Chester, NJ

Chester NJ Real Estate Chester Borough 2011 Annual Market Report

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Chester NJ (Chester Borough & Township) 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 Chester NJ real estate market. If you are considering buying and or selling a home in 2012 in Chester 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 Closed Sales in Chester Borough has remained somewhat steady of the past 7 years with the number of Listings varying significantly from year to year. Inventory has increased dramatically by 39% as compared to last year at this time to 13.7 months. 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 13 and a half months to sell all of Chester Borough's current inventory. This figure indicates that Chester Borough is still in a "Buyer's Market" and will remain so for at least the short term. A normal or "Balanced Market" would have 5 to 6 months worth of inventory.

The chart above indicates fluctuations in both the Average and Median Sale Prices in Chester Borough NJ over the past 7 years. This is primarily due to the overall low volume of activity in the Borough combined with some sales of trailer homes in Windy Acres which are priced significantly lower than the average single family home in Chester Borough. As a result, prices have been somewhat volatile over the past 7 years with average and median highs in the low to mid $600's down to the high $300's for 2009 and 2011.

What Does the Market Hold for 2012?

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

Chester Borough 2011 Annual Market Report

For more information on Chester (Chester Borough& Chester Township) including the schools, follow this link:

All you need to know about Chester NJ

Chester NJ Real Estate Chester Township 2011 Annual Market Report

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Chester NJ (Chester Borough & Township) 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 Chester NJ real estate market. If you are considering buying and or selling a home in 2012 in Chester 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 both Closed Sales and Listings in Chester Township has dropped off significantly from the period of 2005 through 2007. Inventory is still high at 12.6 months, although it is down about 15% from last year at this same time. 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 12.6 months to sell all of Chester's current inventory. This figure indicates that Chester is still in a "Buyer's Market" and will remain so for at least the short term. A normal or "Balanced Market" would have 5 to 6 months worth of inventory.

On a positive note, recent data indicates that some of the older inventory (houses on the market for long periods of time) has finally begun to clear out. These sellers are finally getting serious about facing reality by lowering their price and moving on with their lives. This is an important indicator that the market may be starting to slowly turn itself around.

What Does the Market Hold for 2012?

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

Chester Township 2011 Annual Market Report

For more information on Chester (Chester Borough& Chester Township) including the schools, follow this link:

All you need to know about Chester NJ

Chester NJ Real Estate - Chesterfield Farm Market Report

by Bob Zorechak - GRI, ABR, e-PRO

As you can see from the spreadsheet and graphs below, 11 homes have Sold in Chesterfield Farm over the past 7 years at a somewhat inconsistent pace with zero sales in 2005 and 2009. The busiest year with 4 sales was 2006, followed by 2007 with 3 sales and only 4 more sales over the the next 4 years. There are zero homes currently For Sale with 1 sale currently Pending.

The Average Sale Price of homes Sold has declined in 4 out of the last 5 years, from a high in 2007 of $1,087K to $760K in 2011, however this statistic is somewhat skewed due to 2 years without any recorded sales in 2005 and 2009. There are zero homes currently For Sale with 1 Pending at this time. Prices over the past several years for homes in Chesterfield Farm range from the high $600's to $900k, with some of the larger homes selling for more.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Chesterfield Farm Market Report:

Chesterfield Farm Market Report

For additional details & information on the Homes in Chesterfield Farm, follow the link below:

Homes in Chesterfield Farm - Chester NJ

For more information on Chester (Chester Borough& Chester Township) including the schools, follow this link:

All you need to know about Chester NJ

Chester NJ Real Estate - Homes in Chesterfield Farm

by Bob Zorechak - GRI, ABR, e-PRO

Conveniently located just 1 mile from downtown Chester Borough's historical village/shopping district as well as all of the other main attractions in town, the homes at Chesterfield Farm offer true luxury by any standard. Beginning with the impressive tree-lined drive, complete with a classic white post & rail fence leading the way into this well established community, one gets the sense that this is a very desirable place to live.

There are only 34 homes in this development which are neatly arranged along a circular road with one small side street offering a cul-de-sac setting. A gently rolling and lush landscape all in a park-like setting gives Chesterfield Farm a true sense of luxury. While most of the homes are Colonials, they are diverse in style and appearance, from the very stately and majestic Georgian Colonial, spacious Dutch Colonial, and front porch Colonial, with some homes featuring circular Jefferson staircases, soaring ceilings, grand two story entrance ways, circular driveways, over-sized rooms along with all of today's most modern and sought after amenities.

These homes range in size from approximately 3,500 to 6,600 sq.ft., and boast 4 to 6 bedrooms (most having 5), 3 to 5 bathrooms, 2 to 5 fireplaces (most having 3), all with 3 car garages and full basements with many being finished. Some of the homes have beautiful in-ground swimming pools & spas, libraries, great rooms and separate au paire or in-law suites.

The homes in Chesterfield Farm are ideally situated on an average lot size of 1.5 acres with a few lots being just over 3 acres, some with sweeping mountain views. The homes were constructed from 1988 through 2002, with the majority of them being built in the late 80's to early 90's.

Prices over the past several years have been ranging from the high $600's up to $900K in this neighborhood, although some of the largest homes will sell for more.

Other developments / neighborhoods in Chester with similarly priced homes include Chestnut Run, Colby Farm, Pleasant Hill Estates, Hartley Meadows, Forrest Hill, Highland Farms, Briarcliff, Colts Run and Timber Ridge, among others.

For more information on past home sales and average sale prices follow this link:

Chesterfield Farm in Chester NJ- Market Report

Why Chester NJ is a Great Place to Live

Chester offers a very high quality of life to its residents beginning with an outstanding public school system with a stellar reputation, a new state of the art public library and plenty of choices available nearby in the private school sector, as well. In addition to the Chester Borough historic shopping district, there is a newer contemporary shopping center (Streets of Chester) which is home to some of the nation's most well known retail designer clothing stores. Open space and public parks and recreation are all in abundance with a wide choice of uses for outdoor enthusiasts and people of all fitness levels.

For more information on Chester (Chester Borough & Chester Township) including the schools, follow this link:

All you need to know about Chester NJ

For more information on Chesterfield Farm in Chester NJ, call me direct at (908) 267-2465, or email me at Bob@BobZorechakRealtor.com and I will be happy to discuss your specific requirements and find the right home for you.

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Follow this link to read the full article on Homes in Chesterfield Farm:

Chester NJ Real Estate - Homes in Chesterfield Farm

Chester NJ Real Estate - Chestnut Run Market Report

by Bob Zorechak - GRI, ABR, e-PRO

As you can see from the spreadsheet and graphs below, 14 homes have Sold in Chestnut Run over the past 7 years at a somewhat consistent pace with the exceptions of 2011 being the busiest year with 4 sales and 2008 being the slowest year at zero sales. There are 2 homes currently For Sale with zero sales currently Pending.

The Average Sale Price of homes Sold has declined over the past 7 years from a high in 2005 of $935K to $768K in 2011. The lowest Average Sale Price in any single year was in 2009 at $722K, however there were no recorded sales in 2008. There are 2 homes currently For Sale with zero Pending at this time. Prices over the past several years for homes in Chestnut Run range from the mid $600's to the mid $800's, with some of the larger homes selling for more.

What Does the Market Hold for 2012?

Follow the link below to find out in addition to reading the rest of this Chestnut Run Market Report:

Chestnut Run Market Report

For additional details & information on the Homes in Chestnut Run, follow the link below:

Homes in Chestnut Run in Chester NJ

For more information on Chester (Chester Borough & Chester Township) including the schools, follow this link:

All you need to know about Chester NJ