HOME.COMMUNITY.GIVING.GRATITUDE
Hi, this is Mark Slade from The Mark Slade Homes team at Keller Williams Midtown Direct in Maplewood, New Jersey. So, this is my favorite time of year because this is when I get to tell everybody how the market is or was for the preceding year. So, we have a whole year's worth of data here and as you can see, I've been tracking this for quite some time. So, you get to see some the progression in terms of where the market has been heading. So, it was another great year for real estate in Maplewood, starting with the fact that we saw a slight increase in units sold to 236 units sold. Still nothing like it was in 2019, but uh we are trying to inch our way back up.
What I found most impressive, in my opinion, were two statistics. Firstly, we finally broke the average sale price which is now over $1 million—registering $1,010,225. I found that this was really quite nice to see and it represents a 3% increase over the previous year. While, that’s a modest increase, it is an increase just the same.
Continuing, with DOM--the days on market—as in the number of days between the listing date and the date that the property went under contract, went down a little bit almost a full day’s worth, which represents a 5% reduction in days on market.
The number of homes that sold for over a million was 109 this year, which was just under 50% of the total sold inventory, coming in at 49%. And when we look at the homes sold for over $1,000,000, we can see that going back to 2020, that we have now sold almost three times as many homes that sold for over a million dollars! That's pretty crazy performance.
When I put on my economics half of my brain, I like to delve deeper into the stats and that leads to the breakouts that I like to do “Greater Than,” “Equal To” and “Less Than,” as I believe they tell us how the market's performing overall. And what we're seeing here is that we've seen a continuous increase again in houses that sold for over asking hitting a high of 82.2% of the homes in Maplewood.
This clearly identifies Maplewood as an extremely hot real estate market! Properties that sold “at asking,” that dropped a little to 8.5%, but that's because more sales closed in the “over asking” column. Lastly, we saw also 9.7% of the homes sold for less than asking, and that was just a little less than the prior year.
For the proverbial “peaks and valleys,” the highest percent over asking was actually 149% of asking price; while the lowest percent versus asking was 91% of asking price.
So, all in all, it was really a great year for Maplewood real estate and, if rumor has it right, we may have actually had home sell for over $3,000,000; unfortunately, this home was not listed on the GSMLS where I pull the data from, even after checked the tax records to see if I can see what I heard was correct, so its not included in my analysis.
If you have any questions, please feel free to reach out to me. If you'd like to get a copy of my book, How to Sell Homes for More Money, you can please just text me at 917-797-5059.
And I'm proud to say that we have now served over 825 families and closed over One-Half billion in lifetime team sales. Once again, thank you so much for listening and let's hope that 2026 is an even better year. Thank you so much.
Mark Slade
The Mark Slade Homes Team
Keller Williams Mid-Town Direct Realty
Mark Slade runs a team at Keller Williams primarily servicing Essex, Union and Morris Counties, although his team has closed transactions if 52 municipalities. The Mark Slade Homes Team has now closed over $ One-Half Billion in lifetime sales, serving over 825 sets of clients.
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