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Clark Real Estate Market Update – July 2014

Before you buy or sell a home in Clark, you need to understand the market conditions. Here’s what you need to know this month:

Inventory: There are currently 88 homes on the market in Clark ranging in price from $187,000 to $1,100,000 – definitely something for everyone in this market! Nine homes were sold in June which is very low for June.

Prices: The average and mean sales in June were 38% higher than the 12 month sales average and 30% higher than May. One or two high end sales can create this anomaly so it probably doesn’t have any significance in terms of the summer real estate market. While summer prices typically increase due to supply and demand, July’s numbers should give us a better indication of where the market is heading.

Days on Market: The average sold home in Clark in June was sold after 48 days on the market – a bit slower than the previous several months, but certainly not a slow market!

What this means to you?

Since only 9 homes were sold in June, the inventory will continue to increase. Buyers will find that they have a great selection of homes to choose from and sellers will find that their homes need to be in tip-top showing condition in order to sell.

clarkjune

For more information on selling a home:

For more information on Clark and Clark Real Estate:

Do you want to buy or sell in Clark?

If you’re thinking of buying or selling a home in Clark, please check out our latest market report.

Here are the highlights:

  • Inventory is up.
  • Prices are up.
  • Homes are selling quickly.

How does this affect you?

  • Buyers have a pretty good selection to choose from, but the well priced homes that are in good condition are selling fast. If you fall in love, act fast!
  • Sellers need to price competitively and make sure that their homes are in great showing condition.

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What’s Up in Clark’s Real Estate Market?

Inventory:

There are currenly 67 homes offered for sale in Clark, slightly under the average for the past 12 months and 18 lower than April of 2013. Eight homes were sold in April, much fewer than last spring but showing a slow increase over the last few months.

Prices:

Average sale price April 2014 – $342,875

Average sale price April 2013 – $476,827

Average sale price March 2014 – $399,600

clark domTime to sell your home:

Homes are flying off the proverbial shelf in Clark this spring! The average home that sold in April was sold after only 25 days on the market – faster than any times since April of 2013 (24 days).  This is among the fastest turnarounds in Union County.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

Clark Real Estate Market Update

clark inventory

Prices: The average sale price of a home in Clark in March, 2014, was $399,600 which is about 14% higher than March of 2012.

clark prices

Inventory: There are currently 58 single family homes offered for sale in Clark at an average list price of $452,728.  Five homes were sold in March of 2014, only half of that sold in March of 2013.

If you’re thinking about selling your Clark home, get a free Comparative Market Analysis here.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

Clark Real Estate Market Report

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Inventory is way down in the Clark real estate market with only 33 homes actively listed today

 

 

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Prices in Clark continue to rise. The average home that sold in Clark in February was sold for $410,667 – nearly 21% more than the average home sold in February 2012

 

 

 

If you’re thinking about selling your Clark home, get a free Comparative Market Analysis here.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

How do you get a CCO in Clark?

A CCO, or Certificate of Continued Occupancy, is required in many areas of New Jersey and elsewhere before the title of any real property can be exchanged. When you sell your home, it’s important to know what your town requires for a CCO. 

To obtain a CCO in Clark, you’ll need to fill out the application which can be found here. If you are selling your home with the assistance of a full service Realtor, he or she will likely file this for you, but if you are selling FSBO, then you’ll need to do this yourself. 

Once the application and fee are received, the Construction Department will schedule an inspection of your home.

These are the most common reasons for failing the CCO Inspection:

  1. Open permits must be closed out before the CCO inspection. 
  2. The blow off valve on your hot water heater must be at least 6 inches off the floor.
  3. The electrical service in the home must be at least 100 amps.
  4. All outlets in the bathrooms and within six feet of the kitchen sink must be GFI (Ground Fault Interrupter) protected.
  5. If there is a sump pump, it must not discharge through the sewer.
  6. There can be no cracked or broken windows.
  7. All staircases 36 inches or higher must have railings.
  8. The outlet for your laundry appliances must be GFI protected and be installed within six feet of the appliance.
  9. There can be no extension cords in the property.
  10. Asbestos must be removed or encapsulated if it is deteriorating.

The fee is $75 in Clark. Checks should be made payable to the Township of Clark. The certificate is good for 180 days from the date of issuance.

Clark also requires a Smoke Detector/Carbon Monoxide Certificate prior to the transfer of title. The cost for the certificate is $50, made payable to the Township of Clark. The application can be found here.

All Clark homes are required to have a smoke detector on each level and one outside of each bedroom.

In Clark homes built before 1984, individual battery operated detectors are acceptable. In homes built between 1984 and 1990 the detectors must be interconnected so that if one goes off, it activates all of the others. In homes built after 1990, the detectors must be interconnected and must have battery backup.

Carbon monoxide detectors, UL-2304, must be installed in the immediate vicinity of each bedroom.

Your home will not be issued a Smoke Detector/Carbon Monoxide Certificate if a key is required to exit the home from any door.

You also must have a minimum 5 pound ABC dry chemical fire extinguisher in the kitchen area.

