Middlesex County NJ Market Commentary - September 2009 Part 2
This Middlesex County NJ market commentary for the month of September is based on Middlesex County NJ real estate statistics.
Middlesex County NJ Market Commentary - September 2009 Part 1
Days of Inventory (DOI) has decreased over 3% versus August mostly due to the decrease in new homes listed. At 219 days, it means it would take about 7 months to sell all existing inventory at the same absorption rate. A market with over 6 months supply would usually qualify as a buyer's market. A market with less than 6 months of supply would usually qualify as a seller's market. This decrease is very important to note as DOI is an important variable in the monitoring of local real estate markets and our real estate barometer.
Both median and average sold prices have decreased versus last month and have decreased versus last year (-7.14% and -13.24% respectively) confirming the yearly downtrend.
SP/AP ratio is decreasing one point at 94%. In average, sellers are accepting offers at 94% of their last asking price. Please note that I mentioned "last asking price" and not "original asking price" which is very different. As a general rule, houses that sell are houses that are very close to their current market value as calculated through a Comparative Market Analysis.
Another real estate statistic is Days on Market or DOM which has increased almost 7% up to 78 days. Meaning that it takes less than 3 months in average to go under contract. A word of caution with this indicator as it is not a cumulative DOM. Meaning the clock re-starts with any new contract for the same home. This is a good example of the better value of looking at those statistics, which is more in the trend analysis than in a specific number at a specific given time
Catherine "Cathy" Chaudemanche
Keller Williams Elite Realty / Middlesex County market center.
Middlesex County NJ Market Commentary - September 2009 Part1
This Middlesex County NJ market commentary for the month of September is based on Middlesex County NJ real estate statistics.
For Middlesex County, the number of new homes listed in September has slightly decreased compare to new homes listed in August. At 653 homes, it is lower than the average year to date of 679 homes listed per month. This is very positive for Middlesex County real estate market in general as we need to reduce the inventory to move into a more balanced / neutral market.
The Active Inventory as we follow it (homes for sale not including "under attorney reviews") has slightly decreased to 2545 homes for sale in Middlesex County following a high in April with 2874 homes for sale. The AI has been consistently decreasing since April.
This month's absorption rate (350) or number of sold homes has decreased 4.9% versus last month. It is well over last year absorption rate (+12.54%) indicating that the tax credit incentive ending in November is working as expected. Buyers are definitely profiting from the grants, incentives available and the overall homes prices decrease.
I will post Middlesex County NJ market commentary Part 2 tomorrow...
Catherine "Cathy" Chaudemanche
Keller Williams Elite Realty / Middlesex County market center.
Metuchen condos for salein Metuchen NJ. North Edison Real Estatein Edison, Middlesex County and Piscataway Condos for Sale. Local real estate websites for your local needs. Servicing first time home buyers, investors and sellers in Middlesex County, New Jersey.
Middlesex County NJ Real Estate Statistics
Those Middlesex County NJ real estate statistics include residential one family only. They do not include townhouses, condos, co-ops, multi-family, commercial properties, etc...Home statistics are calculated from the Middlesex County Multi Listing System (MLS)
| Middlesex County NJ Real Estate Statistics | September 2009* | Previous Month** | September 2008 |
| Active Inventory | 2545 | 2675 (-4.86%) | 3097 (-17.82%) |
| New Homes Listed | 653 | 675 (-3.26%) | 726 (-10.05%) |
| Sold Homes | 350 | 368 (-4.90%) | 311 (12.54%) |
| Median Sold Price (MSP) | $325,000 | $330,000 (-1.51%) | $350,000 (-7.14%) |
| Average Sold Price (ASP) | $346,860 | $356,631 (-2.74%) | $399,809 (-13.24%) |
| Sold Price/Asking Price (SP/AP) | 94.00% | 95% (-1.05%) | 95% (-1.05%) |
| Days on Market (DOM) | 78 | 73 (6.85%) | 83 (-6.02%) |
| Days of Inventory (DOI) | 219 | 226 (-3.10%) | 299 (-26.76%) |
*Middlesex County Real Estate Statistics Calculated on 10/11/2009 **Calculated on 09/12/2009
Click on the following link for more Middlesex County NJ Real Estate Statistics, including Sold Home Ratio, 100% Asking Price and more...
