Cranford NJ Market Report

As promised, here is a comparison of the Cranford NJ Real Estate Market for the 12 month periods ending June 2008 compared to June 2007.

As you will see below, and as I have discussed in several blog articles the past few months, and shared on consultations with both buyers and sellers, the prices, inventory levels, and sales activity has remained constant (or flat) in the past year. You will notice an increase in the total number of listings (1464, up from 1343), but there was also an uptick in the number of sales (211 up from 205) and a decrease in the number of new listings (197 down from 216). The average price dropped only $15,000 which amounts to a little over 3%, and probably within the margin of error for any statistical study, thus I called it "flat". Not the awful numbers we have seen in other parts of the country, as the media would have you believe is a nationwide housing collapse. The days on market actually went down by 3 days, and the list to sale price ratio has held firm at 97%

So, did prices go down in Cranford at all??? Yes. It just happened between late 2005, and mid 2006. Since then, the town has stayed steady, based on numbers like these.

So what does this all mean? As I have stated before...If you are selling, price your house right, and hire a solid, professional listing agent. If you are buying make sure your agent does an analysis on the home, and negotiate a fair price, because good homes are selling, and sometimes fast. Just look at these numbers.

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com

The Cranford Chamber is hosting its 6th networking event of the year this Wednesday July 16th at 12:00 noon, at "A Toute Heure" on Centennial Ave. Of course Sean will be there to represent Team Carroll as we grow our referral relationships, and help local Cranford business grow theirs.

For more information, check out our website: www.TeamCarrollNJ.com

Thanks for reading, and happy networking!

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

Here are the raw numbers for Westfield NJ Real Estate for the month ending June 2008

Closed Sales : 41

Average Sales Price: $830,695

Averages Days on Market: 59

List to Sale Price Ratio: 95.1%

This was a brisk month for sales in Westfield, and as you will see when I compare year over year, the market in our local area is still a healthy one for anyone looking to sell a home. PRICE it right, stage it well, market it well with a great Realtor, and you will still sell your home! Buyers, the homes that are priced properly are still ON SALE from the highs of 2005, making now a great time to get into the Westfield market.

For the Cranford numbers Click Here: Cranford NJ Real Estate Report

Thanks for reading!

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com

Happy FRIDAY Cranford!!!

Just a quick observation about inventory levels in Cranford this morning. We have currently 84 homes listed for sale, including those in attorney review. A few months back we had close to 100 listings. This drop in inventory can be attributed to a few things. First, there has been a very active sales market lately in Cranford, thus selling off the properly priced homes quickly. Second, the summer is here, and less sellers seasonally list in the summer, as vacations and preparations for the following school year keep a lot of listings on the sidelines until fall.

Nonetheless, Team Carroll is watching the inventory carefully, and my best advice is that if you see a home you really like, make a competetive offer, because with less inventory and a similar amount of buyers, it could be gone quickly if it is priced properly! Yes, there are still homes for sale that are listed above their market value, and just like a few months back, these will sit on the market until they are in a range that a buyer is willing to pay.

Thanks for reading, and have a great weekend!

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com

Once again, I had the pleasure of meeting a new client through my blog. Team Carroll is pleased to announce its new listing at 18 Springfield Ave, Unit 5G in the Cranford Towers in downtown Cranford, NJ. The full listing will be included in my blog by the weekend, but I wanted to take this time to share with all your bloggers that we can help our clients by posting good relevant local information on our blogs. I also wanted to thank you, the readers, for helping make blogging so much fun, and a great tool to help grow business for Team Carroll.

Thanks for reading!

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com

Here are the raw numbers for Cranford, NJ Real Estate for the Month Ending June 30, 2008.

Average Sales Price: $485,528

Average Days on Market: 44!!!

Average List to Sale Price Ratio: 95.6%

Closed Transactions: 23

There were 10 more closed transactions in June than in May, so as I predicted last month in the May report, the closed sales in June were higher, because the pending sales in May were higher

Check back at the end of next week for my deeper analysis of the numbers, and a yearly comparison, to see how the Cranford NJ market is faring compared to a year ago or even 2 years ago.

Thanks for reading!

Sean Carroll - Realtor, Team Leader

"Team Carroll" - Real Estate Professionals

RE/MAX Classic Group

www.TeamCarrollNJ.com

Another month of real estate is in the books for Cranford, NJ, and that means another round of "What's Happening Out There" in Real Estate will be posted to the blog this week. My goal is to get the June numbers out to you all before this holiday weekend, in case you want to discuss real estate at the family barbecue. :)

On another positive note, I received a call yesterday from someone in Cranford who found me here on Active Rain through reading my blog. I am meeting with her today to discuss possibly listing her condo for sale, and I was thrilled to hear that yet again, blogging proves to be a great way for the consumer to get to know me, and how I do business with Team Carroll.

