Chatham NJ Real Estate Market Update

Chatham NJ Real Estate Market Update

This charming little town of Chatham is really two towns - Chatham Borough and Chatham Township. Although the towns each have their own municipal offices, police dept, etc., they share the top notch School District of the Chathams! This prized school system attracts families from all over to take advantage of a great education. Of course, the charming village center, tree-lined streets and friendly neighborhoods all play their part as well.

As a long-time resident and homeowner in Chatham NJ, first in Chatham Borough, now in Chatham Twp, I am keenly aware and interested in our real estate market.

Find Homes for Sale in Chatham NJ

Chatham Boro Mid Year Real Estate Update and Comparison

In the first half of 2010, 57 homes were sold in Chatham Boro at an average sales price of $743,710. Average days on market 46 and sale to list price ratio was 98%.

In the first half of 2011, 51 homes were sold in Chatham Boro with an average sales price of $713,216. Average days on market 50 and sale to list price ratio was 99%.

Chatham Township Mid Year Real Estate Update and Comparison

In the first half of 2010, 69 homes were sold in Chatham Twp at an average sales price of $779,897. Average days on market 81 and sale to list price ratio was 97%.

In the first half of 2011, 72 homes were sold in Chatham Twp with an average sales price of $874,773. Average days on market 77 and sale to list price ratio was 96%.

Trends for real estate in the Chathams NJ

Our towns, neighborhoods and homes are still very desirable. However, worldwide and national economic conditions continue to put downward pressure on home values. Thankfully, the pressure is relatively minimal and it is still painful for homeowners.
Chatham Twp average price is higher not because home values are up but because there were several more high end homes selling in 2011 than in 2010. In fact, more than double the number!

Now, more than ever, correct pricing is critical to obtaining the highest net value for your Chatham NJ home. In fact, we are still seeing multiple offers and selling prices that are higher than asking prices.

Wondering what your home would sell for in today's market?

Contact me at 201.960.2090 or visit my website for more information my automated Home Value Estimator.

Chatham NJ Real Estate Market Update