A blog for The Bedroom Communities of New York City: Maplewood, South Orange, Millburn/Short Hills and Montclair, etc. for Area Residents, for future residents and for home buyers and sellers in New Jersey. Provides information on housing trends, tips for sellers and buyers, mortgage information events and happenings around town and the regional area. Local contributions are welcomed!
Tuesday, January 26, 2021
651 Valley St Maplewood Twp., NJ 07040
Wednesday, January 20, 2021
Millburn and Short Hills 202 Real Estate Results
It is now 2021, thankfully, and I expect we all have high hopes for
returning to some kind of normal. While 2020 was a challenging year
for us all, our local Real Estate Market was hotter than ever.
Here are some of the fun facts:
MILLBURN:
1. Average price for a home sold in 2020 rose 1% over the previous
year to $813,548
2. Sold Price vs List Price performed at 100.4% of Average List
Price, the prior year homes sold for only 97.3% of asking.
3. The number of $1,000,000 homes sold rose to 20 in 2020 vs. 14
in 2019.
4. We saw a SIGNIFICANT increase in the number of homes that sold
for over asking=38.5%, this represents an increase from only 28.7% from
the previous year-2019.
5. Another 14.4% of the homes sold, sold for asking price, giving
us 53% sold for asking price or above, which was a 25% increase from
2019.
6. Highest Closed Price for 2020 was $1,800,000 for a home on
Linden Ave, in Millburn
7. Highest list price was $1,800,000, same as the sold price for
the same Linden home.
8. The number of homes sold increased in 2020, totaling 104,
versus the 87 sold in 2019, an increase of 20%.
9. The number of DAYS ON MARKET did increase to 38 from 33.6 days,
still a very healthy number.
10. In the $1,000,000 home market, 5 of the 17 Homes listed for
$1,000,000 or more, sold for over $1,000,000 price.
SHORT HILLS:
1. Average price for a home sold in 2020 rose 7% over the previous
year to $1,589,501
2. Sold Price vs List Price performed at 97.3% of Average List
Price, the prior year homes sold for a lower percentage--95.4% of
asking.
3. The number of $1,000,000 homes sold rose to 20 in 2020 vs. 14
in 2019.
4. We saw a SIGNIFICANT increase in the number of homes that sold
for over asking=30%, this represents a dramatic increase from 12.4% for
the previous year-2019.
5. Another 10% of the homes sold, sold for asking price, giving us
40% sold for asking price or above, which was more than double the
percent for 2019.
6. Highest Closed Price for 2020 was $4,400,000 for a home
7. Highest list price was $4,800,000
8. The number of homes sold increased in 2020, totaling 264,
versus the 209 sold in 2019, an increase of 26%.
9. The number of DAYS ON MARKET decreased to 56.8 from 68.2 days, a
very positive move in the right direction.
10. The highest list price for 2020 in Short Hills was $3,995,000
compared to last year when it was $4,800,000. This home closed for
$3,800,000, 95% of its asking price
Forecasts call for a continuation of these trends for the next 9 months*, all things being equal; that means that interest rates would stay at their close to all time lows and joblessness doesn’t increase further. *according to Jeffrey Otteau from Otteau Group, New Jersey’s most prolific appraisal and real estate advisory company.
Mark Slade Keller Williams 917.797.5059 Good Homes Selling a Millburn/Short Hills area home involves many steps and having an experienced local expert as your New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield--by your side will make the transaction run a lot smoother.
I would love to be your Millburn and Short Hills New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate. As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers
I am also a Luxury specialist (CLHMS), I have received special training and certifications to guide and educate you through the entire home buying and selling process. Not only does this extra training help me better understand this upper echelon in real estate, but its benefits also include a special luxury website: www.njluxhomes.com and a corresponding worldwide luxury network that helps to put luxury buyers and sellers together.
As your Millburn and Short Hills New Jersey listing agent I am well versed on as your local expert in all things in the local area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor, and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority.
Don’t forget These Helpful Sites:
For Open Houses: www. millburnnjopenhouses.com www. shorthillsnjopenhouses.com
and
For Homes For Sale: www.latestmillburnhomes.com and www.latestshorthillshomes.com
Tuesday, January 19, 2021
Address not provided Maplewood Twp., NJ 07040
Tuesday, January 12, 2021
74 Blanchard Rd South Orange Village Twp., NJ 07079
Wednesday, January 6, 2021
362 Elmwood Ave Maplewood Twp., NJ 07040
Tuesday, January 5, 2021
South Orange 2020 Real Estate Recap
It is now 2021, thankfully, and I expect we all have high hopes for returning to some kind of normal. While 2020 was a challenging year for us all, our local Real Estate Market was hotter than ever. Here are some of the fun facts:
1. Average price for a home sold in 2020 rose 6% over the previous year to $703,763
2. Sold Price vs List Price performed at 103.2% of Average List Price, the prior year we were flat.
3. The number of $1,000,000 homes sold rose to 24 in 2020 vs. 15 in 2019, so just over a 50% increase in $1M Plus.
4. We saw a HUGE increase in the number of homes that sold for over asking=54%, this represents a shift of 6% more than the previous year.
