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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.

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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:

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How’s Kenilworth’s Real Estate Market?

Kenilworth, NJ, is located in the heart of Union County and is home to nearly 8000 people.

Harding Elementary School holds students from Pre-K to sixth grade, David Brearley Middle School holds grades 7 and 8 and David Brearley High School holds students in grades 9-12 from Kenilworth and Winfield Township. Kenilworth also has St. Theresa’s which is a Roman Catholic elementary school.

There are currently 31 homes listed for sale in Kenilworth. Five homes were sold in September while 10 homes were sold in August.

The average sale price of a home in Kenilworth in September was $363,539, very close to where it has been nearly all year and significantly higher than where it was in September of 2012.

kenilworth active and sold listings

kenilworth sale price and list price

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.

Kenilworth currently has 4.2 months of inventory, making this a weak seller’s market.

kenilworth months supply

If you’re interested in purchasing a home in Kenilworth or the surrounding area, please see a complete list of homes at www.WayneZuhl.com. If you’re planning to sell your Kenilworth home, please call us at 908-917-4189 for a free comparative market analysis of your home.

For more information on Kenilworth Real Estate:

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