A great place to live and work

Happy New Year!

For much of Union County, 2014 was a re-building year, a year in which the real estate market continued making the tentative early steps to recovery from the crash a few years ago. Linden was no exception. As the market recovered, it made slow but steady improvements in price, inventory, and months supply and ended the year in better shape than it started the year.

Inventory: A low inventory typically correlates to an increase in demand and therefore an increase in price.

  • Current inventory: 223
  • 2014 average inventory: 242
  • 2013 average inventory: 249

There were 27 homes sold in December of 2014. The average month in 2014 saw 22 sales. linden14inv

Prices: Home values in Linden fluctuated in 2013 and then saw a singificant improvement in the spring of 2014. Prices have since dropped.

  • December 2014 average sale price: $188,507
  • 2014 average sale price: $207,933
  • 2013 average sale price: $209,775

linden14prices

Days on Market: The fastest selling homes in Linden are those that are the most appealing to Linden buyers. Homes that are priced closest to market value and the homes that are well maintained will sell faster.

  • December DOM: 125 days
  • 2014 average DOM: 105 days
  • 2014 average DOM: 118 days

The biggest news here is that there was an improvement from 2013 to 2014 of 13 days.

linden14DOM

Month’s Supply:  Real Estate Professionals judge the strength of a real estate market based upon the Months of Supply in the area. 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 5 months is considered average – buyers and sellers are about equal in the area and homes are being bought at about the same rate that they are being put on the market.

A Months of Supply of less than 5 months is what real estate professionals often call a “seller’s market.” This means that there are more buyers than sellers in the area and homes are selling quicker than they are being put on the market. Typically, this increases prices.

A Months of Supply of greater than 5 months is what real estate professionals call a “buyer’s market.” This means that there are more sellers than buyers in the area and homes are sitting unsold for a while. Typically, this decreases prices.

  • Linden’s Months of Supply for December 2014: 7.53
  • Linden’s Months of Supply for 2014: 9.1
  • Linden’s Months of Supply for 2013: 9.5

linden14monthssupply

While still a “Buyers’ Market,” Linden is showing significant gains over the past 2 years. Not only did 2014 show an improvement over 2013, but 2014 ended with a long string of gradual improvements and ended with its lowest number in several years.

What does this mean to you? If you are a homeowner or a homebuyer in Linden, it’s never been more important than now to have competent and professional representation. Team Zuhl is here to help you every step of the way. Contact us now for your free Comparative Home Analysis!

For more information on selling a home

For more information on the Real Estate in Linden:

Advertisements

Comments on: "Linden Real Estate Market Report – 2014" (8)

  1. […] this time period and Springfield increased by 9.9%. Lesser gains were seen by Westfield at 4/2%, Linden at 1.5% , and Union at […]

  2. […] 2014 was sold after 66.6 days with the range in Days on Market from 50 days (Cranford) to 105 days (Linden).  Among the fastest towns were Fanwood with 51 days, Westfield with 53 days, […]

  3. […] Linden Real Estate Market Report – January, 2015 […]

  4. […] Linden Real Estate Market Report – January, 2015 […]

  5. […] Linden Real Estate Market Report – January, 2015 […]

  6. […] Linden Real Estate Market Report – January, 2015 […]

  7. […] Linden Real Estate Market Report – January, 2015 […]

  8. […] Linden Real Estate Market Report – January, 2015 […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Tag Cloud

%d bloggers like this: