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Posts tagged ‘Springfield’

How long will it take to sell my Union County home?

The length of time it takes to sell your Union County home is dependent on several factors, the most important of which are:

  1. Location
  2. Condition
  3. Upgrades
  4. Marketing

The average Union County home that was sold in 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, and Garwood with 54 days. Among the slowest towns were Union with 96 days and Rahway at 85 days.

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More great news – every single town in Union County had a faster average Days on Market in 2014 than in 2012.

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The county average showed that homes in Union County sold 14% faster in 2014 than in 2012. The biggest improvement in DOM were Rahway and Fanwood with a 33% decrease in time it takes to sell a home. The slowest improvement was in Linden which only showed a 5% decrease in time to sell a home.

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How does this affect you? If you’re a homeowner, you can improve the length of time it takes to sell your home by improving its condition.  Another critical step is to choose a competent and professional agent who can market your home appropriately.

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

What is your Union County Home Worth?

Happy New Year, Union County!

With the new year comes new data, and one of the most compelling numbers we’ve crunched this week has been the change in prices from 2012 to 2014.

County-wide, the average home in Union County sold for 3.9% more in 2014  than the average home in 2012. Not every town, however, saw an increase and some towns were bigger winners than others. Garwood is the biggest winner over the past 2 years – the average sale price of a home in Garwood increased by 40% from 2012 to 2014. Also on the winner’s board was Clark with a 16.3% increase. Mountainside saw a 14.7% increase in prices and Rahway is up by 14.5%. Fanwood home prices increased by 12.6% during 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 0.8%.

Three Union County towns saw decreases in home values when 2014 average home sales were compared to 2012. Cranford homes lost 0.5% value, Scotch Plains lost 1.8% value and Kenilworth comes in with the biggest loss of 9.4%.

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What is your home worth? A home’s value is dependent on many things including location, condition, upgrades, and marketing. The average home in Union County in 2014 was sold for $403,443. In 2014, homes in Westfield were the highest valued homes in Union County. The average Westfield home that was sold in 2014 was sold for $711,933. Mountainside wasn’t far behind with an average price of $605,184. In the middle of the pack were Scotch Plains, Fanwood, Clark, and Springfield with average sale prices in the $400k range. Cranford, Garwood, and Kenilworth all had average sale prices in the $300k range and Union, Rahway, and Linden had average sale prices in the $200k range.

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

2014 Springfield Real Estate Round Up

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.  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 notable 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.

Before you buy or sell a home in Springfield, it’s important to understand the local real estate market. Here’s what you need to know:

Inventory: There are currently 10 homes offered for sale in Springfield – about 60% fewer than were on the market in August and 33% fewer than the 2014 average.

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Prices: The average price of a sold home in Springfield in December 2as $445,450, about 11% higher than the 2014 average and 27% higher than the 2013 average.

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Days on Market:

December was a very slow month for sales in Springfield. The average home that sold in December had been on the market for 134 days – higher than any month in the past 3 years. The average for 2014 was 65 days which is 2 weeks faster than the 2013 average of 78 days.

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What this means to you: It’s never been more important than now to have competent and experienced professional representation when you’re thinking of buying or selling. 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:

Union County Market Reports – July 2014

When you’re ready to buy or sell a home, one of the first steps you need to take is to educate yourself about the local market conditions. Here’s what you need to know this month:

 

For more information on selling your home:

 

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.

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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.

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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.

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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! 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.

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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.

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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.

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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:

What’s your favorite Farmers Market?

A farmers market evokes memories of sunshine, mouth watering berries, giant tables covered with bright vegetables, and corn on the cob so sweet it could be a dessert. I love picking giant shoppings bags filled with fresh fruits and vegetables and then piling them up on my kitchen table and cooking the day away. If you’re a farmer’s market lover, like we are, then get ready because the season is just about to begin. Here are some of our favorites:

  • Liberty Hall Museum Community Farmers Market at 1003 Morris Ave in Union on Thursdays from 11am-5pm from June 8th until October 30th. Tons of Jersey Fresh produce, wine, cheese, breads, honey, pickles, coffees, crafts, syrups.
  • Roselle Park Farmers Market at the corner of Chestnut Street and East Grant Ave in  in the gazebo parking lot of Michael Mauri Park in Roselle Park on Wednesdays from 1pm to 6pm from July 3rd to October 30th. Fruits, vegetables, flowers, herbs, baked goods, pickles.
  • Scotch Plains Farmers Market at 430 Park Avenue in the Municipal Parking Lot in Scotch Plains on Saturdays from 8am to 2 pm from May 17th through November. Jersey Fresh fruits and vegetables, baked goods.
  • Springfield Farmers Market at Dayton High School at 139 Mountain Avenue in Springfield on Mondays from 12 noon to 6 pm from July 1st through August. Fruits, vegetables, baked goods, granola.
  • Westfield Farmers Market at the South Avenue Train Station in Westfield on Saturdays from 8:30 am to 2pm from July 5th through October 25th. Fresh fruits, vegetables, nuts, granola, dried fruits, cheese, yogurt, eggs, baked goods, honey.

How do you know what’s locally ripe and in season? Try RipeTrack. Just type in the fruit or vegetable you’re looking for and see if you’ll be buying locally grown produce. Alternately, click What’s In Season Right Now and see all of the produce that local farmers are picking today.

 

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