Short Hills NJ Real Esate is not DEAD! Millburn NJ Real Estate is Alive and Well. In fact, sales for 2010 have significantly increased for sales in 2009. According to App.com, home prices rose in the 2nd quarter of 2010. http://www.app.com/article/20100811/BUSINESS/8110380/Home-prices-rose-in-2nd-quarter
Sure it is a bit slower now than in other months (like the well known hustle and bustle of the spring market) but HELLO! it is summer time and many people (including Real Estate agents) are on vacation in July or August. Kids go to camp, people work in their gardens and now it is time to get teens to college or children ready for school. This has been the pattern for the 26 years that I have been selling homes in Millburn and Short Hills NJ, and for much longer than that.
Have you noticed there is more traffic at the Jersey shore than in your little town in Essex, Morris and Union Counties? Have you seen more people at the pool, on the golf course or just in the park, instead of the mall? It is summer and it is the way of the world. Ok, maybe not in Austrailia which is a bit cold and wintery at this time of year but in our area, summer rules apply.
Despite what the NY Times published yesterday about the plunge in the housing market for July, and what every newscaster and writer is now claiming about how sales have come to a screeching halt in the last couple of months, I am here to report that agents are Towne Realty Group are still getting hits on our websites, calls on our signs, visitors to our open houses and writing offers on properties. Homes in Millburn, Short Hills, Maplewood, South Orange, Summit, Chatham and several towns nearby, are still holding on and there are many families looking for homes in these areas. In fact, during August there were still houses that came on the market and sold in less than 2 weeks with more than one offer and… OVER LIST PRICE. Check out our listing in Millburn at $900,000 at http://www.84Pine.com That’s right, we are still having bidding wars on some well-priced properties where people want to move up, sideways or scale down into a new residence and take advantage of these incredibly low interest rates.
There are still builders in NJ and PA, like Toll Brothers that just reported a profit and many local Realtors are having one of their best years in their careers; we have a few agents in our office who can also make that claim. In our LOCAL market, and remember, each market is different (you can’t just read the NY Times article and think it applies to every town) every town reports sales volume that is higher in 2010 than in 2009 and 2008. Don’t believe everything you read about the doom and gloom in the market. It is summer and we always slow down, but there is still a lot of wind in the ‘sales’ of our local market. It may not be true for every community in all the price ranges but Towne Realty Group is assisting over 100 buyers right now, who are ready to buy if they find the right house. See our buyer bulletin board to find out if one of them might like your home.
It does not hurt that NJ Monthly Magazine just rated Millburn High School as Number 1 in the state. That gives a huge boost to our market if families with teenagers want to assure that their kids get a first rate public education.