43%, and a median rent of $6,050 a month, up 35.96%. That is a sample of 14 homes and the median is 94% above the Census median rent of $3,114 paid by tenants already in place, computed here. The pages do not say what type of homes were listed for rent, and the figure should not be read as the town's typical rent.

What does a town with 24 sales a quarter do to a median?

Small samples move. The brokerage market update shows second-quarter medians of $733,000 in 2022, $908,000 in 2023, $882,000 in 2024, $1,190,000 in 2025 and $930,000 in 2026, on 39, 34, 32, 28 and 24 closings. The 2025 median is 62.3% above the 2022 median, and the 2026 median is 21.8% below the 2025 one, computed here. A town whose median swings that far between quarters has not necessarily lost 22% of its value. It had a different set of sales.

The price bands show why. Of the 24 closings in the second quarter of 2026, 15 were between $500,000 and $1,000,000, 62.5%, five were between $1,000,000 and $2,000,000, 20.8%, and four were above $2,000,000, 16.7%, with none below $500,000. A year earlier 12 closed in the middle band against 15 now, and 12 in the $1,000,000 to $2,000,000 band against 5. Seven fewer sales in one band is enough to pull a median down from $1,190,000 to $930,000.

Counts also conflict across pages. The data page shows 82 homes sold in July 2026 and 92 in August 2025, and 141 transactions in the past year. Redfin shows 42 homes sold in August 2026 and 40 a year earlier for the postal area. The brokerage update shows 24 closings in a whole quarter for the town. Those cannot all be counts of the same area and months, and the pages do not explain the difference. The Redfin count of 42 in one month is 75.0% above the brokerage update's 24 in three, which suggests that the postal area has sales the town figure does not, an inference. The data page also says 70.00% of properties are for sale, while its own counts of 70 for sale among 165 properties are 42.4%.

The averages differ from the medians. The brokerage update shows an average closing price of $1,190,000 for the second quarter of 2026 against a median of $930,000, so the average is 28.0% above the median, computed here. Its second quarter of 2025 average was $1,240,000 against a median of $1,190,000. A town where the average sits so far above the median has a long upper tail, and a handful of sales above $2,000,000 pull the average up while leaving the median alone. That is why one page's average and another's median can both be right.

A seller of a home at $2,500,000 sits in a market where the median is not the guide. The better question is how many sales happened within 10% of a seller's price in the past year, and the pages in this brief do not provide it. The brokerage update shows only that four of the 24 closings in the second quarter were above $2,000,000, the same number as a year earlier, so the top of the market held while the middle band changed. Four sales in a quarter is not a basis for a price, and an owner should ask for the specific sales behind it.

What does the Census say about the homes, the owners and the rents?

The Census postal area that includes Florham Park has 4,998 housing units and 11,977 residents. Of the homes, 2,449 are detached, 49.0%, and 718 are attached, 14.4%. Buildings of two to four units hold 230 homes, 4.6%, and buildings of five or more hold 1,601, 32.0%, made up of 357 in 5 to 9 units, 403 in 10 to 19, 333 in 20 to 49 and 508 in 50 or more. That sums to 4,998, computed here. A town known for large houses has a third of its homes in apartment buildings, which is why a single median across all of it describes few homes.

The year-built chart shows the same thing. The median year built is 1984, and 2,086 homes, 41.7%, were built before 1980. A burst of building since 2010 added 1,011 homes in the 2010s and 350 in 2020 or later, 1,361 in all, 27.2% of the stock. That is more than the 931 built in the 1970s, 1990s and 2000s combined. The recent building is likely apartments, which is an inference from the count of 508 homes in buildings of 50 or more units, and the Census does not link the two.

Owners are 3,201 of 4,608 occupied homes, 69.5%, and renters 1,407, 30.5%. The move-in dates are striking. Of 3,201 owner households, 1,640 moved in during 2010 or later, 51.2%, and 448 in 2020 or later, 14.0%. Only 928 moved in before 2000, 29.0%. Renters are more recent still: 777 of 1,407 moved in during 2020 or later, 55.2%. For an owner these figures say that about half of the town's owners have lived there for 16 years or less.

