The news continues to report a lack of stability in the real estate market and while thousands of sellers in NJ are either selling short or heading for foreclosure, there are very positive signs in some communities like Millburn and Short Hills, NJ, with good schools, good commutes to Manhattan and strong property values.
The month of May is right smack in middle of the spring market and the activity is busy at Towne Realty Group. The current listing inventory for Millburn Township (which comprises both Millburn and Short Hills) is up to 125 properties, with 7 of those in attorney review, 78 properties under contract and 62 closed sales since the first of the year.
Below is an overview of the market in showing minimum and maximum prices, average list price, median price and days on the market.
Coming off of a difficult winter, with many blizzards, it was not easy to show and sell homes from January to March, that were buried in snow. The market has shown signs of recovery with several homes trading in bidding wars over the list price, and the total of 62 closed sales since January 1st, is identical to the number of closed sales from from the same time period last year (1/1/2010 t0 5/16/2010).
If you would like to receive emails of what is new or sold on Garden State Multiple Lisitng Service, or for more details of a specific home, feel free to search the multiple lisitngs on our website. We list all the properties of all the local Brokers and we can show you any home of interest or find an expert in your areas of choice if we do not have someone available. If you have questions that you want answered quickly, please call or text Broker-Sales Associate, Karen Bigos 201-417-1600.