Here is blog #3 about the numbers in our area. I included most of the towns we service in Union, Essex, Somerset and Morris Counties, excluding the larger markets like Newark, Elizabeth and Plainfield.

In this report, we isolated just the first quarter of this year, and compared it to the first quarter of last year

Total Closed Sales Q1 2008 - 298

Total Closed Sales Q1 2009 195

This is a decline of 34% in total transactions.

This is a VERY drastic drop in sales from last year to this year. The good news is that 195 homes still sold. If you are a seller, make sure your price is fair, so you can be one of the solds and not one of the EXPIREDS.

Buyers, most of those homes that sold were at least 95% of the asking price, so if its priced fairly, make sure your offer is fair if you like the home and don't want to lose it to another buyer. If its priced correctly, it's already a bargain!

More to come.... :)

www.teamcarrollnj.com

www.homeownerhelpsite.com

Sean Carroll