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Real Estate Market Update for Linden, NJ – September 2015

Linden, New Jersey, is home to just over 40,000 people in southeastern Union County.

Before a buyer or seller begins a real estate transaction in Linden, the first step is to understand how the local real estate market is behaving. Before you list your home for sale, you need an accurate picture of how much it is worth. Before you begin looking at houses to buy in Linden, it’s important to know how much house you can afford.

Sales: Currently there are 300 homes offered for sale in Linden. The trend line for that past 3 years shows practically no change in inventory.  There were 25 homes sold in Linden in August. The trend line over the past 3 years also shows no change in sales. Since real estate is often a function of supply and demand, it’s important to note that the same number of homes are listed every month as are actually sold.

lindenINVENTORYaugust2015

Prices: The average sale price of a home sold in Linden in August was $231,081. Home prices have been increasing for several years. Lower mortgage rates and an increasing economy have helped boost prices in Linden even though the inventory remains high.

lindenPRICESaugust2015

Days on Market: People who are selling their house often have anxiety about maintaining their home in show-ready condition. Being constantly ready for a showing is stressful and most home sellers are eager to sell quickly – not only to relieve the anxiety of being on the market, but also to help them get to the next stage in their lives. Therefore, Days on Market can be an indicator of how long an average home will take from the day it is listed until the day it sells. In Linden, homes sold in August after an average of 81 days on the market.  The good news is that the overall trend in Linden is that homes are selling more quickly now than they were two or three years ago, although the improvement is very slow. The bad news is that homes sell slowest, typically, over the winter. Homeowners who want a quick sale have a small window of opportunity in the autumn before risking a longer time on the market.

lindenDOMaugust15

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:

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Dear TZ – What’s our Cranford home worth?

Dear Team Zuhl,

After Hurricane Sandy, the recession, and all this talk about short sales and foreclosures, we don’t have any idea what our Cranford home is worth! Do you know?

~Cranford Clan

Dear Cranford,

Of course we do! Today’s market in Cranford sure is different than it used to be, but the same rules apply.

Call us today for a free comparative market analysis. We’ll look at the other properties in your neighborhood that have sold recently and compare them to yours to get a reasonably good estimate of what your home would sell for in today’s real estate market!

~ Team Zuhl

cranfordfreemarketanalysis

 

Union County Mid-Year Real Estate Market

The first half of 2014 is over and it’s a good time to analyze the real estate market and see how it’s changed from last year to this year.

The average Union County single family home sold for $392,644 during the first half of 2014. Some towns were significantly higher and some were significantly lower.
avgsaleprice1sthalf2014

It’s typical that Linden, Rahway, and Union are among the lowest in the county as they were in 2012 and 2013. Likewise, Westfield, Mountainside, and Scotch Plains have had the highest real estate values in Union County in previous years.

 

When we compare each town to the last half of 2013 and the first half of 2013, we see a different picture emerging.

 

avgsaleprice1sthalf2014andearlier

 

Now we can look at each individual town and see that some towns are actually seeing an increase in value over the past 18 months – most notably Rahway, Springfield, Clark , Cranford, and Mountainside – and some towns are seeing a decrease in value over the past 18 months – Kenilworth, Westfield, Union, Garwood, Scotch Plains, Linden, and Fanwood.

What does this mean to you? If you live in a town where the prices are increasing, you’re in a good position if you want to sell your home. Buyers are willing to pay more this year than they were last year for your home. If you live in a town where the prices are decreasing, you’ll need to make sure that your home is in top showing condition and that it’s priced competitively to attract buyers.

Which towns were the biggest winners and the biggest losers?

percentchange1sthalf2014

 

 

Kenilworth was the town whose properties showed the largest decrease in value from the first half of 2013 to the first half of 2014 with a 10.5% decrease in home values. Westfield was close behind with a 7.6% decrease in home values and Union homes lost 5.5%.

Rahway homes had the biggest gain in home values with 2014 showing an average sale price of 14.3% higher than 2013. Springfield was also a big winner with a 14.2% jump. Clark saw a 12.2% increase and Cranford home prices increased by 8.4%.

When you’re ready to buy or sell a Union County home, please contact us for more information! 

 

 

Union Real Estate Market Report – June 2014

When you’re thinking of buying or selling a home in Union, a necessary first step is to research the real estate market conditions. Here’s what you need to know this month.

Inventory: There are currently 347 homes offered for sale in Union. They range in price from $65,000 to $1,840,00.  This is an exceptionally low inventory and the laws of supply and demand would indicate that prices will go up as an increased number of buyers are eager to be settled before the end of the summer.

unionINVENTORY614

Prices: The average sale price in Union in June was $256,649, just slightly above the 12 month average of $250,512. Prices have been relatively stagnant for the past year, although there is a downward trend when we compare past years.

2014 average YTD =$239,392

2013 average = $256,665

2012 average = $245527

unionPRICES614

To see this month’s infographic, please click here.

union4th

If you’re considering selling your Union home, call us today for a free comparative market analysis of your home.

For more information on selling a Union home:

For more information on Union 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:

Scotch Plains Real Estate Market Report – June 2014

A necessary first step to take before you buy or sell a Scotch Plains home is to learn about local real estate market trends. Here’s what you need to know this month.

Inventory: There are currently 172 homes offered for sale in Scotch Plains, ranging in price from $230,000 to $3,295,000 – something for every budget! Please click here to search listings and then contact us when you’re ready to schedule your showings!

scotchINV614

Prices:  The mean sale price in Scotch Plains in June was $442,500, only slightly below the 12 month average of $445,807.

scotchPRIC614

With prices holding steady, 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.

For this month’s infographic, please click here:

schotch614

Team Zuhl is here to help you every step of the way. Please call or email us when you’re ready to get your home on the market! Good luck!

For more information on selling a home:

For more information on Scotch Plains Real Estate:

Rahway Real Estate Market Report – June 2014

Before you buy or sell a home in Rahway, an important first step is to learn about the real estate market conditions. Here’s what you need to know this month.

Inventory: There are currently 216 homes offered for sale in Rahway.  They range in price from $29,000 to $539,000. Please click here to search the inventory and contact us when you’re ready to schedule a showing!

rahwayINV614

Prices:  The average sale price in Rahway in June was $212,508, slightly higher than the 12 month average of $209,523.

rahwayPRIC614

What does this mean to you?

If you are a homeowner in Rahway and if you are considering selling your home, 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.

To view this month’s infographic, please click here.

rahway614

For more information on selling a home:

For more information on the Real Estate in Rahway and Linden:

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