Long Valley, NJ

Long Valley NJ Real Estate 2011 Annual Market Report

by Bob Zorechak - GRI, ABR, e-PRO

Find out the latest real estate market information for Long Valley NJ 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 Long Valley NJ real estate market. If you are considering buying and or selling a home in 2012 in Long Valley 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 Listings in Long Valley has been trending slightly downward in 4 out of the past 5 years with Closed Sales remaining relatively flat averaging 159 closings a year for the past 4 years, resulting in an otherwise weak local market. Inventory, has dropped significantly by 29% from this same time last year down from 12.6 to 8.9 months, which is a big step in the right direction.

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 approximately 9 months to sell all of Long Valley's current inventory. This figure indicates that Long Valley, like many of the surrounding towns is experiencing what we call a "Buyer's Market" and will remain so for at least the short term, however this particular statistic is trending in the right direction. A Buyer's Market is considered to be a market with an inventory of 7 or more months worth of homes to sell at any given time. With more homes to choose from, not to mention record low interest rates and low prices, things remain very advantageous to buyers right now. A "Balanced" or normal market is considered to have 5 to 6 months worth of inventory with no distinct advantage to either Buyers or Sellers.

The chart above indicates a steadily declining trend in the Sale Price of homes in Long Valley NJ over the past 6 years. This is primarily due to two factors: an overall weak economy, which has a direct affect on the housing market along with Sellers refusing to price their homes close to their market value from the very beginning and then compounding the situation by not reducing their price in a timely manner. This scenario causes inventory to go up, and the listings to become "stale" because they are on the market much longer than the norm, resulting in a stagnant local market condition like the one we are currently experiencing.

Based on the excess amount of inventory, I would expect to see prices in Long Valley continue to decline at least for the short term until some of the older inventory is finally sold off or withdrawn from the market.

What Does the Market Hold for 2012?

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

Long Valley 2011 Annual Market Report

For more information on Long Valley including the school system, follow this link:

All you need to know about Long Valley NJ

Home for rent By Owner in Long Hill Twp, NJ 07933 - Flat Fee MLS Listing $395

49 IDEAL ST Long Hill Twp, NJ 07933 - Realtors welcome, buyer agent commission paid at closing!

1 Bedrooms, 1 Bathrooms

County: Morris, Approximately 0.46 acre(s),1 total full bath,4 total rooms, Type: First Floor Unit, Cooling features: Ceiling Fan, Lot size is less than 1/2 acre, Utilities present: Cable TV Available, Garbage Service Included, Public Sewer, Public Water, Electric Service, Natural Gas, Propane Gas, Elementary School: Gillette, Middle School: Central, High School: Watching, Office.

If you are interested in this Home for rent By Owner in Long Hill Twp, NJ 07933 - Flat Fee MLS Listing $395, please call 1-888-362-6543, enter the MLS# 2856680. You can make an appointment or ask any questions about the property. Realtors welcome, buyer commission is paid to any realtor. Please see additional listing details at Realtor.com featured by Realmart Realty.

If you have a Home for Sale in Long Hill Twp, NJ 07933 and would like save up to 6% commission, we can list your home on the local MLS and Realtor.com for a low flat fee of $395. For more information please read the FAQ on Home for rent By Owner in Long Hill Twp, NJ 07933 - Flat Fee MLS Listing. You will get the maximum exposure of the local MLS, in which thousands of local realtors will help you sell your home. You also reserve the right to sell your home by owner and pay no commission at all.

Please contact Realmart Realty for our texting special. All new orders will receive a free sign with Texting Service where buyers can get full listing details on their mobile phones instantly. Offers ends 05/30/2011, call now for more information about Homes for Sale By Owner in Long Hill Twp, NJ 07933 - Flat Fee MLS Listing $395.

Are you buying a home in Long Hill Twp, NJ 07933? We will give you up to 2% of the purchase price of the property at closing if you choose to work with us. This is for all homes that are listed on the MLS. For more information, please read the Buying tips and FAQS.