5. Another 15% of the homes sold, sold for asking price, giving us almost 70% sold for asking price or above.
6. Highest Closed Price for 2020 was $1,451,000 for a home in the Montrose.
7. Highest list price was $1,399,000 in The Manors and sold for full asking.
8. The number of homes sold showed a nice gain for 2020, totaling 291, versus the 268 sold in 2019.
9. The number of DAYS ON MARKET did increase slightly from 34.0 to 36.7, showing an 8% worsening, as the only negative factor in 2020 for South Orange Real Estate.
10. In the $1,000,000 home market, 15 of the 25 Homes sold for over $1,000,000 closed for asking or above.
Forecasts call for a continuation of these trends for the next 9 months*, all things being equal; that means that interest rates would stay at their close to all time lows and joblessness doesn’t increase further.
*according to Jeffrey Otteau from Otteau Group, New Jersey’s most prolific appraisal and real estate advisory company.
<script src="//pixel.adwerx.com/25992/
Mark Slade Keller Williams 917.797.5059 Good Homes Selling a Maplewood/South Orange/West Orange area home involves many steps and having an experienced Maplewood New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield--by your side will make the transaction run a lot smoother. I would love to be your Maplewood/South Orange New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate. As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers
I am also a Luxury specialist (CLHMS), I have received special training to guide and educate you through the entire home buying and selling process. Not only does this extra training help me better understand this upper echelon in real estate, its benefit include a special luxury website: www.njluxhomes.com and a corresponding worldwide luxury network that helps to put luxury buyers and sellers together.
As your Maplewood/South Orange/ West Orange New Jersey listing agent I am well versed on as your local expert in all things in the West Orange, Maplewood and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority. Don’t forget These Helpful Sites:
For Open Houses: www.maplewoodnjopenhouses.com www.southorangenjopenhouses.com
and
For Homes For Sale: www.latestmaplewoodhomes.com and www.latestsouthorangehomes.com
Maplewood 2020 Real Estate Recap
It is now 2021, thankfully, and I expect we all have high hopes for returning to some kind of normal. While 2020 was a challenging year for us all, our local Real Estate Market was hotter than ever. Here are some of the fun facts:
1. Average price for a home sold in 2020 rose 11% over the previous year to $665,776
2. Sold Price vs List Price performed at 104.9% of Average List Price, the prior year we were flat.
3. The number of $1,000,000 homes sold rose to 35 in 2020 vs. 29 in 2019.
4. We saw a HUGE increase in the number of homes that sold for over asking=63%, this represents a shift of 18% more than the previous year.
5. Another 17% of the homes sold, sold for asking price, giving us 80% sold for asking price or above.
6. Highest Closed Price for 2020 was $1,650,000 for a home on Hickory Drive, in Maplewood
7. Highest list price was $1,850,000 in Maplewood, but this home sold for much less than its asking price at $1,570,000 or 15% less than asking.
8. The number of homes sold was pretty much the same for 2020, totaling 389, versus the 390 sold in 2019.
9. The number of DAYS ON MARKET dropped from 37.4 to 26.4, almost a 30% decrease in the time it took to get a home under contract.
10. In the $1,000,000 home market, 22 of the 35 Homes sold for over $1,000,000 closed for asking or above.
Mark Slade Keller Williams 917.797.5059 Good Homes
Selling a Maplewood/South Orange/West Orange area home involves many steps and having an experienced Maplewood New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield--by your side will make the transaction run a lot smoother. I would love to be your Maplewood/South Orange New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate.
As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers
I am also a Luxury specialist (CLHMS), I have received special training to guide and educate you through the entire home buying and selling process. Not only does this extra training help me better understand this upper echelon in real estate, its benefit include a special luxury website: www.njluxhomes.com and a corresponding worldwide luxury network that helps to put luxury buyers and sellers together.
As your Maplewood/South Orange/ West Orange New Jersey listing agent I am well versed on as your local expert in all things in the West Orange, Maplewood and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority.
Don’t forget These Helpful Sites: For Open Houses: www.maplewoodnjopenhouses.com www.southorangenjopenhouses.com
and
For Homes For Sale: www.bedroomcommunitiesofnyc.com and www.goodhomesforgoodpeople.com
http://search.goodhomesforgoodpeople.com/index.cfm?action=newsearchsession&search_mode=form&primarysearchtype=active&searchtype=city&state=NJ&single_family=y&min_price=0&max_price=1000000000&county=Essex&city=West%20Orange%20Township&resetform=1/lewellyn Mark Slade Keller Williams 917.797.5059 Good Homes Mark Slade