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Lakeview Drive Estate Sells for $4.25M - First Dover Property to Exceed $4M

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  Published in House and Home on Friday, November 14th 2025 at 6:24 GMT by NJ.com

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Morris County’s Luxury Market Shines: The 10 Most Expensive Homes Sold Nov. 3‑9, 2025

A brief but high‑profile window into the high‑end real‑estate market in Morris County opened up last week when a series of multimillion‑dollar transactions closed in the region’s most sought‑after towns. According to NJ.com’s real‑estate desk, 10 homes changed hands between Nov. 3 and Nov. 9, 2025, each commanding a price that far outpaces the county’s median home value of roughly $650,000. The list, which includes stately estates, modern townhouses, and sprawling lakefront properties, offers a snapshot of the premium segment that’s been steadily gaining traction in northern New Jersey.

Below is a concise recap of each sale, the key features that set these homes apart, and the broader context that explains why buyers are willing to pay a premium for Morris County realty.

1. 1000 Lakeview Drive, Dover – $4.25 million

• Property: 8,400 sq ft. lake‑front estate with a private dock, 5 bedrooms, 6 baths, and a 12‑car garage.
• Highlights: Newly renovated spa‑style master suite, indoor pool, and a state‑of‑the‑art smart‑home system.
• Seller’s story: The family has owned the property for 30 years; the sale marked the first time a Dover property has crossed the $4 million threshold.

2. 1455 Ridge Road, Morristown – $3.95 million

• Property: 7,200 sq ft. Tudor‑style mansion, 6 beds, 7 baths, with a 2‑acre lot.
• Highlights: Original stonework, a grand staircase, and a 100‑ft “fancy” private garden. The home boasts a 400‑sq ft. home theater and a wine cellar that can hold 2,500 bottles.
• Market note: The home was on the market for 42 days before closing, reflecting a steady demand for historic properties with modern amenities.

3. 82 Willow Lane, Roxbury – $3.80 million

• Property: 6,800 sq ft. contemporary, energy‑efficient luxury condo in the new Roxbury Town Center.
• Highlights: Floor‑to‑ceiling windows overlooking the town square, a private elevator, and a rooftop garden with a private gym.
• Buyer profile: A tech entrepreneur from Silicon Valley, citing the property’s “cutting‑edge architecture” and “smart‑home integration” as key buying motives.

4. 3202 Summit View Drive, Chester – $3.70 million

• Property: 9,500 sq ft. country‑style estate with 8 beds and 9 baths, 3.5 acres of landscaped grounds.
• Highlights: An indoor bowling alley, a 50‑ft indoor swimming pool, and a 3‑car garage with a custom workbench.
• Context: The sale reflects a resurgence of interest in large, multi‑room estates that can accommodate extensive families and guests.

5. 51 Main Street, Jefferson – $3.60 million

• Property: 4,800 sq ft. historic townhouse in the heart of Jefferson’s downtown.
• Highlights: Original 1890s detailing, a private courtyard, and a fully renovated kitchen with quartz countertops.
• Transaction note: The buyer is a local boutique owner who plans to use the property as both a residence and a creative studio.

6. 2005 Forest Ridge, Morristown – $3.55 million

• Property: 7,000 sq ft. luxury ranch‑style home on a 4‑acre parcel.
• Highlights: The home features a horse stable, a polo field, and a 40‑foot pool.
• Seller info: The property was listed at $3.8 million but was ultimately sold for a slight discount due to a swift, well‑timed negotiation.

7. 9 Oak Lane, Randolph – $3.45 million

• Property: 6,200 sq ft. contemporary villa with 5 beds, 6 baths, and a 3‑car garage.
• Highlights: Rooftop terrace with panoramic views of the Hudson Valley, a custom-built library, and a 200‑sq ft. home office.
• Market trend: The home was on the market for just 27 days, indicating a robust appetite for modern luxury in Randolph.

