February 2016 Real Estate Market Update

9bec59396e20c718e6e7_Nancy.jpg
Nancy Kronheimer is a Realtor with Weichert, Realtors, in Westfield.
9bec59396e20c718e6e7_Nancy.jpg

The Westfield real estate market is heating up. Seventy nine houses were listed since Jan. 1, 2016, and of those, nearly 30 percent are under contract, in attorney review or have already closed on the sale. This is great news!

In a study recently released by the National Association of REALTORS, titled the “2015 Profile of Home Buyers and Sellers”, it highlighted an emerging trend of more home buyers trading up to larger homes. Over the past two years, home values have increased and people now have more equity when selling their current home to buy a larger one.  Taking advantage of this are Generation X-ers, 35-50 year olds, who need more space as their families have grown.  Millennials, 34 and younger, are right behind them, seizing the opportunity of becoming a first time home buyer.

This trend is happening right here in Westfield. With New York City only about 25 miles away, buyers are drawn to the area because of its proximity to the city, public transportation, easy access to major highways, great schools, wonderful downtown and a strong community spirit. If you are thinking about selling, now is the perfect time to list your home. Inventory levels are low and there are lots of motivated, qualified buyers searching listings every day.

WESTFIELD LISTING INVENTORY

PRICE RANGE  

# OF AVAILABLE PROPERTIES AS OF 2/11/16

# OF HOUSES UNDER CONTRACT AS OF 2/11/16

$249,999-349,999

6

6

$350,000-449,999

2

5

$450,000-549,999

6

1

$550,000-649,999

12

6

$650,000-749,999

10

4

$750,000-849,999

9

5

$850,000-949,999

8

11

$950,000-999,999

7

1

$1,000,000-1,099,999

6

2

$1,100,000-1,199,999

11

6

$1,200,000-1,299,999

12

3

$1,300,000-1,399,999

9

3

$1,400,000-1,499,999

8

0

$1,500,001-1,599,999

3

0

$1,600,000-1,700,000

6

0

$1,700,000-1,799,999

4

1

$1,800,000-1,899,999

2

1

$1,900,000-1,999,999

2

1

$2,000,000-2,499,999

2

0

$2,500,000-2,999,999

1

0

$3,000,000-3,999,999

1

0

$4,000,000-5,000,000

1

0

 

Nancy Kronheimer is a Realtor with Weichert, Realtors, 185 Elm Street, Westfield, NJ 07090, and a Top Producer in the Westfield office since 1998. Weichert.com receives over 3 million hits/day and Nancy has lead her region in internet sales.  She has been voted by her clients as a Five Star Real Estate Professional for Overall Customer Satisfaction five years in a row. Other awards include NJAR Circle of Excellence 2003-2010, 2013-2014, and distinguished member of the Weichert Ambassador’s Club – Top 2% of the Company’s Sales Associates.

Nancy’s marketing philosophy is to offer full service to everyone as she’s not only a Realtor but a Professional Business Owner.

Nancy is happy to assist with a home sale, purchase, relocation or rental. Referrals from clients, friends and others are always appreciated. You can reach Nancy at her Weichert office at 908-654-7777, ext. 123 or directly at 908-347-8142 or NKronheimer@weichert.com.

Visit her website at http://www.NJPerfectHome.com/home.asp. To like her on Facebook, click here.

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

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