LAKE HOPATCONG BOROUGH AREA MARKET REPORT FOR JANUARY 2008

LAKE HOPATCONG AREA MARKET REPORT FOR JANUARY 2008

DURING THE MONTH OF JANUARY 2008 THERE WERE 40 NEWLY MARKETED PROPERTIES WITH AND AVERAGE ASKING PRICE OF $300,737.00

The least expensive property was listed with an asking price of $100,000.00 a three room ranch with one bedroom and one bath. There are still properties available in New Jersey for the first time home buyer!

The most expensive home listed was an expanded ranch style home with 11 rooms 3 bedrooms and 2 baths with an asking price of $699,900.00.

Six properties went Under Contract with an average asking price of $221,583.00 and had been on the market for an average of 50 days!

Sixteen properties closed title with an average asking price of $263,675.00 and an average SOLD PRICE of $257,518.00 this represents a 97.66% List to Sold Ratio!! Outstanding!!!

Twelve properties were withdrawn from the market with an average asking price of $336,975.00.

Twenty-Three properties expired from the market with an average asking price of $378,530.00, this is a big difference between actual asking Vs. actual sold!!

Lake Hopatcong Borough is a great area for the outdoor sports minded individual with kids, the lake offers motor boating and is New Jersey's largest lake. Picatinny Arsenal is close by for the who work for the military as well as Route 80 for the commuter into NYC. Homes range from the first time home buyer to the move up buyer and everywhere in between.

If you are considering making the move to Lake Hopatcong give me a call, I'll find you the best deal available for you and your family.

If you are considering selling your property call me and I'll show you how your property compares to the local market and get you the highest possible price for your property.