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Posts tagged ‘Springfield’

It’s a Sellers’ Market in Springfield

The Springfield real estate market is a classic example of a seller’s market. The inventory is down and demand has remained high, resulting in higher prices.

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If you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis!

For more information on Springfield, NJ:

Low Inventory in Springfield Real Estate Market!

The Township of Springfield, NJ, is home to nearly 16,000 people and is the home of Baltrusol Golf Club. It is also the location of the Battle of Springfield which was the last battle of the Revolutionary War.

 

 

There are currently 51 homes offered for sale in Springfield. This is the lowest inventory Springfield has seen in years, so now might be the time to sell. Low inventory nearly always results in an increase in prices because the supply is quickly used up by the demand.

 

 

 

And that is exactly what we’re seeing in Springfield prices. The average home sold in January was sold for $351,875 which is  about 8% higher than January of 2013. As the spring market kicks in, I wouldn’t be surprised to see prices climb.

 

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Home sellers in Springfield often want to know how long their home needs to be on the market before it sells. Of course, factors such as pricing and condition affect the length of time it will take to sell your home. Pricing your home at market value (your REALTOR can help you with that) and keeping the condition of your home good can help sell your home faster. On average, the homes that sold in January in Springfield sold after about 2 months on the market. For a January market, this is very fast. Who knows what spring will bring?

 

If you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis!

For more information on Springfield, NJ:

The Real Estate Market Report for Springfield, NJ

The Township of Springfield, NJ, is home to nearly 16,000 people and is the home of Baltrusol Golf Club. It is also the location of the Battle of Springfield which was the last battle of the Revolutionary War.

 

Housing Inventory in Springfield : There are 47 single family homes offered for sale in Springfield, ranging in price from $124,900 to $1,195,000. There were 13 homes sold in Springfield in December which is about average for the year. The inventory is much lower than typical – the average inventory in Springfield is 93 homes offered for sale at any given time in 2013. 

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 Home Prices in Springfield: The average sale price in Springfield in December was $379,562 and the average sale price in 2013 was $354,464. Overall, prices in Springfield are stronger now than they’ve been for several years. Springfield home values sit roughly at the middle of the pack for home values in Union County.

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How quickly do homes sell in Springfield? The average Union County home sold after 76  days in 2013 and after 89 days in Springfield. Homes that sold in December were sold after 108 days, higher than the township has seen since last winter.

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If you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis!

For more information on Springfield, NJ:

What’s going on in the Springfield, NJ Real Estate Market?

The Township of Springfield, NJ, is home to nearly 16,000 people and is the home of Baltrusol Golf Club. It is also the location of the Battle of Springfield which was the last battle of the Revolutionary War.

 

Homes in Springfield are selling more quickly now as compared to last year. The average home that sold in Springfield in November sold after only 51 days, much faster than the 111 days it took to sell a home a year ago. 

 

 

 

Prices in Springfield are also rising. The average home that sold in Springfield in November sold for $389,931, compared to an average price of $366,856 in 2012.

 

 

 

There are currently 78 homes offered for sale. This is the lowest inventory Springfield has held for over 2 years. Sales continue to be brisk with 16 homes sold in November compared to 12 in October and an average of 16 per month over the summer. To see a complete list of all homes offered for sale in Springfield, NJ, please click here.

 

 

f you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis!

 

For more information on Springfield, NJ:

The Springfield, NJ, Real Estate Market Report

Springfield, NJ, is located in northern Union County and is home to roughly 15,000 people. New Jersey Monthly magazine ranked Springfield as the 85th best place to live in New Jersey.

All of Springfield’s public schools are named for notably Springfield residents. Students in Springfield attend Edward V. Walton Early Childhood Center for grades Pre-K to 2, James Caldwell Elementary School in grades 3-5, Thelma L. Sandmeier Elementery School for grades 6-8 and Jonathan Dayton High School for grades 9-12.  Springfield students also attend Saint James the Apostle School serving grades Pre-K through 8.