Catherine "Cathy" Chaudemanche
Keller Williams Elite Realty / Middlesex County market center.
Metuchen condos for sale in Metuchen NJ. North Edison Real Estate in Edison, Middlesex County and Piscataway Condos for Sale. Local real estate websites for your local needs. Servicing first time home buyers, investors and sellers in Middlesex County, New Jersey.
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Your Metuchen Homes for Sale? There's Still Hope!
Some who have put their Metuchen homes for sale in the past year are still waiting to put that "Sold" sign in the yard. If this is you, don't panic! There's still hope for closing the sale this year.
According to the National Association of REALTORS®, home sales have risen five months in a row. Great news for everyone currently in the real estate market. Why are they rising? A few reasons:
Here are a few tips to help you get your Metuchen home sold before the year is up:
Lastly, don't give up hope! You have great Metuchen homes or Metuchen Condos to sell and buyers are looking. Do your best, listen to your agent and stay relaxed.
If you're ready to sell your Metuchen home, I can help. Contact me now!!
Cathy Chaudemanche
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Real estate is local. Where do you get your information from? Middlesex County, New Jersey Real Estate Statistics and Market Commentary: http://www.yourhousefast.com/housing-analysis.asp
Servicing Home Buyers & Sellers in Edison, Metuchen, Piscataway, Iselin, Woodbridge, Fords, New-Brunswick, Brunswicks, Colonia, South Plainfield...and greater Middlesex County in Central Jersey.
View Middlesex County, New Jersey in a larger map
First time home buyers in Middlesex County NJ, are you familiar with local down payment programs, grants, seller’s concessions and incentives? What you don't know can cost you. Register Now to set-up your very own workshop tutorial at no cost or obligation.
Edison Real Estate - Edison Homes for Sale - Edison Townhouses for Sale - Edison Condos for Sale
Edison Real Estate within the Edison Township in New Jersey includes North Edison, South Edison and Clara Barton. It is a very dynamic Real Estate market and for good reasons.
- In 2009, Edison was ranked as one of "America's 10 Best Places to Grow Up" out of 2000 places by U.S.News & World Report. The ranking focused on low crime, strong school system, expansive green spaces, and abundance of fun recreational activities and family events.
- In 2008, Edison was ranked 35 out of the top 100 places to live in the US by Money Magazine.
Edison Real Estate offers Edison Homes for Sale, Edison Townhouses for Sale and also many Edison Condos for Sale. Whether you are looking for one bedroom condo or 5 bedrooms mansion, Edison Real Estate has it all...
Search Edison Homes for Sale, Condos and Townhouses directly
from the Middlesex County Multi Listing System.
North Edison Real Estate is located within the northern part of the city of Edison. It is bordered on the south by Metuchen, on the north by Scotch Plain, on the west by South Plainfield and on the east by Woodbridge . North Edison NJ zip code is 08820.
North Edison Real Estate or 08820 Real Estate include North Edison Homes for Sale and many condominium developments offering many beautiful North Edison Condos for Sale and Townhouses.
The following condos developments are located within North Edison 08820: Dogwood Meadows, Enclave, Grande Woods, Heatherwood, Maples, Park Gate, Pumptown Corners, The Oaks, Timberline, Village Gate, Village Pointe, Westgate.
Find your Edison Home's Value at no cost or obligation.
Generate weekly Edison Real Estate market
reports right to your email account.
Clara Barton in Edison is where I live. Clara Barton Real Estate is mostly residential and is located along Amboy Avenue. Most of it includes single family Clara Barton Homes for Sale. Clara Barton Real Estate is conveniently located, close to the Metuchen train station and major highways (I 287, New Jersey Turnpike, Garden State Parkway, Route 1, 9, 27,440...).
Who you give your referral to directly reflects on you. I'll invite you to read below the Testimonials section what previous clients are saying about my services. If you believe we can help each other please contact me.
