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Cranford NJ Housing Market Stats

In our last look at Cranford NJ Real Estate at the end of March, I predicted that the 2nd Quarter Sales to "exceed" the 1st quarter sales. Seasonally, this is almost always the case, but with the first time home buyer tax credit in place through April 30, combined with historically low interest rates, and favorable pricing I expected an even greater surge in market activity.

As we complete the 2nd month of the quarter, it is quite apparent that the 2nd Quarter of 2010 will show a sizable spike in sales activity. In the entire 1st quarter, there were 29 closed sales in Cranford. So far in the 2nd quarter, there were 10 closed sales in April, 9 closed sales in May, and currently 43 listings under contract. This is a staggering number, as most of these properties will likely close before June 30, to comply with the tax credit requirements, thus more than doubling the number of transactions over the first quarter, and increasing 24 percent when compared to the same time period 1 year ago.

To see the full article and the actual numbers click Cranford NJ Real Estate Market Report

Thanks for reading!

Sean Carroll

Team Carroll of RE/MAX Supreme

Westfield NJ 1st Quarter Real Estate Market Stats

The first quarter of 2010 in Westfield, NJ showed a boost in sales from Q1 2009, which is not surprising, given the fact that the 2009 1st quarter was what most economists said was the height of the recession.

Closed sales were up over 40% year over year, and as the first time buyers energized the market, it helped homes in the upper price ranges to sell, as folks started to "move up"

For a full report: Westfield NJ Real Estate Market

To find out what homes are selling for in your part of Westfield: Westfield NJ Market Snapshot

Thanks for reading!

Sean Carroll

RE/MAX Supreme

908-418-7152

www.TeamCarrollNJ.com

Cranford NJ Real Estate Sales

Hard to believe its already the 2nd quarter, but I am sure uncle sam didn't forget! Hope you've filed your taxes...or at least started them.

...but I digress.

With the start of a new quarter comes the looking back at the last one. Cranford NJ saw 29 closed sales, and 50 homes go under contract in the first quarter. Thats about a 4.7 month's supply. Is that a seller's market??? It just might be right now.

Check out the Cranford NJ Market Summary for more detailed stats, and as always, thanks for reading!

Cranford New Jersey Foreclosure Statistics

Foreclosures were on the rise in Cranford at the end of 2009, but the good news is that compared to the national, state, and county average, Cranford is still experiencing less foreclosures per number of housing units.

We will continue to track these numbers, and I suspect if unemployment stays near 10%, the foreclosures will increase a bit more before decreasing.

For the full article : Cranford NJ Foreclosure Report

Sean Carroll

RE/MAX Supreme

908-276-MAXX - office

908-418-7152 - cell

www.TeamCarrollNJ.com