UPDATE: A stunning single-family residence at 2 Eastmans Road in Parsippany has just sold for an eye-popping $7.3 million, making it the most expensive residential sale in the Parsippany-Troy Hills area over the past week. Between November 10 and 16, 2023, a total of 13 properties changed hands, with the average sale price reaching $3.6 million.
The surge in high-value real estate transactions highlights a vibrant market in this New Jersey region. The recent sales indicate a growing demand for luxury homes, underscoring the appeal of Parsippany-Troy Hills as a sought-after destination for affluent buyers.
The following properties were among the most notable transactions:
10. $299,000 – A single-family home at 2467 State Route 10 BLDG30-6B in Morris Plains, finalized on October 28. This 1,021-square-foot home was built in 1960, selling for $293 per square foot.
9. $410,000 – A detached residence at 56 Calumet Ave. in Lake Hiawatha, sold on October 28. The property, built in 1940, features a classic design and a competitive market price.
8. $465,000 – Located at 16 Caldwell Road in Parsippany, this 1,254-square-foot home was finalized on October 27, indicating a strong interest in family residences.
7. $500,000 – A detached house at 25 Carlson Place in Lake Hiawatha, finalized on October 28. The 1,424-square-foot property demonstrates the area’s growing market for single-family homes.
6. $550,000 – The single-family house at 65 Preston Road in Parsippany sold for $521 per square foot and was finalized on October 28.
5. $690,000 – A significant sale at 28 Liberty Court in Parsippany for a home built in 1949, finalized on October 30, reflecting continued buyer interest.
4. $849,000 – The residence at 113 Glenbrook Road in Morris Plains was sold for $375 per square foot on October 28.
3. $850,000 – Another notable sale occurred at 303 Mountain Way in Morris Plains, finalized on October 27.
2. $1.1 million – The property at 4 Shelter Cove Road sold for $1,090,000 on October 29, reflecting the high demand for spacious living.
The luxury market’s activity, particularly the sale of the $7.3 million home, illustrates a robust trend in the Parsippany-Troy Hills area. With its prime location and appealing community features, the region continues to attract wealthy buyers looking for upscale residences.
The implications of these transactions are significant for local real estate trends and community development. As more high-value homes enter the market, the potential for increased property values remains high, further establishing Parsippany-Troy Hills as a premier location for luxury living.
Stay tuned for more real estate updates as the market evolves and more properties are sold in this dynamic area.