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modest Colonial-style home in Morris Township's Butterworth Farms neighborhood has made headlines after selling for a staggering $255,000 above its asking price, marking a 26% jump. The four-bedroom, four-bathroom property listed for $995,000 and ultimately closed at $1.25 million.

    The interest in the home was overwhelming, with 41 private showings scheduled within two days of listing and 80 groups attending its three-day open house. This led to 10 competitive offers in just under a week, with nine buyers still on the hunt for their dream home.

    So what made this unassuming New Jersey home so desirable? According to Lisa Molinari of Weichert, Realtors – Morristown East, who handled the sale, it's the perfect combination of factors that modern buyers are clamoring for. "First and foremost, location," she said. The neighborhood is just under 5 miles from Downtown Morristown, a town consistently ranked as one of the best places to live.

    Butterworth Farms itself is a special community where people know each other, socialize, and become part of each other's lives. The sellers purchased the home in 2011 and spent years renovating and expanding it, giving it a modern farmhouse style with updated amenities like an open-concept kitchen with quartz countertops and Wolf appliances.

    The property hit the market at a time marked by high competition and low inventory, with sellers holding onto their homes 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.

    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."