Incomes and values sit high. The median household income is $156,458 and the median owner value is $791,100, plus or minus $41,853, which is 5.06 times the median income, computed here. The median rent paid is $3,114, which is $37,368 a year or 23.9% of the median income, computed here, though renters' incomes differ from all households' incomes. The Redfin sold median of $1,149,503 is 7.3 times the median household income. The Census values reflect owners who have lived there for years and often bought at lower prices.

Vacancy is 390 homes, 7.8%, of which 120 are for rent, 35 for sale, 115 are seasonal or occasional and 120 are held for other reasons. The 115 seasonal homes are 2.3% of the stock. The 120 homes vacant for rent are 8.5% of the 1,407 rented, computed here, and may include new apartments in lease-up, though the Census does not say. The postal area has 11,977 residents. These cuts describe a postal area, not a street, and a seller's own block may look different. Readers comparing markets can also read the North Wildwood brief and the Scotch Plains brief.

Source: Census Reporter, American Community Survey 2020-2024 five-year estimates, tables B25024, B25034, B25038, B25004, B25077, B25064 and B19013. Percentages and ratios are this brief's arithmetic.

What should an owner ask, and what does a private sale change?

The first question is which median applies to the home. A $2,500,000 estate, a $900,000 colonial and a one-bedroom apartment in a larger building do not share one. A seller should ask for closed sales within a few blocks and a similar size in the past twelve months, with the days to contract, the first ask and the final price, and for the number of homes that were listed and then withdrawn.

The second question is what a figure measures and when. Ask whether it is a sold median, a listing median or a model value, which months it covers and how many sales sit behind it. A seller who reads $1,199,000 as the price will aim well above a sold median near $930,000.

The third question is the cost of selling, and the arithmetic is simple. Each 1% of $930,000 is $9,300. At 3% the figure is $27,900 and at 5% it is $46,500. At $1,149,503, each 1% is $11,495, 3% is $34,485 and 5% is $57,475. At $1,199,000, each 1% is $11,990, 3% is $35,970 and 5% is $59,950. These illustrate the size of each percentage point and are not quotes of any rate a seller would be charged. No page in this brief names a Florham Park commission rate, and the medians are not the price of any one home.

The fourth question is what a listing exposes. At 19 to 23 days, a public listing means weeks of showings and a visible price history, and a buyer's side will bring an inspection and a request for repairs. In a town where 41.7% of homes were built before 1980, that request is reasonable. With price drops rising from 6.1% to 15.8%, a visible price history can also cost a seller leverage. A private sale has no showings and no neighbors talking about a sale.

The benefits are plain. Maison Off-Market buys luxury homes and estates directly from their owners and speaks only to sellers. A private sale has no showings. It allows closing dates that give a seller time to find a new home. It has no commission costs and no closing costs, and it avoids inspection repairs. The company does not say that a private sale always beats a public listing, and in a town where one page shows $930,000 and another $1,149,503, an owner is right to ask what each route yields. If you would like a private, no-obligation offer for a Florham Park home, call 401-219-4207 or use the contact form on this site.

Methodology and limitations

Each page's date, title and place were read before use. Only established data publishers, a brokerage market update and the Census are cited. The sold pages measure different months, home types and areas and were not merged. The data page's sold counts and its share of properties for sale do not agree with its own totals. The Redfin postal-area page may cover more than the town. The Census figures are five-year estimates for a postal area. Percent changes were taken as printed, and ratios, sums and year-earlier values are this brief's arithmetic.

Conclusion

The Florham Park record shows sold medians between $925,300 and $1,149,503, a listing median near $1,199,000, drops of 22%, 24.24% and 2.2% that cannot all describe one sample, 24 closings in the second quarter of 2026 and a postal area where a third of homes sit in buildings of five or more units. The useful number for an owner is a closed sale of a similar home nearby, not a town median.