A great place to live and work

Posts tagged ‘prices’

Buying or Selling a Home in Linden – July 2015

Before you buy or sell a home in Linden, your first step is to understand how the real estate market is performing. Here’s what you need to know this summer.


Inventory
: There are currently 279 single family homes offered for sale in Linden. This is a higher inventory than we normally see in June. Increased inventories tend to cause a decrease in prices.

lindenINVjune2015

There were 21 homes sold in June of 2015.

lindenSOLDSjune2015


Prices
: The average price of a home sold in Linden in June was $224,043. about 4% higher than the 12 month average of $215,276.

lindenPRICEjune2015
Sellers who want to get top dollar for their Linden home will want to be sure that their
marketing is on point and that their home is appropriately priced. Buyers who are looking for a bargain in Linden will want to do their research. When you find the home you want to buy, be sure that your offer is competitive because there are many multiple offer situations this summer.


Days on Market:

lindenDOMjune2015

Homes that sold in Linden in June sold after an average of 124 days on the market, significantly higher than the 12 month average of 98 days.

Home sellers who are interested in selling their Linden property quickly will need to be sure that the home is priced correctly. Overpriced homes sell much more slowly, if they sell at all. Condition also affects the speed at which a home will sell. Homes that are cleaner, more up to date, and in better condition will sell faster than others.

If you are a buyer or a seller interested in a home in Union County, please call Team Zuhl! We’re happy to help you in all of your real estate needs!

For more information on selling a home:

For more information on the Linden Real Estate Market:

Clark Real Estate Market Report – October 2014

Did You Know? Clark, NJ, was incorporated as a township 150 years ago and was named for Abraham Clark who was a signer of the Declaration of Independence. In 2013, New Jersey Monthly magazine ranked Clark as 174th in its rankings of “Best Places To Live” in New Jersey.

Schools: Today, nearly 15,000 people call this suburban township home. Public school children in Clark are served by Frank K. Hehnly Elementary School, Valley Road Elementary School, Carl H. Kumpf Middle School, and Arthur L. Johnson High School.

If you’re thinking of buying or selling a Clark home, your first step is to educate yourself on current market conditions. Here’s what you need to know this month.


Inventory
: There are currently 58 single family homes offered for sale in Clark. Please click here to browse listings and then contact us for your private showings.

The inventory hasn’t yet begun its typical winter slow down. By this time last year, the inventory had dropped to about 70% of the summer high but this year we’re holding steady.

clarkinvoct14

Prices: 

Good news for sellers – as inventory is holding steady, so are prices. The average sale price of a home in Clark in October, 2014, was $459,300, slightly above the 12 month average of $415,162.

clarkpricesoct14

Time on Market: 

Homes may be seling at the same price as they did all summer, but they are definitely selling more slowly. The average sold hom in October had been on the market for 75 days compared to 54 days in August.

clarkdomoct14

What does this mean to you?

When the inventory remains high through the autumn, prices tend to drop as sellers get anxious. Since prices have held steady through the autumn, this winter may see a drop as sellers agree to lower prices in order to end their increasingly long Days on Market. There are so many houses on the market that buyers really have their pick, but buyers need to be prepared to pay full price. Last year, prices really didn’t drop until February, and even then they never got as low as the previous summer.

If you want to sell your home, you need to price it competitively and keep it in top notch showing condition in order to stand out from the large pack.

What’s your next step?

If the time is right for you to buy or sell a home in Clark, Team Zuhl is here to help you every step of the way. Please give us a call at 908-917-4189.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

Real Estate Market Conditions – Clark, NJ – August, 2014

Did You Know? Clark, NJ, was incorporated as a township 150 years ago and was named for Abraham Clark who was a signer of the Declaration of Independence. In 2013, New Jersey Monthly magazine ranked Clark as 174th in its rankings of “Best Places To Live” in New Jersey.

Today, nearly 15,000 people call this suburban township home. Public school children in Clark are served by Frank K. Hehnly Elementary School, Valley Road Elementary School, Carl H. Kumpf Middle School, and Arthur L. Johnson High School.

If you’re thinking of buying or selling a Clark home, your first step is to educate yourself on current market conditions. Here’s what you need to know this month.

Inventory: There are currently 83 homes offered for sale this month in Clark. Prices range from $179,000 to $1,050,000. Inventory is up this month which is normal for the end of the summer. There were 18 homes sold in August – slightly slower than earlier in the summer.

clarkinventoryaug14


Prices: 
 The median sale price in Clark in August was $359,500, down from July’s median of $393,950, and slightly below the 12 month median of $368,407. List prices continue to rise. August’s median list price was $425,000, up from July’s median of $399,333 and above the 12 month average of $420,807.

clarkpricesaug14


Time on Market: 
The average sold home in Clark in August was sold after 54 days on the market – slower than July’s DOM of 40 days and just under the 12 month average of 55 days.

