Ryan Damiano, Front Door Photography
A modest home in the Butterworth Farms neighborhood of Morris Township, New Jersey turned heads this month when it sold for an eye-popping $255,000 above the asking price, marking a staggering 26% jump.
Listed for $995,000, the four-bedroom, four-bathroom Colonial ultimately closed at $1.25 million, shattering expectations.
“The interest was through the roof,” Lisa Molinari of Weichert, Realtors – Morristown East, who handled the sale, told NJ.com.
The buzz began almost immediately.
Within two days of listing, 41 private showings had already been scheduled. By the end of the weekend, the home had drawn 80 groups through its three-day open house, leading to 10 competitive offers in just under a week.
It “speaks volumes,” Molinari told The Post, referencing the quick turnaround and overwhelming buyer demand.
So what made this home, which occupies a little over 3,500 square feet so desirable? The property at 2 Fieldstone Drive boasts a combination of factors that modern buyers are clamoring for.
“First, location,” Molinari said. “The Butterworth Farms neighborhood is located just under 5 miles (under 10 minutes by car) from Downtown Morristown — a town that consistently makes top rankings of great places to live. The whole area is quite special, offering plenty of things to do for all lifestyles. It’s also a great transit town.”
But the appeal runs deeper than just convenience.
“Butterworth Farms is just a really sweet neighborhood where people know each other, socialize with each other and become part of each other’s lives,” Molinari added.
The sellers purchased the home back in 2011 as an estate sale and spent the following years completely renovating and expanding its footprint, giving it a modern farmhouse style with updated amenities.
Highlights include an open-concept kitchen with quartz countertops, and Wolf appliances.
One bedroom is on the first floor with the other three bedrooms situated on the second level. The primary suite features an ensuite bathroom with a walk-in closet.
Beyond its charm and upgrades, the home hit the market at a time marked by high competition and low inventory, with sellers holding onto their homes — and their low mortgage rates — for longer.
“While homes in the Morristown area are consistently in high demand, the sheer number of people who want to live here coupled with the lack of homes to sell have been keeping upward pressure on home prices,” Molinari said. Of the 10 offers Molinari received, nine buyers still remain on the hunt.
“If you think about the fact that there are nine really serious homebuyers still out there, ones who put together stellar offers, who did not get 2 Fieldstone, you know they will be in competition for the next similar home,” Molinari explained.
The $1.25 million deal now stands as the second-highest sale ever recorded in Butterworth Farms, according to Molinari.
“We discussed the pricing strategy in great detail prior to listing the home … It was priced fairly — the market took over and took it to new levels,” Molinari said.