For listing's referrals, I cover Middlesex County (Edison, Piscataway, Metuchen, Woodbridge, Fords, Iselin, Brunswicks...) New Jersey only.
For buyer's referrals, I cover central New Jersey.
Also I'll invite you to add me as an associate using the "Add as Associate" feature. Upon receipt of the Active Rain automated request, I will make sure to add you in the appropriate *YourState* Real Estate Agents link on the left side. We are in business to network, are we not? So make it happen!!!
-Cathy C.
Testimonials and recognition from clients, the media, peers and the general public speak louder than anything I could say about myself or my services... would you not agree?
Featured in the Home News Tribune
Featured in New Jersey Realtor
Featured source in the New York Times
Clients:
"We found Cathy after having a terrible experience with our previous listing agent. There was a 180 degree difference in terms of communication, marketing expertise, and overall professionalism. She did an excellent job of presenting our property and following up with interested parties. After receiving no offers in 4 months when our townhouse was listed with the old agent -- we received an offer just $7K less than our list price -- within 1 month of signing on with Cathy. This is most impressive in this continued "buyers' market."
First-time home sellers shouldn't underestimate the importance of the listing agent in selling their property. We have no doubt that, had Cathy been our agent from the get-go, we'd have sold much more quickly and received a higher offer. She's knowledgeable about the real estate market and comfortable with using the Internet in conjunction with conventional marketing practices to feature your property. We've recommended Cathy to numerous people and wouldn't hesitate to use her services again." - Jyothi D.
"...Cathy overall was a blessing and we would use her again." - Ella F.
"... we had results [with Cathy] which we did not have with our previous agent." - Nausheen H.
"Cathy is the hardest working real estate agent we have met. She is very knowledgeable about the market value and works efficiently to get things done without burdening us with any problems. She has great follow up skills and is willing to go above and beyond what a real estate agent's job description is. We would hire Cathy again if we were to sell or buy another home in the future." - Kaylin C.
"It is my first house and as a first time buyer I had a lot of questions. She [Cathy] answered all my queries. She also gave me a lot of good advice ...She has also helped me a lot after the closing of the house." - Sunil J.
"I just wanted to thank you for your time [Cathy] in helping us find the right home for our family. We are moving in on Thursday and are extremely excited about the house. Good luck to you and thanks again." - Ronica S.
"A simple, heartfelt "thank you" from someone very grateful...Thank You" - John C.
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General Public and Peers:
"...Professional, Thoughtful and Rewarding "First Time Home Buyer Program" Barbara Ascolese and Cathy Chaudemanche could not have prepared a better night for ALL..."- Judie C.
"I really love your website. I think you have the most informative website any realtor has. Awesome job!" - Mary M.
"Thanks [Cathy] for your useful and unselfish help." - Tim K.
"Cathy - This is exactly why you are getting the business that no one else is. You are actually supplying information that people can use." - Todd C.
"...I am so glad that I found your website when I did. I think that your program the other evening was quite superb. It was very generous for you all to let the public know about these programs..." - Tikola K.
"Cathy,
This is terrific info. We need to get this kind of data in front of all buyers. We all know that today's buyers are the most sophisticated than ever before. Data like this that you've carefully spelled out in detail is much more compelling to buyers than what NAR puts out in press releases. I'll be using it myself. Hopefully other agents will do the same. Thanks again for this info!" - Pete M.
"Hi Cathy, Steve from Top Producer here, I just stumbled on your website and wanted to tell you....nice job! Great info and a lot of it..." - Steve P.
Catherine "Cathy" Chaudemanche Team
Full-Time, Informed & Involved
Realtor Associate/Keller Williams Elite Realty
Metuchen, New Jersey
Servicing Home Buyers and Sellers in Greater Middlesex County, Central Jersey
http://www.YourHouseFast.com
Accomplished businesswoman and real estate agent/Realtor. Member of the Middlesex County and Garden State multiple listings systems. Also member of the National Association of Realtors , New Jersey Association of Realtors, Middlesex County Association of Realtors and the Woman's Council of Realtors. Recipient of several certifications and awards.
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