Cranford, NJ

Here are the raw numbers for March 2008 in Cranford NJ Real Estate. More detailed analysis to follow

Number of Closed Sales: 18 (this includes those that went under contract before March)

Number of Listings that Went Under Contract: 16

Average Sales Price: $375,391

Average Days on Market of Sold Homes: 67

List to Sale Price Ratio: 97%

Number of New Listings: 38

That is a LOT of homes going under contract and closing in March which was fueled likely by lowering interest rates, slightly warmer weather, and sellers PROPERLY pricing their homes.

It is becoming apparent to us that sellers who need to sell are starting to list their homes at prices that are in line with market demand. This sparked buyer activity, and if rates remain competitive, I expect this trend to continue for the short term. Longer term, recession fears and economic conditions leave much uncertainty in our local market. We are highly dependent on the economy of New York City.

View January's Cranford report here: January 2008 Cranford NJ Real Estate Report

View February's Cranford report here: February 2008 Cranford NJ Real Estate Report

Later this week, check back here for a comparison analysis year over year, as well as trending reports for the Cranford NJ Real Estate Market

No matter what the market does, my job doesn't change...SERVING YOU, the client, and representing your best interests. Part of that responsibility is to know our market, and give you solid advice on what you need to do to accomplish your goals, regardless of whether it's a buyers market, sellers market, or neutral market. Happy House Hunting!

Sean Carroll - Realtor, Team Leader

"Team Carroll" - Cranford, Westfield and Scotch Plains/Fanwood Real Estate Professionals

http://www.teamcarrollnj.com/

Here are the raw numbers for February 2008 in Cranford NJ Real Estate

Number of Closed Sales: 10 (this includes those that went under contract before February)

Number of Listings that Went Under Contract: 23 (wow)

Average Sales Price: $536,500

Average Days on Market of Sold Homes: 95

List to Sale Price Ratio: 95%

Number of New Listings: 32

That is a LOT of homes going under contract in February which was fueled likely by those record low interest rates in the early part of the month, combined with a few very nice weather weekends. Last February there were only 11 that went under contract.

Also, it is becoming apparent to us that sellers who need to sell are starting to list their homes at prices that are in line with market demand. This sparked buyer activity, and if rates remain competitive, I expect this trend to continue for the short term. Longer term, recession fears and economic conditions leave much uncertainty in our local market. We are highly dependent on the economy of New York City.

So why didn't prices SPIKE up right away? Well, there were still 32 new listings, which kept supply and demand balanced, and thus prices remained relatively stable.

View last month's Cranford report here: January 2008 Cranford NJ Real Estate Report

No matter what the market does, my job doesn't change...SERVING YOU, the client, and representing your best interests. Part of that responsibility is to know our market, and give you solid advice on what you need to do to accomplish your goals, regardless of whether it's a buyers market, sellers market, or neutral market. Happy House Hunting!

Sean Carroll - Realtor, Team Leader

"Team Carroll" - Cranford, Westfield and Scotch Plains/Fanwood Real Estate Professionals

http://www.teamcarrollnj.com/

This market is active...at least it is in my world. :) Our biggest challenge today at Team Carroll is to try to coordinate closings from listing to purchase, to listing to purchase, etc. We have a first time buyer, whose funds are the start of a chain of closings which will ultimately end up with at least 3 property closings in Cranford alone. That is a lot of stress for my clients of course, and for everyone involved..On the market side however, it is a good sign in that the real estate food chain in Cranford seems to be showing many signs of life.

Check back early next week for my monthly Cranford NJ Real Estate Market report, which will breakdown the numbers for February, and give you an idea of where we are trending going forward. Until then...thanks for reading as always....

Sean Carroll - Realtor, Team Leader

"Team Carroll" - Real Estate Professionals

www.TeamCarrollNJ.com

Today marks just about the midway point to February, especially with this being a leap year, so I wanted to post an interim real estate report for Cranford NJ.

As of today, there are 79 Active Listings in Cranford NJ, and there have been 7 homes that have gone under contract this month. That is a good pace for sales in February, and I anticipate that we will see at least a handful more, as there are several properties currently in attorney review.

Check back in 15 days for the February Real Estate report for Cranford, which will include pricing information, comparisons to 2007, and projections for the quarterly report of the 1st quarter 2008.

For the January report: Click Here

Thanks for reading!

Sean Carroll - Realtor, Team Leader

"Team Carroll" - Real Estate Professionals Specializing in Cranford, Westfield, Scotch Plains area Real Estate

www.GoCarrollTeam.com