Madison, NJ

Madison NJ Real Estate 2011 Annual Market Report

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Madison NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Madison NJ real estate market. If you are considering buying and or selling a home in 2012 in Madison NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local!Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

As you can see from the chart above the volume of Listings in Madison have declined steadily over the past 4 years. Inventory has decreased slightly by 6% from this same time last year down from 5.3 to 5 months, which is bordering on moving from a "balanced" or normal market into what is referred to as a "seller's" market. This would be quite unusual, given the regional and national state of the market where many areas remain in a strong "buyer's" market environment, once again proving the point that all real estate is LOCAL.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take approximately 5 months to sell all of Madison's current inventory. By all accounts, this data indicates that the real estate market in Madison is extremely robust and thriving, and should remain this way at least for the short term.

The chart above indicates a somewhat steady level in the Sale Price of homes in Madison NJ over the past 4 years in particular from the high $700's to the mid $600's.

Based on the reasonable and consistent pace of Closed Sales, it is apparent that sellers are pricing their homes not far off from true market value. Based on the current trend of declining inventory, I would expect to see prices in Madison begin to edge up in 2012.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Madison 2011 Annual Market Report:

Madison 2011 Annual Market Report

For more information on Madison including the school system, follow this link:

All you need to know about Madison NJ

Home for Sale By Owner in Madison Boro, NJ 07940 - Flat Fee MLS Listing $395

11 Loantaka Ter Madison Boro, NJ 07940 - Realtors welcome, buyer agent commission paid at MLS# 2889919.

5 Beds 5 Baths

Carbon Monoxide Detector, Central Vacuum, Dishwasher, Disposal, Dryer, Kitchen Exhaust Fan, Microwave Oven, Range/Oven-Gas, Refrigerator, Sump Pump, Center Island, Eat-In Kitchen, Pantry, Separate Dining Area, Carpeting, Tile Floor, Wood Floor, Walk-In Closet, Basement Level Rooms: Inside Entrance, Utility Room, First Level Rooms: Breakfast Room, Dining Room, Entrance Vestibule, Family Room, Kitchen, Living Room, Pantry, Powder Room, Second Level Rooms: 4 Or More Bedrooms, Bath Main, Bath(s) Other, Third Level Rooms: 1 Bedroom, Bath(s) Other, Den, Master Bath Features: Stall Shower And Tub, Second Bedroom is: 15x15, Third Bedroom is: 13x11, Fourth Bedroom is: 13x10, Recreational Room is 12x14

If you are interested in this Home for Sale By Owner in Madison Boro, NJ 07940- Flat Fee MLS Listing $395, please call 1-888-362-6543, enter the MLS# 2889919. . You can make an appointment or ask any questions about the property. Realtors welcome, buyer commission is paid to any realtor. Please see additional listing details at Realtor.com featured by Realmart Realty.

If you have a Home for Sale in Madison Boro, NJ 07940 and would like save up to 6% commission, we can list your home on the local MLS and Realtor.com for a low flat fee of $395. For more information please read the FAQ on Home for Sale By Owner in Madison Boro, NJ 07940- Flat Fee MLS Listing. You will get the maximum exposure of the local MLS, in which thousands of local realtors will help you sell your home. You also reserve the right to sell your home by owner and pay no commission at all.

Please contact Realmart Realty for our texting special. All new orders will receive a free sign with Texting Service where buyers can get full listing details on their mobile phones instantly. Offers ends 05/30/2011, call now for more information about Homes for Sale By Owner in Madison Boro, NJ 07940- Flat Fee MLS Listing $395.

Are you buying a home in Madison Boro, NJ 07940 We will give you up to 2% of the purchase price of the property at closing if you choose to work with us. This is for all homes that are listed on the MLS. For more information, please read the Buying tips and FAQS.

