Happily, Real Estate activity in Westfield has not screeched to a halt, as shown by the 38 contracts signed since the 1st of the year. Selling at the current pace, and if no more homes are listed, Westfield would sell out in 8.9 months (absorption rate). That is down from 12 months last fall, though it took some considerable price positioning to get there, as the chart also shows.
Westfield is faring pretty well, because. . .people want to live here!
What separates the dozens of houses sold from the multitude of "on-the-markets?" What makes a seller sincere right now? The successes are prepared, presented and priced in a truly businesslike way.
Location and "move in" are very powerful now, along with value. You can see that houses sold all over the price spectrum, and if you know our town, they sold in a wide variety of locations too. The sellers and agents made honest assessments of the location and size of the houses (historic decisions) and the market preparation (current decisions) and priced what they really had to offer. Many of the houses with long market times, and reductions, sold quickly after they repositioned themselves. In other words they won as soon as they started fishing in the right pond.
If you would like to see the listings and pictures behind the story, please drop me a line. Scott@LuxuryHomesNJ.com
|
STATUS |
NUM |
Street name |
ORIGLIST |
LISTPRICE |
SALEPRICE |
PENDDATE |
LISTDATE |
DOM |
|
S |
902 |
Highland Ave |
1500000 |
1399000 |
1250000 |
1/4/09 |
10/8/08 |
88 |
|
S |
16 |
N Wickom Dr |
375000 |
375000 |
375000 |
1/6/09 |
12/20/08 |
17 |
|
S |
58 |
Summit Court |
529000 |
529000 |
500000 |
1/8/09 |
11/12/08 |
57 |
|
S |
1723 |
Summit Ave |
549900 |
428900 |
400000 |
1/9/09 |
10/1/08 |
100 |
|
UC |
1321 |
Pine Grove Ave |
469900 |
399900 |
1/9/09 |
10/9/08 |
92 |
|
|
S |
808 |
Lawrence Ave |
2995000 |
2799500 |
2600000 |
1/17/09 |
10/1/08 |
108 |
|
S |
149 |
Summit Ct |
599900 |
479900 |
420000 |
1/19/09 |
8/20/08 |
152 |
|
S |
242 |
Myrtle Ave |
499000 |
439000 |
422300 |
1/21/09 |
9/11/08 |
132 |
|
UC |
532 |
Sherwood Pkwy |
739000 |
699000 |
1/23/09 |
9/25/08 |
120 |
|
|
UC |
247 |
Sinclair Pl |
965000 |
699000 |
1/23/09 |
10/20/08 |
95 |
|
|
S |
937 |
Fanwood Ave |
479900 |
479900 |
470000 |
1/23/09 |
12/18/08 |
36 |
|
UC |
128 |
East Dudley |
1395000 |
1395000 |
1/26/09 |
11/19/08 |
68 |
|
|
UC |
826 |
Fairacres Ave |
629000 |
599000 |
1/26/09 |
9/15/08 |
133 |
|
|
S |
218 |
Sinclair Pl |
2594000 |
2099000 |
1884000 |
1/27/09 |
9/14/08 |
135 |
|
UC |
529 |
Edgar Rd |
499000 |
469000 |
1/30/09 |
10/8/08 |
114 |
|
|
UC |
644 |
Central Ave |
274900 |
274900 |
1/31/09 |
9/24/08 |
129 |
|
|
UC |
538 |
Colonial Avenue |
749000 |
749000 |
2/2/09 |
10/14/08 |
111 |
|
|
UC |
212 |
Myrtle Avenue |
399000 |
399000 |
2/2/09 |
1/14/09 |
19 |
|
|
S |
1108 |
Central Ave |
429900 |
429900 |
400000 |
2/3/09 |
12/9/08 |
56 |
|
UC |
111 |
Ayliffe Avenue |
439900 |
429900 |
2/4/09 |
9/16/08 |
141 |
|
|
UC |
245 |
Delaware St |
499000 |
499000 |
2/4/09 |
1/22/09 |
13 |
|
|
UC |
118 |
Clifton Street |
379000 |
379000 |
2/5/09 |
11/24/08 |
73 |
|
|
UC |
756 |
Warren St |
409900 |
409900 |
2/5/09 |
1/16/09 |
20 |
|
|
S |
936 |
Carleton Rd |
539900 |
539900 |
520000 |
2/9/09 |
2/2/09 |
7 |
|
UC |
1612 |
Boynton Ave. |
579900 |
499900 |
2/10/09 |
9/22/08 |
141 |
|
|
UC |
725 |
Highland Ave |
1299000 |
1299000 |
2/11/09 |
2/4/09 |
7 |
|
|
UC |
22 |
Cowperthwaite Sq |
650000 |
529000 |
2/12/09 |
11/26/08 |
78 |
|
|
S |
18 |
Carol Road |
559000 |
559000 |
530000 |
2/12/09 |
11/19/08 |
85 |
|
UC |
1 |
Lincoln Plaza |
725000 |
649000 |
2/13/09 |
4/18/08 |
301 |
|
|
UC |
792 |
Fairacres Ave |
528500 |
528500 |
2/16/09 |
2/10/09 |
6 |
|
|
UC |
512 |
Dorian Pl |
519900 |
519900 |
2/18/09 |
11/26/08 |
84 |
|
|
UC |
251 |
Avon Rd |
619900 |
619900 |
2/18/09 |
2/11/09 |
7 |
|
|
UC |
1116 |
Ripley Ave |
1050000 |
999999 |
2/19/09 |
10/15/08 |
127 |
|
|
UC |
755 |
Carleton Road |
499999 |
424900 |
2/24/09 |
10/10/08 |
137 |
|
|
UC |
600 |
Ardsleigh Drive |
429000 |
412000 |
2/26/09 |
1/16/09 |
41 |
|
|
UC |
758 |
Prospect Street |
1299000 |
1199000 |
2/27/09 |
10/3/08 |
147 |
|
|
UC |
713 |
Marcellus Dr. |
629000 |
599000 |
2/27/09 |
2/2/09 |
25 |
|
|
UC |
382 |
Orenda Circle |
1795000 |
1700000 |
3/2/09 |
8/28/08 |
186 |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As a home marketing specialist, and Westfield NJ specialist, I must frequently excercise the discipline of averting my eyes from the real estate "meltdown" portrayed on national TV to look at our local market from various angles.