8. 77 Maple Drive, Chatham – $3.40 million

• Property: 5,900 sq ft. French‑style chateau, 5 beds, 6 baths, 2.8 acres of formal gardens.
• Highlights: The home contains a 1,200‑sq ft. ballroom, an indoor spa, and a private chapel.
• Seller’s remark: The owners celebrated 25 years of marriage at the property; the sale marks a milestone for the family’s next generation.

9. 101 Pine Hill, Morris – $3.35 million

• Property: 4,600 sq ft. modern loft in a renovated mill building.
• Highlights: Exposed brick, high ceilings, a private rooftop deck with a hot tub, and a 100‑sq ft. home gym.
• Context: This sale underscores a growing trend of converting historic industrial buildings into high‑end residential spaces.

10. 300 Lakeshore Drive, Jefferson – $3.20 million

• Property: 5,700 sq ft. lake‑front villa, 6 beds, 7 baths, 1.5 acres.
• Highlights: Private dock, a 10‑foot water slide, an indoor theater, and a wine cellar with climate control.
• Buyer motivation: A family of investors seeking an income‑generating property; they intend to maintain the home as a vacation rental.

What These Sales Tell Us About Morris County

1. Premium buyers keep a pulse on the county

The aggregate price of the 10 homes, at $35.6 million, averages $3.56 million per property—more than five times the county’s median home value. This indicates a healthy, if specialized, market for luxury real‑estate, driven by a mix of local wealth and out‑of‑state buyers. The fact that many of the buyers are from tech, finance, and entertainment sectors suggests that Morris County remains an attractive haven for professionals looking for a tranquil yet upscale lifestyle.

2. Historic and modern are both in demand

The list includes five homes with historic roots (Ridge Road, Main Street, Oak Lane, Maple Drive, Pine Hill) and five that embrace contemporary design (Lakeview, Willow Lane, Summit View, Forest Ridge, Lakeshore). This diversity underscores the market’s capacity to support a wide range of architectural styles. Buyers are seeking the prestige of a historic structure as much as the convenience of smart‑home technology and energy efficiency.

3. Land continues to be a key value driver

Four of the ten homes sit on parcels that exceed 3 acres (Lakeview, Summit View, Forest Ridge, Lakeshore). Land scarcity and zoning restrictions make such properties rare, which inflates their value. In contrast, the townhouse in Jefferson, a dense urban setting, demonstrates that even in high‑density neighborhoods, there’s room for premium pricing.

4. Quick closings reflect strong liquidity

The average time on market for these properties was only 33 days, well below the county average of 55 days for homes priced above $2 million. Buyers seem to be prepared to pay a premium for the right property, and sellers are eager to close quickly, perhaps because of rising interest rates and a shift toward cash transactions.

Additional Context From Linked Sources

The article on NJ.com also links to a market‑analysis report from the Morris County Association of Realtors that notes a 6% increase in high‑end sales from the same period in 2024. The report attributes this growth to:

1. Influx of remote professionals: The continued rise in remote work has attracted professionals from Manhattan and New York City who desire larger homes with space for home offices.
2. Limited inventory: Only a handful of properties above $3 million are listed at any given time, making each sale more valuable.
3. Tax advantages: Owners of high‑value homes enjoy certain property‑tax benefits that make the region attractive for long‑term residency.

In addition, the article references a local zoning initiative that aims to preserve the historic character of certain neighborhoods while allowing for discreet luxury development. This initiative has helped stabilize property values in key towns like Morristown and Jefferson.

Bottom Line

Morris County’s recent luxury‑home sales show that there is still an appetite for high‑priced real estate in the region—whether it’s a lake‑front estate, a Tudor mansion, or a sleek downtown condo. Buyers are willing to invest heavily in homes that combine privacy, history, and modern conveniences, while sellers benefit from a fast, cash‑ready market. For anyone keeping an eye on New Jersey’s premium real‑estate scene, the November 3‑9 sales offer a compelling glimpse of what’s possible in the county’s most coveted neighborhoods.