The National News and Local Real Estate Disconnect, New Jersey Real Estate Doing Much Better!!
Posted Sep 4, 2007 @ 2:18 pm, Viewed by 719 Visitors, Read 755 Times.
Our local Real Estate Markets are doing considerably better than what many expect might be the case. With the national news media pounding away with their negative stories day after day you might think that anyone who owns a home will soon be bankrupt, and that anyone who is thinking of buying a home should have their head examined. You might think those things, but what you have been feed by the national news media and the truth are two different things.
New Jersey Real Estate continues to be in demand!! Why? because unlike other parts of the country, California & Florida for example, New Jersey never did see a speculative building boom unlike the aforementioned places. Home prices did not get wildly out of line, and there is was not and is not a large over abundance of New Construction homes just sitting on the market waiting to be sold. This is not to say that there are not new construction homes here and there, and in fact there are 3 large condo construction projects going up in Morristown. As this article is being writen two of those condo projects are about 80% sold out and the third is about 70% sold out. Does that sound like a real estate bust to you?
Here we go, Part 11 in the continuing series.
The Media is asking
"When will the Rebound Come"
Inventory Numbers:
| Active Listings | Town | DOM | Av - Price |
| 137 | Morristown NJ | 92 | $ 503,924.00 |
| 152 | Morris Township | 90.6 | $ 850,053.00 |
| 71 | Madison NJ | 76.5 | $ 811,447.00 |
| 97 | Chatham NJ | 108.8 | $ 1,084,128.00 |
| 43 | Florham Park | 105 | $ 723,273.00 |
| 264 | Parsippany NJ | 82.1 | $ 410,721.00 |
| 101 | Short Hills / Millburn | 92.4 | $ 1,736,775.00 |
| 131 | Maplewood NJ | 73.1 | $ 512,690.00 |
| 104 | South Orange NJ | 81.9 | $ 697,278.00 |
| 134 | Livingston NJ | 102.4 | $ 939,795.00 |
| 105 | Summit NJ | 96.3 | $ 1,080,360.00 |
| 47 | New Providence NJ | 84.6 | $ 665,730.00 |
Statistical data from GSMLS, Morris County NJ, Essex County NJ & Union County NJ
Just like you, home buyers like to use Google. The most popular ways that local home buyers search for real estate are listed here.
- Morristown NJ Real Estate
- Madison NJ Real Estate
- Chatham NJ Real Estate
- Parsippany NJ Real Estate
Today's home buyers are very savvy, 82% of them are using the internet for 6 months or more researching homes and towns, according to the latest NAR research. If you want your home to be competitively marketed don't you think your home should be easy for this group of home buyers to find?
Remember, All Realtors Are Not The Same!!
These days there is much more to getting your home sold than putting it in the MLS. In today's New Jersey real estate market the internet is king!! Very few home buyers look to the newspaper when they think about looking for a home. They go directly to the internet, that is where they know they will find the newest homes for sale listings, and the most experenced Realtor to help them in finding the best deal that fits their home needs.
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James Boyer
NJ Realtor Associate
Keller Williams Real Estate
488 Springfield Ave.
Summit, NJ 07901
973-647-0253 (Direct)
973-376-0033 (Office)
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James Boyer, is a resident of Morris Township in Morris County New Jersey and Specializes in listing and selling homes in Morristown, Morris Township, Madison, Florham Park, Chatham, Summit, Short Hills, Millburn, Maplewood, & South Orange New Jersey and Morris Essex & Union County Real Estate. Read More
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