Homes must be numbered to be issued a Smoke Detector/Carbon Monoxide Certificate in Clark.

The form for the CCo and the form for the Smoke Detector/Carbon Monoxide Certificate, along with the appropriate fees, should be submitted to the Clark Construction Office at least 2 weeks before your anticipated closing date to allow time for an inspection of the home and for filing of the certificates.

 

 

How do I obtain a CCO in Clark?

A CCO, or Certificate of Continued Occupancy, is required in many areas of New Jersey and elsewhere before the title of any real property can be exchanged. When you sell your home, it’s important to know what your town requires for a CCO. 

To obtain a CCO in Clark, you’ll need to fill out the application which can be found here. If you are selling your home with the assistance of a full service Realtor, he or she will likely file this for you, but if you are selling FSBO, then you’ll need to do this yourself. 

Once the application and fee are received, the Construction Department will schedule an inspection of your home.

These are the most common reasons for failing the CCO Inspection:

  1. Open permits must be closed out before the CCO inspection. 
  2. The blow off valve on your hot water heater must be at least 6 inches off the floor.
  3. The electrical service in the home must be at least 100 amps.
  4. All outlets in the bathrooms and within six feet of the kitchen sink must be GFI (Ground Fault Interrupter) protected.
  5. If there is a sump pump, it must not discharge through the sewer.
  6. There can be no cracked or broken windows.
  7. All staircases 36 inches or higher must have railings.
  8. The outlet for your laundry appliances must be GFI protected and be installed within six feet of the appliance.
  9. There can be no extension cords in the property.
  10. Asbestos must be removed or encapsulated if it is deteriorating.

The fee is $75 in Clark. Checks should be made payable to the Township of Clark. The certificate is good for 180 days from the date of issuance.

Clark also requires a Smoke Detector/Carbon Monoxide Certificate prior to the transfer of title. The cost for the certificate is $50, made payable to the Township of Clark. The application can be found here.

All Clark homes are required to have a smoke detector on each level and one outside of each bedroom.

In Clark homes built before 1984, individual battery operated detectors are acceptable. In homes built between 1984 and 1990 the detectors must be interconnected so that if one goes off, it activates all of the others. In homes built after 1990, the detectors must be interconnected and must have battery backup.

Carbon monoxide detectors, UL-2304, must be installed in the immediate vicinity of each bedroom.

Your home will not be issued a Smoke Detector/Carbon Monoxide Certificate if a key is required to exit the home from any door.

You also must have a minimum 5 pound ABC dry chemical fire extinguisher in the kitchen area.

Homes must be numbered to be issued a Smoke Detector/Carbon Monoxide Certificate in Clark.

The form for the CCo and the form for the Smoke Detector/Carbon Monoxide Certificate, along with the appropriate fees, should be submitted to the Clark Construction Office at least 2 weeks before your anticipated closing date to allow time for an inspection of the home and for filing of the certificates.

 

What happens to home prices in Clark when inventory drops?

Clark, NJ is home to about 15,000  people. Students in Clark attend Frank K. Hehnly Elementary School or Valley Road Elementary School,  Carl H. Kumpf Middle School for grades 6 – 8, and Arthur L. Johnson High School for grades 9 – 12.

As of this morning35 homes are curently offered for sale in Clark This is significantly lower than Clark has seen in more than 2 years. Typically, this drives prices up as supply is not large enough to meet demand.

And that is exactly what we’re seeing. As inventory dropped, prices have risen. The average sale price in January of 2014 was $421,308, almost 22% higher than in January of 2012.

Home sales are slightly slower than they were in December, but January is typically a slow month for homes sales. The average sold home in Clark in January was sold after 62 days on the market, about one third faster than in January of 2012.

If you’re thinking of buying a home in Clark, here are the current listings. After you’ve chosen your favorites, contact us to schedule your showings!

If you’re thinking about selling your Clark home, get a free Comparative Market Analysis here.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

SOLD! 35 School Street, Clark

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and

Team Zuhl

Are proud to announce

The sale of 35 School Street in Clark.  This beautiful 2 bed, 1.1 bath townhouse sold for $197,000.  The new owner should enjoy many years living in style with easy access to the Garden State Parkway, restaurants and shopping.

 

If you’re interested in finding out how to sell your home, or are interested in purchasing home, contact us and we’ll give you a FREE market analysis and answer any questions that you might have.

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For Sale – Single Family Homes in Clark

Planning to buy a home in Clark, NJ?

There are 44 homes to choose from, about half of the average inventory.  Sales have slowed down a bit with 10 homes sold in December, about 2 fewer than the average monthly sales.

With inventory down by 50% and sales only down by 20%, it’s no surprise that home values have remained strong. The average sold home in Clark in December was sold for $388,350, well above the average list price over the last two years.

Homes in Clark continue to sell quickly. The average sold home in Clark in December was sold after only 31 days – among the fastest in Union County.

If you’re thinking of buying a home in Clark, here are the current listings. After you’ve chosen your favorites, contact us to schedule your showings!

If you’re thinking about selling your Clark home, get a free Comparative Market Analysis here.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

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