In our office we confer at the beginning of each week to find out how activity went the past weekend. It's good to know how the wind blows ... right? Our agents have been experiencing a lot of buyer activity ... many serious buyers coming through open houses, offers are being made and accepted.
There were 27 closings in the Chathams in January 2007, so far this January there have been 13 already! The average sales price for these sales in 2007 was $842,611, in 2008 the average so far is $904,438. This is a bit of a mixed bag for now. Although the number of buyers are increasing weekly.
I'll be keeping an eye on the market and offering updates here. Don't feel shy about commenting ... just click below and type away!
Wednesday, January 30, 2008
Monday, January 28, 2008
Hi,
Do scroll down to check out the stats for other NJ towns and feel free to post a comment or question!
MAPLEWOOD, NJ Real Estate Sales
Maplewood, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 342 ...... 294
Average sales price .... $545,461 ...... $537,551
Median sales price .... $495,000 ...... $525,000
Average sales to list price .... 99% ...... 99%
Average days on the market .... 56 ...... 51
Highest sales price .... $1,900,000 (15-19 Tower Dr) ...... $1,800,000 (616 So Orange Ave, 5C)
Number of homes sold over $1 million .... 11 ...... 7
Make it a great day!
Do scroll down to check out the stats for other NJ towns and feel free to post a comment or question!
MAPLEWOOD, NJ Real Estate Sales
Maplewood, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 342 ...... 294
Average sales price .... $545,461 ...... $537,551
Median sales price .... $495,000 ...... $525,000
Average sales to list price .... 99% ...... 99%
Average days on the market .... 56 ...... 51
Highest sales price .... $1,900,000 (15-19 Tower Dr) ...... $1,800,000 (616 So Orange Ave, 5C)
Number of homes sold over $1 million .... 11 ...... 7
Make it a great day!
Sunday, January 27, 2008
Scroll down if you want this data for other New Jersey towns.
If you like this information or have a comment or request, please post a comment. It's easy and fun!
Summit, NJ Real Estate Sales
Summit, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 274 ...... 290
Average sales price .... $1,017,629 ...... $1,131,531
Median sales price .... $820,000 ...... $890,000
Average sales to list price .... 101% ...... 98%
Average days on the market .... 51 ...... 59
Highest sales price .... $3,800,000 (80 Whittredge) ...... $6,100,000 (24 Fernwood)
Number of homes sold over $1 million .... 95 ...... 125
Number of homes sold over $2 million .... 23 ...... 32
Number of homes sold over $3 million .... 6 ...... 9
Summit, NJ also has top-notch schools, a very favorable commute to NYC with express MidtownDirect trains, significant resources for families and a delightful downtown with casual and fine restaurants and shops. These are things people value and will pay for.
Feel free to post your comments!
If you like this information or have a comment or request, please post a comment. It's easy and fun!
Summit, NJ Real Estate Sales
Summit, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 274 ...... 290
Average sales price .... $1,017,629 ...... $1,131,531
Median sales price .... $820,000 ...... $890,000
Average sales to list price .... 101% ...... 98%
Average days on the market .... 51 ...... 59
Highest sales price .... $3,800,000 (80 Whittredge) ...... $6,100,000 (24 Fernwood)
Number of homes sold over $1 million .... 95 ...... 125
Number of homes sold over $2 million .... 23 ...... 32
Number of homes sold over $3 million .... 6 ...... 9
Summit, NJ also has top-notch schools, a very favorable commute to NYC with express MidtownDirect trains, significant resources for families and a delightful downtown with casual and fine restaurants and shops. These are things people value and will pay for.
Feel free to post your comments!
Friday, January 18, 2008
Hello,
Today the 2006 vs 2007 sales data is for Millburn/Short Hills, NJ. Scroll down if you want this data for other New Jersey towns, or email me to comment to request data for your town (NJ only).
Millburn and Short Hills, NJ Real Estate Sales
Millburn & Short Hills, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 286 ...... 305
Average sales price .... $1,280,768 ...... $1,296,641
Median sales price .... $1,035,000 ...... $1,080,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 61 ...... 62
Highest sales price .... $5,940,000 (44 Montview) ...... $5,600,000 (180 Highland)
Number of homes sold over $1 million .... 139 ...... 158
Number of homes sold over $2 million .... 34 ...... 50
Number of homes sold over $3 million .... 15 ...... 14
Number of homes sold over $4 million .... 5 ...... 7
The luxury home market in New Jersey, especially in Short Hills is healthy. These are strong numbers indicating that affluent buyers who desire a special community, close in to New York City, are still buying. Don't let anyone tell you the market is dead, at least not everywhere.
