Okay, call me cra-zy... but crunching a few market stats this morning is great food for thought for the real estate market in 2008 --- in New Jersey --- anyway. It is also a great way to PLAN your marketing strategy for 2008 as well as the marketing plan for your sellers or buyers.
Now, I am not a numbers addict, per say.... BUT, that said ....our success is really in the data. And, to quote a very good friend of mine - Linda Dulye, president of L.M.Dulye & Co., "The old axiom is ‘you get what you measure,'" and she always goes on to say, "If that's so, then if you're measuring nothing, that's exactly what you can expect to get." --- I am sure she is grinning from ear-to-ear because she loves when someone else catches the DATA fever.
Without data, you forfeit the ability to:
• assess performance
• determine priorities
• set goals
• develop relevant strategies
• make informed decisions
• be accountable
• IMPROVE PERFORMANCE!!!
Most importantly --- data helps you know your market, your business and helps you help your buyers and sellers particularly in this type of market.
Now all of that....leads me to the information below on Franklin Lakes. Over the last 6 months over 88 homes have SOLD in Franklin Lakes for an average sales price of $ 1,569,519 with an average days on market of 195 days. Again, similar to SADDLE RIVER, homes in the multi-million dollar range take longer to sell than those under the million dollar mark BUT priced well they sell and if they are of a perceived value....they sell.
*** Data taken on 1/25/08 from the NJMLS of single family homes either under contract ( 3 months ) or sold (6months). ***
| Status | # | Average | Minimum | Maximum | Avg DOM |
| Under Contract | : | 9 | $1,476,100 | $599,000 | $3,299,000 | 219 |
| Sold | : | 79 | $1,569,519 | $510,000 | $7,300,000 | 195 |
| Total Listings | : | 88 | | Sold properties closed averaging (92.84%) of their final list price (FLP). This reflects a (7.16%) difference between property sale prices and their *FLP's. |
|
| Amount | | Average Price Sold Comps: | $1,569,519 |
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For more information about the Borough of Franklin Lakes, New Jersey click : www.franklinlakes.org .
For more information about using Data for your company or your business contact : www.lmdulye.com
AND TELL HER... that Pamela Stetson sent you... ;)
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Thinking of buying in FRANKLIN LAKES or Bergen County, New Jersey? Let me help you. Know the sales value of your new home and your new neighborhood * based on actual market comps. Allow me to present a Comparative Market Analysis to you that is customized to your home, finances and your specific needs. This will give you detailed information about pricing and selling your home in the current market or BUYING your home in your new neighborhood.
For more information about buying or selling your largest financial asset, contact me at CupaT@aol.com.
Copyright - Pamela Stetson 2008, http://www.pamelastetson.com/ .