Check back in a day or so for the new numbers!

Thanks for reading as always.

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com

One of the services we provide at Team Carroll is a business referral directory, that will be going online in the next 3 weeks. Once per month, we will feature a local Cranford NJ area business, and a short description about what they do in our monthly mailings that you've been receiving. This referral directory will be online and available to our clients, and businesses, because we would much rather refer you to quality businesses locally who have been referred to us, than have you open the yellow pages, or google someone, only to not receive excellent service.

Right now, we are pleased to feature Dave Weichert of Magical Travel. For those of you who love Disney, or want to take a Disney Vacation anytime soon, I HIGHLY recommend speaking with Dave, and letting him take the stress out of your vacation planning, and get you a great deal on your Disney Vacation. See below for a detailed description and contact information for Dave. Thanks for reading!

_________________________________________________________________________________________________

Dave Weichert - Disney Vacation Specialist

I'm a Disney Vacation specialist working and living in Cranford. I can meet you to discuss your Disney Vacation or do everything over e-mails. I try to take all of the confusion and stress out of planning your Disney Vacation at no cost.

Just a little about me. I'm a graduate of the College of Disney Knowledge. I have personally stayed at 6 different Disney resorts and have dined at almost every restaurant in Disney World. I can offer advice on trip planning - including where to stay, what to do, where to eat, all tailored to your budget, personal preferences, and the ages of your children (and maybe more important their personal preferences).

I'm a member of CLIA (Cruise Lines International Association), meaning I have taken and continue to take continung education cources on vacation planning and cruising.

I'd like to help plan and book your next Disneyworld, Disneyland, Disney Cruise or Adventures by Disney vacation at the best possible price. Here are some reasons for using my services:

· I give you Disney Dollars for land packages and Shipboard credits for Disney Cruise packages - to be used as cash at any Disney destination or store

· I simplify your life by booking your complete vacation including resort stay, airlines, Disney meal plans, and park passes

· We check DAILY for new discounts. When specials are announced, we immediately check availability and re-book your vacation at the lower price whenever possible.

· I can book all your Disney dining and will do my best to get hard-to-book reservations such as Cinderella's Royal Table

· I'm easy to work with, and will do my best to make sure you are satisfied.

Working with me, you are likely to pay less and get more. There is never a charge for my service. Magical Travel is a full service agency, an authorized Disney Vacation Planner, and a member of all the important-sounding travel associations (IATA, CLIA, OSSN). If you have already booked a trip directly with Disney. Your reservation can be transferred and you will be able to receive Disney Dollars!

Dave Weichert disneydavew@verizon.net 908-709-4199 Let me help you plan your next Disney Vacation or Cruise....ask me how to get free Disney Dollars!

The media would have you believe that NO ONE is buying a home anywhere, and that the sky is not only falling, but falling on your house. So why is it then that properly priced homes are FLYING off the market??? Why????

Because DEMAND is still here in the Cranford NJ area. The demand means that there are still plenty of buyers who want to live here, and need to live here, because of the location, schools, transportation, and all of the other great qualities of our communities. So why then in a supposed "bad market" are buyers getting outbid on homes, and some homes selling in less than a week, including most of our listings we've had this year? Well, even though prices are down from their highs in 2005, there are sellers who are aware of this, and who are pricing their homes properly, and hiring great agents to market them and help stage them. When this happens, you WILL find multiple offers, and you WILL lose out on a house if you don't make a decision quickly, and make a fair offer.

Listen to the advice of your agent, and ask for a market analysis. If the numbers show you that the home you love is priced fairly, or even below market value...DON'T WAIT...because guess what? There are dozens of other buyers out there who saw the same data, and the same house, and who are likely drawing up an offer right now.

Sometimes, a home is overpriced...and if your agent is a good buyer's specialist, they will tell you the truth about that situation, and encourage you to be tougher negotiators.

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com

FORE!!!!!

This Monday, the Cranford NJ Chamber of Commerce will be holding its annual golf outing at Hyatt Hills Golf Club. I will be making my 2008 golf season debut, so if you are in my foresome, please be patient! :)

The Cranford NJ Chamber of Commerce is a great organization where you can network with your fellow professionals, learn about each other's businesses, and just meet some great people! For more information, click on any of the links above.

Sean Carroll - Realtor, Team Leader

"Team Carroll" of RE/MAX Classic Group

www.TeamCarrollNJ.com