About Middlesex County, NJ

Center Hall Colonial - Ceramic tile entry and 1/2 bath, large eat-in-kitchen w/island & pantry industrial tiles floor. Dining room used as office; living room used as dining room; garage converted into large family room w/ walk-in-closet & pull down stairs to second attick, sliding door to back yard. Full unfinished basement w/newer Furnace, Humidifier, Central AC. Walk-in-closet & shower bath in master bedroom- Fully redone second full bath, 3 nice size bedrooms with ceiling fans; ceiling fan in hallway. Pull down stairs to attick w/roof fan. Hardwood floors throughout. Beautifully landscapped English garden, Large patio, 10X10 shed; vegetable & herb garden; established grapes & fig trees; Open play area. NEWER Roof, Furnace, Central AC. Close to RT 18, Transportation, Turnpike. To directly access this property, use this shortcut: http://www.fizber.com/new-jersey-buy-single-family-home-11649099.html

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.

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