New Jersey Real Estate Information

There are currently 79 single family homes and 5 multi family homes on the market for sale. These numbers have stayed fairly stable in the past month as the spring market has picked up with a healthy amount of buyers. Last month, there were 81 listings for sale at this time. Inventory levels are much higher than before, giving buyers more options when selecting a home.

Although prices have trended lower, Cranford still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.

There were 13 properties that closed in March in Cranford, the average selling price was $455,653and the average days on market was 54. (according to Garden State MLS Statistics)

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.cranfordhomesonline.com/

http://www.TheCarrollConnection.com

There are currently 196 single family homes and 2 multi family homes on the market for sale. These numbers have risen in the past month as the spring market has picked up. Last month, there were about 175 listings for sale at this time. Inventory levels are higher than before, giving buyers more options when selecting a home.

Although prices in general have trended slightly lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.

There were 30 properties that closed in March in Westfield, the average selling price was $891,675 and the average days on market was 77. (according to Garden State MLS Statistics)

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.westfieldpropertiesonline.com

http://www.thecarrollconnection.com/

There are currently 128 single family homes on the market for sale in Summit, NJ.

Although prices in general have trended slightly lower, Summit still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.

There were 19 properties that closed in April in Summit, the average selling price was $1,028,842 and the average days on market was 86. (according to Garden State MLS Statistics)

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.GoCarrollTeam.com

http://www.thecarrollconnection.com/

As of April 27, 2007, there are 117 single family/condo listings for sale in Summit, NJ. The average sales price of these listings in Summit is $1,320,463.

There are 86 properties in Summit, NJ under contract.

Sean Carroll - Realtor

RE/MAX Classic Group

www.TheCarrollConnection.com

Well here we go again. I had reported a few weeks back that the inventory in Cranford NJ of homes for sale had topped the 80 mark. Now, we have dropped back down to 69 homes on the market in Cranford, and buying activity strong, after the weather warmed up following our flooding noreaster.

If the inventory levels drop significantly, and the buyers remain present, our market will remain a healthy one for buyers and sellers alike.

Sean Carroll - Realtor for Cranford NJ, Westfield, NJ, Berkeley Heights, NJ and surrounding towns

www.TheCarrollConnection.com

www.CranfordHomesOnline.com

There are currently 81 single family homes and 5 multi family homes on the market for sale. These numbers have risen substantially in the past month as the spring market has picked up. Last month, there were only 57 listings for sale at this time. Inventory levels are much higher than before, giving buyers more options when selecting a home.

Although prices and demand in general have trended lower, Cranford still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.

There were 10 properties that closed in March in Cranford, the average selling price was $459,350 and the average days on market was 70. (according to Garden State MLS Statistics)

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.cranfordhomesonline.com/

http://www.TheCarrollConnection.com

There are currently 185 single family homes and 3 multi family homes on the market for sale. These numbers have risen substantially in the past month as the spring market has picked up. Last month, there were about 155 listings for sale at this time. Inventory levels are much higher than before, giving buyers more options when selecting a home.

Although prices and demand in general have trended lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.

There were 26 properties that closed in March in Westfield, the average selling price was $903,497 and the average days on market was 81. (according to Garden State MLS Statistics)

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.westfieldpropertiesonline.com

http://www.thecarrollconnection.com/

There are currently 57 single family homes on market for sale in Berkeley Heights NJ. These numbers have remained relatively stable over the past month.

Although prices and demand in general have trended lower, Berkeley Heights still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.

There were 11 properties that closed in March in Berkeley Heights, and the average selling price was $533,272 and the average days on market was 120. (according to Garden State MLS Statistics)

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.berkeleyheightshomesonline.com

http://www.thecarrollconnection.com/

For the 12 month period ending January 31, 2007 as compared to the 12 month period ending July 2006, there are some clear signs that the real estate market in Cranford, NJ has continued to correct from record price appreciation, and a polarized seller's market to a moderate buyer's market and flat prices to slight price decline.

Average Days On Market:

12 mos Ending 7/2006: 44

12 Mos. Ending 1/2007:  54

List Price to Sales Price Ratio:

7/2006: 98%

1/2007: 97%

Total Listings Activated in MLS

7/2006: 1283

1/2007: 1145

While these figures definitely support a more balanced and normalized real estate market, over the past several months, the amount of buyers and sellers has remained relatively equal. In the coming months, the inventory should rise, and depending upon the number of buyers, the prices and trends will react accordingly.

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns