How's the Condo Market in Edgewater NJ? Condo Market Activity for November 2011

How's the Condo Market in Edgewater NJ? Condo Market Activity for November 2011

This report pertains exclusively to the Edgewater NJ condo & townhome market.

In total for the month, there were 9 condos SOLD with an Average List Price of $562,889 and an Average Sold Price of $519,256.

The average sold price as a percentage of the original list price being 92.25%. This compares the dollar amount of the eventual sale to the amount at which the condos were originally listed & offered for sale.

The average Days On Market was 148 days. This counts the # of days from the original listing date until a condo is designated under contract. "Days On Market" can be a misleading statistic in which one might assume all condos considered were actually "on the market" (priced correctly) to begin with. We know that, many times, this is simply not the case.

Correct pricing is a very key ingredient in effective real estate marketing leading to a sale with the best possible results. If all properties were originally priced on the market & marketed correctly, the sold price-to-list price ratios would always be far closer to 100%.

Obviously, this is usually not the case. This underscores the necessity for sellers to do a little homework prior to hiring an agent or broker to list & market what is most likely their largest asset.

(In the next report, I'll examine market liquidity. Liquidity has nothing to do with pricing trends, up or down. Rather, it examines the likelihood in %'s of a sale actually occuring. Stop back or subscribe!)

 I invite you to take a look at the VIDEOS in... 

 How to Sell Your Edgewater NJ Condo & Get The Best Results

 I'm sure you'll find the videos both interesting & informative!

 

 Presently, there are 128 Current Actives (condos listed for sale).

  Click to see current Edgewater NJ Condos & Townhomes for Sale

Listing Status	Total	Total List/Sale Dollars	Average List Price	Average Sold Price	Median Sold Price	Sale Price/ List Price*	Avg DOM
Sold	9	$ 4,673,300	$ 562,889	$ 519,256	$ 515,000	92.248	148
Co-Broker	8	$ 4,243,300	$ 570,875	$ 530,413	$ 545,000	92.912	149
List/Sold	1	$ 430,000	$ 499,000	$ 430,000	$ 430,000	86.172	136
New	12	$ 5,425,000	$ 452,083
Under Contract	11	$ 5,929,700	$ 539,064				87
Withdrawn	8	$ 3,745,000	$ 468,125				158
Expired	10	$ 6,067,007	$ 606,701				238
Back on Market	4	$ 1,937,000	$ 484,250				225
Extended	9	$ 7,943,000	$ 882,556				163
Current Active	128	$ 74,653,374	$ 583,229

Information deemed reliable but not guaranteed. New Jersey MLS, Inc 2011

 

       I'm Brian Morgenweck, REALTOR®

   & Broker/Owner of POWER Realty Group.

                
 I designed the Jersey Condo Scene system

 to get you the best results when selling your

   condo or townhome. Connect with me at

                 (201)489-3020

   or email Brian@TheJerseyScene.com

 

I'm here to help.

 

 Again, I invite you to take a look at...

 How to Sell Your Edgewater NJ Condo & Get The Best Results

 

Information leads to knowledge... Knowledge with action creates POWER!

 

How's the Condo Market in Edgewater NJ? Condo Market Activity for November 2011