Real Estate News You Can Use For May


INVENTORY…INVENTORY…INVENTORY!!!  Where is it??  We have listed 637 properties in our com-munities of Berkeley Heights New Providence, Summit, Chatham Borough, Chatham Twp. and Long Hill Twp   since the 1st of the year.  105 have sold with an average of 15 days on the market and a Sale/List Price of 100.2%.  202 of those listed are under contract with an average of 16 days on market and 330 are active with an average of 37 days on market.  Sunday Open Houses are setting new records with both num-bers and attendance!  Interest rates are still low but may have seen their lowest valley and will be rising…and based on recent activity at local Open Houses…. BUYERS ARE OUT THERE!!!  Homes in good condition and priced  well are selling and multiple offers abound. If you are considering a move in the near future (sometimes it takes a year of planning) let’s talk!!! 

A quick breakdown by town: 

  • Berkeley Heights:  Currently has 60 active properties with 7 being listed over $1mm.  We have 36 properties under contract and 47 sold since January 1st with a Sale/List Price ratio of: 98.3%.
  • New Providence:  Currently has 46 active properties with 7 being listed over $1mm.  We have 34 properties under contract and 29 have sold since January 1st with a Sale/List Price ratio of: 99.1%.
  • Summit:  Currently has 106 active properties with 69 being listed over $1mm.  We have 66 proper-ties under contract and 80 have sold since January 1st with a Sale/List Price ratio of: 98.2%
  • Chatham Borough:  Currently has 32 active properties with 18 being listed over $1mm. We have 29 properties under contract and 44 have sold since January 1st with a Sale/List Price ratio of: 98%
  •  Chatham Township:  Currently has 71 active properties with 51 being listed over $1mm.  We have 45 properties under contract and 47 have sold since January 1st with a Sale/List Price ratio of: 97.1%
  •  Long Hill Township:  Currently has 44 active properties with 4 being listed over $1mm.  We have 20 properties under contract and 27 have sold since January 1st with a Sale/List Price ratio of: 96.8%

If you would like  further information or ‘fast facts’ for other towns, please let me know.  I work to ensure that my sellers and buyers are the best educated in the market and I  hope to work with you.

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Debbie Curley-Reid

Berkshire Hathaway Home Services New Jersey Properties

1260 Springfield Ave., New Providence NJ 0797

Cell:  908-577-0695                     

The opinions expressed herein are the writer's alone, and do not reflect the opinions of or anyone who works for is not responsible for the accuracy of any of the information supplied by the writer.

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