I'll be hosting our first ever Home Buyer Seminar tomorrow. There is still space so if you'd like to attend call me at 201-960-2090 or email Trish@BestNJhomes.com. Enjoy your weekend!
Today the 2006 vs 2007 sales data is for Millburn/Short Hills, NJ. Scroll down if you want this data for other New Jersey towns, or email me to comment to request data for your town (NJ only).
Millburn and Short Hills, NJ Real Estate Sales
Millburn & Short Hills, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 286 ...... 305
Average sales price .... $1,280,768 ...... $1,296,641
Median sales price .... $1,035,000 ...... $1,080,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 61 ...... 62
Highest sales price .... $5,940,000 (44 Montview) ...... $5,600,000 (180 Highland)
Number of homes sold over $1 million .... 139 ...... 158
Number of homes sold over $2 million .... 34 ...... 50
Number of homes sold over $3 million .... 15 ...... 14
Number of homes sold over $4 million .... 5 ...... 7
The luxury home market in New Jersey, especially in Short Hills is healthy. These are strong numbers indicating that affluent buyers who desire a special community, close in to New York City, are still buying. Don't let anyone tell you the market is dead, at least not everywhere.
I'll be hosting our first ever Home Buyer Seminar tomorrow. There is still space so if you'd like to attend call me at 201-960-2090 or email Trish@BestNJhomes.com. Enjoy your weekend!
Wednesday, January 16, 2008
Morris Township & Convent Station, NJ Real Estate Sales
Morris Twp and Convent Station, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 334 ...... 315
Average sales price .... $647,121 ...... $647,316
Median sales price .... $625,000 ......$560,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 65 ...... 70
Highest sales price .... $1,900,000 ...... $1,932,000
Number of homes sold over $1 million .... 27 ...... 38
Although there are some slight variations from year to year, basically the real estate market for Morris Twp, NJ remains strong. This information also shows, in my opinion, that the market for luxury homes is quite strong. The real estate for sale signs you see lingering out there, are of sellers who are too optimistic about the value of their homes. Prices are stagnant and buyers have lots to choose from. Well-priced properties in good condition still command a strong sales price.
Morris Twp and Convent Station, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 334 ...... 315
Average sales price .... $647,121 ...... $647,316
Median sales price .... $625,000 ......$560,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 65 ...... 70
Highest sales price .... $1,900,000 ...... $1,932,000
Number of homes sold over $1 million .... 27 ...... 38
Although there are some slight variations from year to year, basically the real estate market for Morris Twp, NJ remains strong. This information also shows, in my opinion, that the market for luxury homes is quite strong. The real estate for sale signs you see lingering out there, are of sellers who are too optimistic about the value of their homes. Prices are stagnant and buyers have lots to choose from. Well-priced properties in good condition still command a strong sales price.
Ok, here are the statistics for 2006 vs 2007 home sales in Morristown, NJ
Morristown, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 171 ...... 171
Average sales price .... $463,175 ...... $458,221
Median sales price .... $430,000 ......$429,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 75 ...... 74
Highest sales price .... $1,850,000 ...... $1,600,000
Number of homes sold over $1 million .... 4 ...... 5
Home prices in Morristown, NJ seem to be holding their own. As you can see the number of sales has been stable, with average sales price slipping a mere 1%. The real estate for sale signs you see lingering out there, are of sellers who are too optimistic about the value of their homes. Prices are stagnant and buyers have lots to choose from. Well-priced properties in good condition still command a strong sales price.
All sales data and statistics shared in this blog is obtained from the Garden State Multiple Listing Service (GSMLS) and is deemed reliable, but not guaranteed. Subject to errors and omissions. The commentaries are my professional interpretation of the market, not only the statistics but the sentiment of buyers and sellers I work with every day.
Visit http://www.bestnjhomes.com to search MLS listings for yourself.
Morristown, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 171 ...... 171
Average sales price .... $463,175 ...... $458,221
Median sales price .... $430,000 ......$429,000
Average sales to list price .... 97% ...... 97%
Average days on the market .... 75 ...... 74
Highest sales price .... $1,850,000 ...... $1,600,000
Number of homes sold over $1 million .... 4 ...... 5
Home prices in Morristown, NJ seem to be holding their own. As you can see the number of sales has been stable, with average sales price slipping a mere 1%. The real estate for sale signs you see lingering out there, are of sellers who are too optimistic about the value of their homes. Prices are stagnant and buyers have lots to choose from. Well-priced properties in good condition still command a strong sales price.
All sales data and statistics shared in this blog is obtained from the Garden State Multiple Listing Service (GSMLS) and is deemed reliable, but not guaranteed. Subject to errors and omissions. The commentaries are my professional interpretation of the market, not only the statistics but the sentiment of buyers and sellers I work with every day.
Visit http://www.bestnjhomes.com to search MLS listings for yourself.
Thursday, January 10, 2008
If you're a homeowner or homeowner-to-be in Madison, NJ, the following sales data for 2007 is very encouraging.
Madison, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 182 ...... 174
Average sales price .... $802,083 ...... $792,732
Average sales to list price .... 97% ...... 97%
Average days on the market .... 59 ...... 62
Highest sales price .... $2,600,000 ...... $5,100,000
Number of homes sold over $1 million .... 40 ...... 32
Number of homes sold over $2 million .... 5 ...... 7
As you can see, Madison NJ is still enjoying a strong real estate market, no doubt thanks to a wonderful school system, beautiful village with many diverse restaurants and shops, and lovely homes on tree-lined streets. Visit http://www.bestnjhomes.com/custom3.shtml for cool links on things to see and do in Madison.
Madison, NJ .... 2006 ...vs... 2007
Number of homes/condos sold .... 182 ...... 174
Average sales price .... $802,083 ...... $792,732
Average sales to list price .... 97% ...... 97%
Average days on the market .... 59 ...... 62
Highest sales price .... $2,600,000 ...... $5,100,000
Number of homes sold over $1 million .... 40 ...... 32
Number of homes sold over $2 million .... 5 ...... 7
As you can see, Madison NJ is still enjoying a strong real estate market, no doubt thanks to a wonderful school system, beautiful village with many diverse restaurants and shops, and lovely homes on tree-lined streets. Visit http://www.bestnjhomes.com/custom3.shtml for cool links on things to see and do in Madison.
Tuesday, January 8, 2008
Since nearly everyone is asking me about the state of our real estate market, I have decided to bring some of those statistics out so you can all review at your leisure. Twice each week I will post End of Year Sales Numbers for one or two communities.
Today it is Chatham, NJ. There is Chatham Boro and Chatham Twp, and I will give each town separately here.
Chatham Boro, NJ .... 2006 ...... 2007
Number of homes/condos sold .... 145 ...... 131
Average sales price .... $804,792 ...... $739,579
Average sales to list price .... 98% ...... 97%
Average days on the market .... 45 ...... 60
Highest sales price .... $2,475,000 ...... $2,500,000
Number of homes sold over $1 million .... 29 ...... 14
Number of homes sold over $2 million .... 2 ...... 3
Chatham Township, NJ .... 2006 ...... 2007
Number of homes/condos sold .... 163 ...... 165
Average sales price .... $935,918 ...... $1,048,463
Average sales to list price .... 98% ...... 97%
Average days on the market .... 53 ...... 73
Highest sales price .... $6,400,000 ...... $3,850,000
Number of homes sold over $1 million .... 52 ...... 78
Number of homes sold over $2 million .... 9 ...... 12
As you can see, the market in the Chathams remains healthy. The new construction boom has helped bring average prices up and will likely continue, albeit at a slower pace. Homes in good condition, with updates and upgrades, in good locations will continue to sell well and fairly quickly. The "slowdown" is being seen only in properties that are not in up-to-date condition or not priced accordingly.
If there's a town you'd like to see these stats for, please post your request. Feel free to post any questions, comments or feedback as well. Be well! :-)
Today it is Chatham, NJ. There is Chatham Boro and Chatham Twp, and I will give each town separately here.
