Asking Prices and Sold Prices (January 6, 2010 - February 5, 2010) Multi Family

Here's the last month's report for Multi Family sales in Morristown NJ.  There has been a slight uptick in the amount of inventory as well as the the activity.  This is probably due to the approach of the Spring market and a renewed interest in property buying.  A lack of inventory in Morristown may also be driving interest.

MARKET PRICING DETAILS

 TotalMost RecentHighestLowestAverageMedian Sold Homes For Sale

2	01/29/2010	$360,000	$300,000	$330,000	$330,000
15	01/21/2010	$599,900	$210,000	$392,967	$389,000

 

Here's a bar graph that shows the asking price vs sales price.  Note the info at bottom that gives a percentage of the asking price versus actual sales price.  The trend over the past 2 years has been that a majority of properties of ALL types have been selling for less than asking price, no matter what the asking price has been.

 

RECENTLY SOLD HOMES

% of asking price received:

95%

Sales over asking price:

0

Sales under asking price:

2

Sales at asking price:

0