Bob Zorechak - Sells Homes in Morris/ Somerset/Hunterdon Cos., NJ 908-267-2465

Mendham NJ Real Estate 2011 Annual Market Report Mendham Township

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Mendham Township NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Mendham Township NJ real estate market. If you are considering buying and or selling a home in 2012 in Mendham Township NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local! Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

As you can see from the chart above the volume of Listings in Mendham Township have been holding steady over the past 5 years with Closed Sales gradually increasing over the past 2 years. On a positive note, inventory has decreased significantly by 34% from this same time last year down from 22 to 14.6 months, which is a big step in the right direction. Ideally, the inventory level should be between 5 and 6 months in order to be considered a "balanced" or normal market where neither Buyers or Sellers have any distinct advantages over one another. Anything above this level is considered to be a Buyer's market and anything below would be a Seller's market.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take approximately 14 1/2 months to sell all of Mendham Township's current inventory.

This data indicates that the real estate market in Mendham Township is currently providing Buyers with the advantage, and should remain this way at least for the short term.

The chart above indicates a steadily declining level in the Average Sale Price of homes in Mendham Township NJ over the past 5 years in particular with highs of $1.2M down to $885K in 2011.

Based on the high amount of standing inventory, I would expect to see prices in Mendham Township continue to drop in 2012.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Mendham Township 2011 Annual Market Report:

Mendham Township 2011 Annual Market Report

For more information on Mendham Township including the school system, follow this link:

All you need to know about Mendham Township NJ

Mendham NJ Real Estate 2011 Annual Market Report Mendham Borough

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Mendham Borough NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Mendham Borough NJ real estate market. If you are considering buying and or selling a home in 2012 in Mendham Borough NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local! Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

As you can see from the chart above the volume of Listings in Mendham Borough have been on a slight downward decline over the past 2 years with Closed Sales maintaining a steady pace over the past 7 years with the exception of 2008.

Inventory has increased moderately by 13% from this same time last year up from 6.8 to 7.7 months, which is not necessarily a step in the right direction. Ideally, the inventory level should be between 5 and 6 months in order to be considered a "balanced" or normal market where neither Buyers or Sellers have any distinct advantages over one another. Anything above this level is considered to be a Buyer's market and anything below would be a Seller's market.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take a little more than 7 1/2 months to sell all of Mendham Borough's current inventory.

By most accounts, this data indicates that the real estate market in Mendham Borough is currently providing Buyers with the advantage, and should remain this way at least for the short term.

The chart above indicates a somewhat steady level in the Sale Price of homes in Mendham Borough NJ over the past 4 years in particular with a range from $700K to $775K. Based on the reasonable and consistent pace of Closed Sales, it is apparent that sellers are pricing their homes fairly close to true market value. Based on the current trend of increasing inventory, I would expect to see prices in Mendham Borough remain flat or rise slightly in 2012.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Mendham Borough 2011 Annual Market Report:

Mendham Borough 2011 Annual Market Report

For more information on Mendham Borough including the school system, follow this link:

All you need to know about Mendham Borough NJ

Chatham NJ Real Estate 2011 Annual Market Report Chatham Township

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Chatham Township NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Chatham Township NJ real estate market. If you are considering buying and or selling a home in 2012 in Chatham Township NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local! Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

As you can see from the chart above the volume of Listings in Chatham Township have been relatively steady over the past 4 years with a high of 285 and a low of 253 homes listed on a year to year basis. In addition, Closed Sales have risen for the past 3 consecutive years.

Inventory has decreased significantly by 38% from this same time last year down from 9 months to 5.6 months. This decrease represents a big shift from a strong "Buyer's" market to what is referred to as a "Balanced" or normal market, leaving both Buyers and Sellers on a more level playing field. This is a key indicator and a very positive sign for the Chatham Township real estate market, once again proving the point that all real estate is LOCAL.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take a approximately 5 1/2 months to sell all of Chatham Township's current inventory.

By all accounts, this data indicates that the real estate market in Chatham Township is extremely robust and thriving, and should remain this way at least for the short term.

