National News means nothing for Madison NJ Real Estate Market!!

Housing construction fell in November and single-family activity dropped to the lowest level in more than 16 years as a severe housing slump showed no signs of a turnaround.  This is how the headline from the national news reporter Martin Crutsinger, AP Economics.  Never mind that better than 50% of his results are coming from California, Florida, Arizona & one or two other South Western states.

Madison New Jerseys housing market seems to have flattened out now after declining in the spring and early summer.  The only real price reductions we are continuing to see are from home sellers who over priced their homes to start with. 

What does this mean for Madison New Jersey home sellers? 

If you want to sell, this is a good time to get started while the inventory levels are down.  The real fury of new listings will likely come in March and early April.  If you can get your home on the market long before all the competition hits in March and at the right price, you likely can get your home sold for a good fair price.

What does this mean for Madison New Jersey area home buyers?  

while the new home listings coming to market this last month or so are mostly priced properly, there are still plenty of homes which have been on the market for a while now.  Many times home buyers look to these listings thinking there must be something wrong with the house which is why it did not sell.  The truth is the problem that likely kept the house from selling was that it was over priced in the beginning, and by the time they got around to bringing the price down it was too late.  You see, the highest price any home seller is going to get for their home is in the first 3 to 4 weeks the home is on the market.  If a home seller priced their home too high to get a offer during that time period, they likely will have to take less then they would have gotten if they had priced right to start with.  To sum this whole paragraph up, homes that have been on the market for 70 or more days equal you can get them for a bargain or the home will not sell.

Madison New Jersey home buyers and sellers, time to get going. 

I James Boyer Madison NJ REALTOR, specialize in the Madison New Jersey Real Estate Market.  If you are looking to buy or sell in or around Madison New Jersey, give James Boyer REALTOR, a call 973.647.0253 for service & knolledge above and beyond.

James Boyer

NJ Realtor Associate

RE/MAX Properties Unlimited

One Madison Ave

Morristown, NJ 07960
Madison NJ Realtor 

973-647-0253 (Direct)

973-539-6300 (Office)

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: