The Morris County market
In Morris the value gradient follows the rail line and the lot, not the map.
A walk to a Midtown Direct station will move a number further than a bedroom will, and the effect fades quickly with distance. Morristown, Madison, Chatham and Summit-adjacent Chatham Borough price on that access; townships four miles out price on land.
Westward the county becomes large-lot housing in Harding, Mendham and Washington Township, where the site carries more of the value and the analysis separates land from improvements more explicitly than it would on a quarter acre. Comparable sales come from a wider geography and there are fewer of them.
Lake communities appear throughout. Where a membership transfers with the property and buyers demonstrably pay for it, it is credited; where it does not transfer, it is reported and left alone.
For lending work the county’s variety is the risk. A report that averages across it will be wrong in both directions at once.
Municipalities served in Morris County
Morristown · Dover · Madison · Chatham · Florham Park · Summit · Bernardsville · Mendham · Chester · Long Hill · Harding · Morris Plains · Wharton · Rockaway · Denville · Mountain Lakes · Boonton · Butler · Kinnelon · Lincoln Park · Montville · Parsippany-Troy Hills · Randolph · Roxbury · Washington Township · Mine Hill · Victory Gardens · Netcong · Mount Arlington · Hopatcong · Stanhope