 

Springfield currently has 5.2 months of inventory. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past. A Months of Supply of more than 5 months is what real estate professionals often call a “buyer’s market.” This means that there are more sellers than buyers in the area and homes are selling slower than they are being put on the market. Typically, this decreases prices.

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There are 109 homes for sale in Springfield today. Fifteen were sold in September.

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The average sale price in Springfield in September was $443,574. This is 11% higher than the average sale price in September of 2012.

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To see a complete list of all homes offered for sale in Springfield, NJ, please click here.

If you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis!

For more information on Springfield, NJ:

 

Baltusrol Golf Club

The Baltusrol Golf Club  is a private 36-hole golf club in Springfield, New Jersey and was rated by Golf Magazine as one of the “First 100 Clubs in America.”balt

Baltusrol, which opened for play in June of 1922, has been the site of many prestigious tournaments, most recently the PGA Championship in 2005 but including 15 USGA sponsored tournaments.  In 1985, it became the first club to have hosted both the U.S. Open and Women’s U.S. Open on two different courses and has hosted the US Open seven times, most recently in 1993.

Baltusrol is built on land originally purchased in the 1890s by Louis Keller, who was the publisher of the New York Social Register and is named for Baltus Roll, an apple farmer who was murdered at his home in 1831. Roll was murdered by Peter B. Davis and Lycidias Baldwin  who thought that there was a treasure hidden in his farmhouse on Baltusrol mountain. Baldwin fled to a tavern in Morristown and overdosed on drugs. Davis stood trial but was acquitted. He eventually was sentenced to 24 years in Trenton State Prison for a different crime and died there.

There are two courses at Baltusrol – the Upper course and the Lower course – designed to be equally challenging but different in design. The Lower course is built on rolling parkland and the Upper course runs along the Baltusrol Mountain ridge line. Both courses were designed by A. W. Tillinghast and are par 72. The Dual Courses are the first contiguous 36 hole golf course built in the United States.The clubhouse at Baltusrol was the first clubhouse to host a President of the United States, William Howard Taft.

Analyzing School Ratings

How’s your school doing?

Among other factors, home values are directly linked to schools. Great schools bring up the prices of homes, and bad schools bring down the prices.

If you haven’t seen the news, this year’s School Ratings by Inside New Jersey has been published. Inside New Jersey is not the only school rating system but it is the first to publish their results this year.

Inside New Jersey used 4 years of data to evaluate schools. The criteria they used were the HSPA (High School Proficiency Assessment) and SAT (Scholastic Aptitude Test) results. Each school was given a letter grade – A, B, C or D. They didn’t score schools the way you would predict – in other words, a score of “A” isn’t the best. A score of A means, according to  Inside New Jersey, “above average score, below average growth,” whereas a B means “above average score, above average growth.” A C means “below average score, below average growth” and a D means “below average score, above average growth.”

Here are the scores:

School Town SAT 08 score 12 score Pct Change Grade
Union Cty. Magnet Hs Scotch Plains 1940 396.8 427.8 7.80% B
Academy For Information Technology Scotch Plains 1763 358.9 397.6 10.80% B
Westfield High School Westfuekd 1741 358.7 377.9 5.30% B
Summit Senior H.S. Summit 1713 351.5 369.9 5.20% B
New Providence H.S. New Providence 1742 368.7 368.4 -0.10% A
Governor Livingston H.S. Berkeley Heights 1667 351.3 360 2.50% A
Scotch Plains-Fanwood H.S Scotch Plains 1591 337 354.7 5.20% B
Cranford Senior H.S. Cranford 1606 343.2 353 2.90% A
Union Cty. Vo-Tech Hs Scotch Plains 1510 319.8 347.1 8.50% B
Jonathan Dayton Springfield 1535 320.6 331.1 3.20% A
Arthur L. Johnson Clark 1497 318.3 325.7 2.30% A
Roselle Park High School Roselle Park 1396 285.3 317.5 11.30% B
David Brearley Hs Kenilworth 1398 297.5 299.1 0.60% D
Rahway H.S. Rahway 1291 248.8 277.2 11.40% C
Union Sr High Union 1358 269.9 277 2.60% D
Linden H.S. Linden 1268 243.6 261.3 7.30% C
Hillside H.S. Hillside 1232 227.2 246.2 8.40% C
Abraham Clark H.S. Roselle 1188 220.7 232.5 5.30% C