Jack Yao - Realmart Realty info@realmartrealty.com, 732-727-2285

YES IT'S TRUE! The state of New Jersey allows REBATES for homebuyers. This is CASH in your pocket at the closing table. For more information on the rebate program, please read the New Jersey Law. This is not a government rebate. Please consult a tax professional about the rebate. In New Jersey commissions are negotiable.

Luxury Home Sold in Madison NJ

Trish Giassa and Keller Williams Realty are proud to announce the listing and sale of an extraordinary home at
40 Dellwood Drive in Madison NJ.

When we listed this beautiful Madison home for sale, we were sure to showcase it to its very best advantage, including:

• staging techniques
• utilizing the services of a professional photographer Free Home Valuation
• creating an interactive floor plan
• virtual tour
• video Find your home on MLS
• timing strategies
• on target pricing
• strategic online and local marketing Madison Real Estate Market Report

The result was 4 offers!

During a tough market when many other homes just sit for months and months, our sellers were able to choose the best buyer, price and terms for their home.

Contact me to find out what I do to get homes sold today. I will help you prepare and stage your home so that you will not only sell your home fast, I will sell your home for top market value.

Tough market? Not with the right agent.
Luxury Home Sold in Madison NJ

Madison NJ Real Estate Market Update Search for Madison NJ homes for sale

Madison NJ is in the top 40 Places to Live according to NJ Monthly Magazine. With 15,845 residents, Madison is a very desirable and popular with families and New York commuters who prize a good public school system and a friendly community.

In the last 12 months 127 homes have sold in Madison, compared to 159 in the prior 12 months. That is 25% fewer sales than last year.

There is more to this story, however. View Madison NJ's demographic data

We have less inventory in Madison this year. Last year at this time, there were 75 homes for sale, now only 56. That's a corresponding drop of 25% in inventory of homes in Madison NJ.

Those who don't have to move, are not. Less inventory, fewer sales.

• 55 homes are for sale in Madison NJ from a low of $249,000 to high of $2,795,000 for a new home at 80 Noe Ave (2832923)
• 15 Madison NJ homes are currently under contract
• 127 homes sold in the last 12 months, from the low of $185,000 to a high of $2.5 million for a magnificent home at 241 Woodland Road 2834250
• The average sales price for homes in Madison that have sold in the last 12 months is $678,697
• The median sale price of homes in Madison NJ is $527,000
• Number of days on market for Madison NJ homes is 92 days
• The sale price to list price ratio for Madison NJ homes is 95.7% of list price
• $87,000,000 is the total dollar volume of sales in the last 12 months

Interested in more information about Madison's homes for sale, neighborhoods and schools? Call or email me. If you'd like to search for Madison NJ area homes like an agent, go to my website and search the MLS at your convenience.

Selling a Madison NJ home?
Contact me to find out about my Staging and Marketing Program or get a FREE Home Valuation here.

I am the local Madison, Chatham, Summit, Short Hills, Morristown NJ realtor. I live and work here and look forward to sharing my local knowledge and expertise when you buy a home or sell a home in this wonderful part of New Jersey.

Madison NJ Real Estate Market Update

New to Market: 1 Dellwood Drive, Madison NJ $1,950,000

Stately home on .71 acre on The Hill in Madison NJ. New to market since 1993 - extensive renovations and additions to elegantly combine the charm of yesteryear with the conveniences of today.

Welcome to One Dellwood Drive, Madison NJ. Offered exclusively and proudly at $1,950,000. Serious buyers must see this exceptional home. Enjoy the preview or visit www.OneDellwood.com.

Look at the arched entries, wainscoting and gracious stair ...

To view this home's interactive floor plan and virtual tour visit www.OneDellwood.com. For a private showing appointment contact Trish Giassa at 201.960.2090.

Find your home | What is my home worth? | School and community information

Visit my website for more information about community, school and homes for sale in Madison, Chatham, Millburn-Short Hills, Summit, New Jersey. We are delighted to answer your questions about neighborhoods, new construction, homes for sale and resale value in these towns.

New to Market: 1 Dellwood Drive, Madison NJ $1,950,000