Author Archives: Scott

The 1st 3 months of Westfield NJ real estate sales have shown improvement over 2011 in a number of measures.  While a few less houses came to market this year, signed contracts are up 12.5%.  Days on market are down from 77 to 72 on average.  The sale price as a percentage of list price is up from 94% to 96%, indicating several things:  more realistic pricing, more competitive buying situations, and shift in price power incrementally toward level between buyers and sellers.

Average prices are down from 707,887 to 660,647 .  This writer posits that the change reflects more on which homeowners are selling this year, than a commensurate change in relative values.  anecdotal evidence points more convincingly to a firming of values.  Call if you like anecdotes!

Your referrals are appreciated, especially to sellers.  I have sold out my inventory again, and need houses to show to waiting househunters and investors.

For 2012 year-to-date, the home sales pace is up 20% in the markets enumerated below. Real etate prices seem to be up 2.5%.  I say it seems that way because the list prices of houses now under contract are up that much.  We won’t know about sale prices until deals struck in January and February close in March-June.

Move in ready houses in desirable locations are selling very well, with short market times and multiple offers.  All in all the psychology of the market has turned fairly positive and I am hopeful volume and prices will continue to reflect that.

Please click for all status changes in areas of interest: Cranford  Edison-JP Stevens  Edison-Waterford  Metuchen  Mountainside  Scotch Plains/Fanwood  Summit  Warren/Watchung  Westfield by Grade School: Franklin  Jefferson McKinley  Tamaques Washington Wilson

In the first two weeks of February we have 35 new Westfield Homes for sale.  Of these, 5 are already in attorney review and 2 are already under contract.  Loist prices range from high 200′s to $4,295,000.  For a  house that in my opinion is totally worth it BTW.  See for yourself.

Quick sellers are in all price brackets too, up to $1.3 Million for these two weeks.  Total inventory is fairly steady at 123, with the spring swell imminent.

Westfield Home Buyers are scooping up the best buys at all price levels, whether you are buying or selling–it’s spring!

As has been the reality for several years, Atlas Van Lines reports more than 55% of NJ moves were outbound.  NJ population grows anyway, because immigrants fly in and/or travel light.  Story & Map