Tuesday, May 29, 2007

Long Hill Township, Berkeley Heights, New Providence & Summit, New Jersey Real Estate update


It is time to be positive about OUR Real Estate market.

We ALL need to make an effort to report accurate data in regards to our local real estate markets. We can no longer rely on the main stream media to accurately depict our local market trends....how could you possibly compare real estate just outside of Detroit to real estate along the "Mid-town direct" train line in to New York City? Apples to apples.....I think not!

I am fortunate to report that our market area (along the "Mid-town direct" train line in New Jersey) is doing great. Even though sellers "should" no longer gamble with their original list price, we are finding that if a home is priced "correctly" from the start, we can see multiple offers. What a concept.....pricing a home to sell!!! Also, when you really think about it, an average of 2 months on the market is really quite "normal".

Listed below is data on current active listings, area price ranges and average days on market.

As always, I can reached via e-mail or my cell at (908) 432-5721 or visit www.sommerssellsrealestate.com for more up to date information on Long Hill Township (and surrounding areas) real estate.

Long Hill Township (Millington, Stirling, Gillette, Meyersville)

Active Listings - 52

Price Range - $319,999 - $1,295,000

Average days on market - 59

Berkeley Heights

Active Listings - 81

Price Range - $327,900 - $2,388,000

Average days on market - 66

New Providence

Active Listings - 58

Price Range - $389,000 - $2,350,000

Average days on market - 58


Active Listings - 124

Price Range - $289,000 - $10,500,000

Average days on market - 72

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