clarkdomaug14

What does this mean to you? The summer market appears to be coming to an end. The homes that were in market-ready condition and that were priced to sell were sold over the summer, but the summer has ended strongly. Even though inventory is dropping, there are still some beauties left so buyers arriving late to the market still have some opportunities. Sellers who want to sell their homes this winter will have to have a strong marketing campaign, great pricing, and be market ready in order to appeal to the decreased number of buyers in the market right now.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

Springfield Real Estate Market Report – June 2014

When you’re thinking about buying or selling a home in Springfield, a necessary first step is to understand the local market conditions. Here’s what you need to know this month:

Inventory: There are currently 115 homes offered for sale in Springfield. They range in price from $119,000 to $1,235,000.  This is the highest inventory held in Springfield in about 2 years after a very low inventory winter. The summer market should clear out some of those homes.

springfieldINV614

Prices:  The average sale price in Springfield in June was $347,879 and the average sale price over the past 12 months was $375,612. With inventory up, prices often drop.

springfieldPRICES614

What does this mean to you?

Homeowners who are considering selling their home must be sure that it is in perfect showing condition. Be sure to consult a Real Estate professional for a Comparative Market Analysis that will help you to price your home competitively.

Please click here for this month’s infographic.

spring614

If you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis! If you’re thinking of buying a home in Springfield, click here to search available homes.

For more information on selling your home:

For more information on Springfield, NJ:

What do you need to know about Springfield’s Real Estate Market?

Springfield, NJ, home buyers and sellers are wise to spend some time researching real estate market conditions before they buy or sell a home. Here’s everything you need to know this month:


Inventory: 
When you look at this graph, it’s easy to see the seasonality of the real estate inventory. The blue line shows the active listings over the past 3 years. Each bump shows the increase in inventory during the summer, and each valley shows the decrease in inventory over the winter. This past winter was a bit lower than the previous year, and last summer wasn’t as high as the summer before. This year, we’ve already hit a higher inventory than all last summer, which may drive prices down.

Image

What does this mean to you? If you are a homeowner who would like to sell your home, you’re going to want to make sure that your homes stands out in the crowd. Is it up to date, well maintained, and immaculately clean? Is it easy for agents to make appointments to show the house? Is it priced well?

Prices: 
It’s easy to see a steady increase in list prices (the red line) in the graph to the right. This is a function of seller confidence, and it’s a pattern pretty much seen nationwide. The blue line in the graph to the right shows sale price. Not as obvious a pattern, but the average sale price in Springfield over the past 3 years was $369,598, and the average sale price in May of 2014 was $444,808 – 20% higher than average. This is a function of buyer confidence and is a great indicator of market value.

Image

What does this mean to you? If you’re planning to buy a home in Springfield, expect prices to continue to rise over the next few months. Winter might see a slowdown if you’re willing to wait that long, but don’t forget that mortgage rates are going up also.


Days on the Market: 
In May, the average Days on Market in Springfield was 37 days – a speed that has not been seen in Springfield in several years.

Image

What does this mean to you?  This is a statistic that is extremely important for both buyers and sellers. When homes sell quickly, buyers need to act fast. When homes are selling slowly, sellers need to plan ahead and be ready for a long wait. Of course, there are ways you can help your home to sell more quickly.

 

If you have a home in Springfield that you’d like to sell, contact us for a free comparative market analysis! If you’re thinking of buying a home in Springfield, click here to search available homes.

For more information on Springfield, NJ:

Fanwood Inventory bounces up, but not quite up to 2013 levels

May’s Real Estate Market was a busy one in Fanwood with 8 homes sold at a record high average sale price! Here’s what you need to know if you’re thinking of buying or selling a home in Fanwood:

Inventory – The 2014 Fanwood real estate inventory isn’t as high as we saw in 2013 which may drive prices up.  Currently, 41 homes are offered for sale.fanINVmay14

 

 

 

 

 

 

Prices – Driven  up by lower than normal inventory and by the typical spring/summer bounce, the average sale price in May in Fanwood was $551,050.

fanPRICESmay14

 

 

fanDOMmay14

Days on Market
 – Homes are selling quickly. The average home in Fanwood was sold after only 56 days on the market. While that is quick and a definite improvement compared to the 111 days we saw in March of 2014, compare it to May of 2013 when the average Days on Market was 38.

 

 

What does all this mean to you? 

If you’re buying a home in Fanwood, you have fewer homes to choose from and should expect to act fast once you find the right home for you. We’re seeing some bidding wars going on as multiple buyers find themselves making offers on the same home.

If you’re selling a home in Fanwood, this might be the best time to take advantage of the low inventory. Buyers are out looking in Fanwood and are willing to pay top dollar for homes that have been well maintained and are updated.

What does this mean to the home buyer or seller in Fanwood? Call Team Zuhl today!

For more information on selling a home:

For more information on Fanwood Real Estate:

Westfield Inventory up and Prices down

Before you buy or sell in Westfield, an important first step is to educate yourself on the market conditions. Team Zuhl has crunched the numbers for you and here’s what you need to know.

Image

 

For more information, to browse listings, or for your free Comparative Market Analysis, please contact us.

Tag Cloud

%d bloggers like this: