During the month of October, there has been an average of 44 residential homes in total that have gone under contract in eight northern New Jersey towns week-to-week. These towns include Livingston, Maplewood, Millburn/Short Hills, Montclair, Nutley, South Orange, Verona and West Orange.
West Orange ends the month of October 25-31 the way it began, with a bang. This town topped the charts with 11 homes under contract this week alone, beating the other seven area towns: Livingston, Maplewood, Millburn/Short Hills, Montclair, Nutley, South Orange and Verona. Montclair tried to give it a run for its money with nine single-family homes under contract. And Verona, well, this month has Verona trailing behind week after week, never going above three homes under contract in a given week.
These lists only shows when a real estate agent has listed a home as under contract in the Garden State Multiple Listing Service (GSMLS). The homeowner is on track for the house to be sold in the near future. However, there are things that can go awry that causes the house to not be sold. These weekly lists show the current activity in the market and what price point is moving within each town.
View all the homes that have gone under contract in any given week.
Why is all of this important and matter? Because seeing how many homes have gone under contract and in what price range gives you insight into what is happening in the market and how the market is moving. This shows a more accurate trend than what has sold this month. If it sold in October the owner probably received an offer in August or September. The houses that have just gone under contract don't state what price was accepted but does show what price caused a buyer to put in an offer. If your agent knows the market like we do, he or she can give you more information on how much interest a house has received and give a guage on the type of offer that may have been given. All of this tells you more about the pulse of the market today, not just what happened two months ago. We believe an educated consumer is our best client and partner and always look forward to arming you with information you can use. Turn to us when you're ready to win in this marketplace and to take advantage of the market trends for your move.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved