LOOKING AHEAD IN lONG HILL TOWNSHIP

Looking Ahead...

Yes, the average sale price in Long Hill Twp. did decline. However, on a positive note, the number of sales transacted was comparable to that of sales in 2006. There are mixed opinions as to when the market will recover. Housing forecasters are predicting a bottom sometime in the 2nd or 3rd quarter, where as more conservative economists believe the recovery won't be until 2009. In the meantime, Houses Will Continue To Sell In 2008. Statistics have shown us that. And while location, condition and amenities are important elements, Competitive Pricing has been and will remain to be, the major factor to a successful sale.

SINGLE FAMILY 2006 vs. 2007

HOUSES

Number of Sales 65 72

Avg. List Price $687,779 $613,417

Avg. Sale Price $659,560 $590,734

Avg. Days on Market 62 68

% of Change -10.5%

CONDO/TWNH

Number of Sales 22 13

Avg. List Price $418,945 $405,476

Avg. Sale Price $405,609 $385,769

Avg. Days on Market 56 56

% of Change -5%