Jack Yao - Realmart Realty info@realmartrealty.com, 732-727-2285

YES IT'S TRUE! The state of New Jersey allows REBATES for homebuyers. This is CASH in your pocket at the closing table. For more information on the rebate program, please read the New Jersey Law. This is not a government rebate. Please consult a tax professional about the rebate. In New Jersey commissions are negotiable.

Home for Sale By Owner in Washington, NJ 07853 - Flat Fee MLS Listing $395

23 MARJORIE DR Washington, NJ 07853 - Realtors welcome, buyer agent commission paid at closing!

5 Bedrooms, 4.5 Bathrooms

Carbon Monoxide Detector, Central Vacuum, Dishwasher, Dryer, Instant Hot Water, Kitchen Exhaust Fan, Microwave Oven, Range/Oven-Gas, Range-Tabletop, Refrigerator, Self Cleaning Oven, Sump Pump, Wall Oven(s), Washer, Center Island, Eat-In Kitchen, Pantry, Separate Dining Area, Marble Floor, Tile Floor, Wood Floor, Walk-In Closet, Basement Level Rooms: Inside Entrance, Office, Rec. Room, First Level Rooms: 1 Bedroom, Breakfast Room, Dining Room, Foyer, Great Room, Kitchen, Laundry Room, Living Room, Powder Room, Utility Room, Second Level Rooms: 4 Or More Bedrooms, Bath Main, Bath(s) Other, Master Bath Features: Jacuzzi-Type, Stall Shower, Second Bedroom is: 17x15, Third Bedroom is: 15x14, Fourth Bedroom is: 13x14, Recreational Room is 29x13, Breakfast Room/Area is 15x11

Thermal Windows/Doors, Underground Lawn Sprinkler

If you are interested in this Home for Sale By Owner in Washington, NJ 07853 - Flat Fee MLS Listing $395, please call 1-888-362-6543, enter the MLS# 2824660. You can make an appointment or ask any questions for the property. Realtors welcome, full buyer commission is paid to any realtor. Please see additional listing detail at Realtor.com featured by Realmart Realty.

If you have a Home for Sale in Washington, NJ 07853 and would like save up to 6% commission, we can list your home on local MLS and Realtor.com for a low flat fee of $395, for more information please read the FAQ on Home for Sale By Owner in Washington, NJ 07853 - Flat Fee MLS Listing. You will get the maximum exposure of the local MLS which thousands of local realtors to help you sell your home. You also reserve the right to sell your home by owner and pay no commission at all.

Please contact Realmart Realty for our texting special where all new orders will get a free sign with Texting Service where buyers can get full listing details on their mobile phone instantly. Offers ends 01/30/2011, call now for more information about Homes for Sale By Owner in Washington, NJ 07853 - Flat Fee MLS Listing $395.

Are you buying a home in Washington, NJ? We will give you up to 2% of the purchase price of the property at closing if you choose to work with us. This is for all homes that are listed on the MLS. For more information please read the Buying tips and FAQS.

Jack Yao - Realmart Realty info@realmartrealty.com, 732-727-2285

YES IT'S TRUE! The state of New Jersey allows REBATES for homebuyers. This is CASH in your pocket at the closing table. For more information on the rebate program, please read the New Jersey Law. This is not a government rebate. Please consult a tax professional about the rebate. In New Jersey Commissions are negotiable.

I am holding an open house at 27 Trafalgar Court in Washington Township this coming Sunday, January 24th from 12:00PM - 3:00PM. My sellers have just reduced their asking price to $279,900 on this three bedroom, two and half bath townhome in desirable Hastings Square. For more details on this property see my featured listing on my Keller Williams web site at: http://melissajenkins.yourkwagent.com.

Directions:

Route 24 to Schooley's Moutain, Right on Hastings. Park on street in front of 27 Trafalgar.

Please call me with any questions regarding this property. 908-642-2222.

If you are looking to buy or sell a home in Long Valley or the surrounding areas then you need to call me right away. I have been a Long Valley resident for over 20 years and a Morris County resident for even longer. I consider myself the Neighborhood Specialist in Long Valley and would be happy to meet with you and discuss your Real Estate needs. Whether you are buying, selling or both education is key and I am a true believer that the more knowledge I can provide you with based on my professional experience the easier your next move will be! You can visit my website at www.leslieoneill.com