When these scores are correlated to home values, the average value of a home in an A school district is $519,660. The average value of a home in a B district is $482,271. The average home in a C school district is valued at $280,825 and the average home in a D school district is valued at $361,800.

For more information on schools in Union County, click here. For more information on home values, click here.

Mid-Year Real Estate Market Reports for Union County

When you’re considering buying or selling a home in Union County, you need the most up-to-date information about sales prices and inventory.  Here are the latest market reports for the towns in Union County:

When you’re ready to buy or sell a home in Union County, call Team Zuhl!

Summer Reading

Summer is half over.

While you’re enjoying the sun and sand and warm nights, don’t forget that students have summer reading to do. Here’s a roundup of all the summer reading for Union County students:

Where are the Red Light Cameras in Union County?

Where are Union County’s red light cameras? Two sources we were able to find are this list and this interactive map.

Traffic Light

The Insurance Institute for Highway Safety reports that nearly ¼ of all traffic accidents in the US are caused by drivers running red lights, killing roughly 800 people costing roughly $7 billio­n dollars in property damage, medical bills, lost productivity and insurance hikes.  As a result, many local towns are installing red light cameras which are automated devices to collect evidence the authorities need to prosecute drivers who run lights. The red light camera system measures the speed of the vehicle using loops in the pavement and then uses that speed to determine if the vehicle will be able to stop before the intersection. The camera takes two photographs – one of the vehicle just before entering the intersection with the light showing red and a second photo, taken one or two seconds later, showing the vehicle in the intersection. The photographs are date and time stamped and include data such as the speed of the vehicle and the amount of time that passed between the light turning red and the vehicle entering the intersection. If a camera catches a driver running a red light, the police will mail them a ticket, along with a photograph of you running the light. Worldwide, red light cameras have been in use since the 1960s and in the US since 1990.

New Jersey suspended its red-light camera program over questions about the accuracy of the devices. Under national standards, yellow lights are expected to stay lit one second for every 10 mph — or 3.5 seconds in the case of an intersection where the speed limit is 35 mph. In NJ, the speed must be determined by the speed at which 85% of the road’s traffic move rather than the actual speed limit – this is the strictest timing provision in the country. Cameras that have been tested to be accurate are still in use, and cameras that have not tested accurate are not in use, according to the State Department of Transportation. The Courier Post reports that the State DOT identifies 63 of the 85 red light cameras in NJ have not been tested to ensure that the yellow lights were timed correctly.

Towns where at least some of the existing red-light cameras will be temporarily suspended are: Newark, Linden, Wayne, Palisades Park, Union Township, Springfield, Roselle Park, Rahway, Englewood Cliffs, Pohatcong, Piscataway, Edison, East Windsor, Lawrence, Cherry Hill, Stratford, Monroe, Brick, Glassboro, Jersey City, and Woodbridge. The 22 cameras that are in compliance include 12 in Jersey City (all but the one at the intersection of John F. Kennedy Boulevard and Communipaw Avenue), three in Woodbridge (all but the one at Route 1 and Avenel Street), four in Gloucester and one each in East Brunswick, New Brunswick and Deptford.

The Courier Post reported this week that rear end crashes have increased by 20% since the cameras have been used. The suspicion is that drivers who are nervous about being caught on camera may be stopping at intersections too quickly.

 

 

 

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