The chart above indicates a somewhat steady level in the Sale Price of homes in Chatham Township NJ over the past 3 years in particular from about the low to high $800's.

Based on the reasonable and consistent pace of Closed Sales, it is apparent that sellers are pricing their homes pretty close to true market value.

With the current trend of declining inventory, I would expect to see prices in Chatham Township begin to edge up in 2012.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Chatham Township 2011 Annual Market Report:

Chatham Township 2011 Annual Market Report

For more information on Chatham Township including the school system, follow this link:

All you need to know about Chatham Township NJ

Chatham NJ Real Estate 2011 Annual Market Report Chatham Borough

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Chatham Borough NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Chatham Borough NJ real estate market. If you are considering buying and or selling a home in 2012 in Chatham Borough NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local! Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

As you can see from the chart above the volume of Listings in Chatham Borough have been on a downward decline over the past several years with Closed Sales maintaining a steady pace.

Inventory has decreased slightly by 6% from this same time last year down from an already low 4.5 to 4.2 months, which is considered to be a "Seller's" market. This type of market is quite unusual, given the regional and national state of the market where many areas remain in a strong "Buyer's" market environment, once again proving the point that all real estate is LOCAL.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take a little more than 5 months to sell all of Chatham Borough's current inventory.

By all accounts, this data indicates that the real estate market in Chatham Borough is extremely robust and thriving, and should remain this way at least for the short term.

The chart above indicates a somewhat steady level in the Sale Price of homes in Chatham Borough NJ over the past 4 years in particular from about $800K to the the high $600's. Based on the reasonable and consistent pace of Closed Sales, it is apparent that sellers are pricing their homes pretty close to true market value.

Based on the current trend of declining inventory, I would expect to see prices in Chatham Borough begin to edge up in 2012.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Chatham Borough 2011 Annual Market Report:

Chatham Borough 2011 Annual Market Report

For more information on Chatham Borough including the school system, follow this link:

All you need to know about Chatham Borough NJ

Madison NJ Real Estate 2011 Annual Market Report

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Madison NJ through 2011 in addition to a look back at the years in between to 2005. See what the trends are indicating and what is next for the Madison NJ real estate market. If you are considering buying and or selling a home in 2012 in Madison NJ, this valuable annual market report is an absolute must read.

Attention... all residential real estate is local!Not everything you read about online, in the papers and hear through major media outlets about the housing market is correct or relevant, especially when information is presented on a "national" or "regional" basis. There are many factors that make up the differences in local real estate markets, even from town to town and especially in a state like New Jersey with its inordinate amount of municipalities making it a challenge for some to drill down and obtain the correct market value of any given home. This is why it is important for both buyers and sellers to start with the latest "local" market data before they make any real estate decisions.

As you can see from the chart above the volume of Listings in Madison have declined steadily over the past 4 years. Inventory has decreased slightly by 6% from this same time last year down from 5.3 to 5 months, which is bordering on moving from a "balanced" or normal market into what is referred to as a "seller's" market. This would be quite unusual, given the regional and national state of the market where many areas remain in a strong "buyer's" market environment, once again proving the point that all real estate is LOCAL.

Simply stated, "inventory" represents the number of homes currently available or For Sale in a given market, or in this case a specific town. This means that with all things remaining equal, at the current rate of sales, it will take approximately 5 months to sell all of Madison's current inventory. By all accounts, this data indicates that the real estate market in Madison is extremely robust and thriving, and should remain this way at least for the short term.

The chart above indicates a somewhat steady level in the Sale Price of homes in Madison NJ over the past 4 years in particular from the high $700's to the mid $600's.

Based on the reasonable and consistent pace of Closed Sales, it is apparent that sellers are pricing their homes not far off from true market value. Based on the current trend of declining inventory, I would expect to see prices in Madison begin to edge up in 2012.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Madison 2011 Annual Market Report:

Madison 2011 Annual Market Report

For more information on Madison including the school system, follow this link:

All you need to know about Madison NJ