Last week two sales closed in two days for over list price, provoking me to post this report on the state of the Westfield home sales market. To mangle Mark Twain's message to Westfield buyers, sellers and homeowners: reports of our demise are grossly exaggerated.
Looking over contracts signed in 2008 and already closed, there are 119 to date, with 23 at list price or better. Avg Sale price: $754,031. Avg SP % of LP: 97%. Avg days on market 73 (including new homes listed a year or more before they can sell).
Of the 23 star sales, 2 or 3 were simply underpriced, and proved the market insists on paying for value even when sellers or agents under price. The other 20 were prepared right, staged right, priced right and promoted right, from the start. In a competetive (buyers') market, "right the first time" is gold.
If you would like to see the listings and pictures, please email Service@ValueMyHomeNJ.com. If you like to review lots of numbers please see below. You may also request a quick over the web analysis of your home's value.
If you would like a free, no strings consultation on how to join the ranks of successful sellers, please email Scott@LuxuryHomesNJ.com. Thanks for reading my first post!
|
Address |
OrigList |
List |
Sale |
% |
Contract |
DOM |
Grade School |
|
|
923 |
Central Ave |
399900 |
399900 |
475000 |
119% |
2/25/2008 |
32 |
Mckinley School |
|
904 |
Tice Pl |
599000 |
599000 |
676000 |
113% |
4/2/2008 |
4 |
Tamaques School |
|
300 |
Roanoke Rd |
749000 |
749000 |
800000 |
107% |
1/28/2008 |
3 |
Franklin School |
|
553 |
Prospect Street |
835000 |
835000 |
886000 |
106% |
2/11/2008 |
5 |
Franklin School |
|
320 |
Clifton St. |
529000 |
529000 |
550000 |
104% |
5/30/2008 |
45 |
Tamaques School |
|
412 |
Wells St |
815000 |
815000 |
847000 |
104% |
2/26/2008 |
14 |
Washington School |
|
509 |
Colonial Ave |
749900 |
749900 |
776000 |
103% |
1/29/2008 |
6 |
Wilson School |
|
126 |
W Madison Ave |
299900 |
379900 |
390000 |
103% |
2/19/2008 |
27 |
Franklin School |
|
1000 |
Coolidge St. |
725000 |
725000 |
740000 |
102% |
5/29/2008 |
22 |
Washington School |
|
120 |
W Dudley Ave |
1250000 |
1250000 |
1275000 |
102% |
4/7/2008 |
7 |
Franklin School |
|
869 |
Dorian Road |
599900 |
599900 |
610000 |
102% |
3/10/2008 |
5 |
Mckinley School |
|
403 |
Quantuck Ln |
679000 |
679000 |
690000 |
102% |
4/7/2008 |
6 |
Franklin School |
|
235 |
Edgewood Ave |
759000 |
759000 |
765000 |
101% |
1/24/2008 |
19 |
Franklin School |
|
939 |
Brown Ave |
559900 |
544900 |
545000 |
100% |
5/1/2008 |
43 |
Franklin School |
|
744 |
Oak Ave |
599900 |
579900 |
580000 |
100% |
5/12/2008 |
46 |
Wilson School |
|
564 |
Highland Ave |
2099000 |
1890000 |
1890000 |
100% |
5/12/2008 |
87 |
Wilson School |
|
819 |
Kimball Ave |
889000 |
889000 |
889000 |
100% |
1/28/2008 |
5 |
Wilson School |
|
719 |
Westfield Ave |
629900 |
629900 |
629900 |
100% |
2/21/2008 |
7 |
Tamaques School |
|
654 |
Knollwood Terr |
699000 |
675000 |
675000 |
100% |
1/10/2008 |
43 |
Mckinley School |
|
125 |
Cedar Street |
839900 |
839900 |
839900 |
100% |
4/2/2008 |
13 |
Jefferson School |
|
916 |
Brown Ave |
499900 |
499900 |
499500 |
100% |
2/15/2008 |
18 |
Franklin School |
|
300 |
Wells St |
798000 |
798000 |
795000 |
100% |
3/7/2008 |
45 |
Washington School |
 |
|
|
Licensed Realtor Associate-Focused on Luxury Home Sellers and Buyers in Westfield NJ. Member Council of Residential Specialists, Garden State MLS, NAR.
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.
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