Fanwood's residential listings were down by 24% in August 2008 by comparison to last year. The listing price was down by 4%, with an average of $457,665. New listings were also down by27% with an average price of $465,291.
Homes under contract and scheduled to close were also down by nearly 14%, with an average price of $460,100. However, closings for the month were up 8%, with an average sales price of $431,393.
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Bill specializes in residential and income producing new construction, resales, short sales and foreclosure properties in Union, Essex, Somerset and Middlesex counties.
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William I hope the closing trend continued. In my area the invntory to sales ratio is wide .
Jennifer,
Thanks for stopping by. There are areas within the state that are seeing strides in sales and others that still lag. Most of the variance has to do with location and proximity to job centers.
Thanks for the interesting information.