Chatham Boro, NJ .... 2006 ...... 2007
Number of homes/condos sold .... 145 ...... 131
Average sales price .... $804,792 ...... $739,579
Average sales to list price .... 98% ...... 97%
Average days on the market .... 45 ...... 60
Highest sales price .... $2,475,000 ...... $2,500,000
Number of homes sold over $1 million .... 29 ...... 14
Number of homes sold over $2 million .... 2 ...... 3
Chatham Township, NJ .... 2006 ...... 2007
Number of homes/condos sold .... 163 ...... 165
Average sales price .... $935,918 ...... $1,048,463
Average sales to list price .... 98% ...... 97%
Average days on the market .... 53 ...... 73
Highest sales price .... $6,400,000 ...... $3,850,000
Number of homes sold over $1 million .... 52 ...... 78
Number of homes sold over $2 million .... 9 ...... 12
As you can see, the market in the Chathams remains healthy. The new construction boom has helped bring average prices up and will likely continue, albeit at a slower pace. Homes in good condition, with updates and upgrades, in good locations will continue to sell well and fairly quickly. The "slowdown" is being seen only in properties that are not in up-to-date condition or not priced accordingly.
If there's a town you'd like to see these stats for, please post your request. Feel free to post any questions, comments or feedback as well. Be well! :-)
Monday, January 7, 2008
Happy New Year to you! I'm not big on new year resolutions yet something gives me new enthusiasm and energy every January. Maybe it's the chance to start fresh, do something new. And, so here I am, staging our first Home Buyer Seminar ever!
After selling homes for 20 years I feel that I have learned enough about how people go through this process to help make it easier. There was an old commercial "an educated consumer is our best customer"! Getting some education is the best way to go about anything, so here it is.
There are two dates offered. Please choose one and RSVP quickly as space is limited:
WHEN: Tuesday, January 15, 2008 from 7pm to 8:45pm
or Saturday, January 19, 2008 from 10am to 11:45am
Bring your questions as there will be ample time to get them answered. This event is free.
LOCATION: The offices of SSCE&K at 44 Whippany Road, Ste 210, Morristown NJ 07962
RSVP: 888-389-9878 ext 139 or BuyYourDreamHome@gmail.com
The team includes myself (visit www.BestNJhomes.com to learn more about me); Matthew Kane, attorney specializing in real estate with the fine firm of Schwartz Simon Edelstein Celso & Kessler (hereinafter referred to as SSEC&K). Matt has worked with buyers on the legal side for years and will be ready to discuss all the finer legal issues that may arise and how to best protect yourself in your home purchase. The final member of this team is Alex Giassa, Personal Mortgage Consultant with First Interstate Financial. Alex has extensive experience helping buyers find competitive mortgage financing for their homes.
We hope you will be able to attend. If you already own a home, tell someone you know who does not yet. Be well :-)
PS: If you'd like FREE MLS access, go to http://www.bestnjhomes.com/Chatham_NJ_homes_for_sale.shtml and sign in to receive listings by email per your parameters.
After selling homes for 20 years I feel that I have learned enough about how people go through this process to help make it easier. There was an old commercial "an educated consumer is our best customer"! Getting some education is the best way to go about anything, so here it is.
There are two dates offered. Please choose one and RSVP quickly as space is limited:
WHEN: Tuesday, January 15, 2008 from 7pm to 8:45pm
or Saturday, January 19, 2008 from 10am to 11:45am
Bring your questions as there will be ample time to get them answered. This event is free.
LOCATION: The offices of SSCE&K at 44 Whippany Road, Ste 210, Morristown NJ 07962
RSVP: 888-389-9878 ext 139 or BuyYourDreamHome@gmail.com
The team includes myself (visit www.BestNJhomes.com to learn more about me); Matthew Kane, attorney specializing in real estate with the fine firm of Schwartz Simon Edelstein Celso & Kessler (hereinafter referred to as SSEC&K). Matt has worked with buyers on the legal side for years and will be ready to discuss all the finer legal issues that may arise and how to best protect yourself in your home purchase. The final member of this team is Alex Giassa, Personal Mortgage Consultant with First Interstate Financial. Alex has extensive experience helping buyers find competitive mortgage financing for their homes.
We hope you will be able to attend. If you already own a home, tell someone you know who does not yet. Be well :-)
PS: If you'd like FREE MLS access, go to http://www.bestnjhomes.com/Chatham_NJ_homes_for_sale.shtml and sign in to receive listings by email per your parameters.
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