Union, New Jersey's Single Family Home Report for December 2010

Union, New Jersey's Single Family Home Report for December 2010 illustrated how the month of December, was yet another challenge to those seeking to sell their home in Union, New Jersey. For the final month of the year, there were 395 single family properties for sale in the township. 41 of the properties represented new listings during the month, with 354 carried over from the prior month. For the 395 listings, the average list price was $291,746. However, the 41 new listings had an average list price of $273,384, representing a 6% reduction over the total number of listings for the month. This stands to reason for those seller's who are serious about selling in this market. With such a significant number of listings for sale in one town, lower price points are need to improve the property's market position.

For the month even fewer properties were sold in comparison to those listed. 29 properties, averaging 79 days on the market, went under contract with and average list price of $246,783. Consumers who made offers on Union township properties in December, chose properties that were listed approximately 15% below the average list. Clearly, the trend is moving downward with the level of competiton for sales, as we settle into the winter season. 

The 18 sales for the month were less than the number that went under contract for the month, with an average sales price of $260,672. These properties were on the market for approximately 99 days before receiving an offer. 

The Union, New Jersey's Single Family Home Report for December 2010 highlights the importance of reveiwing the available data when making marketing decisions. Forecasts indicate that there will be more short sales and foreclosures coming to the market over the coming months, which will no doubt further impact the decision making process when it comes to pricing.

help with your marketing needs is just a call away at 908-531-4979.