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Market Conditon for Lower Township, New Jersey

By
Real Estate Agent with APEX REALTY, INC.

August 1, 2007

There is a large supply of inventory of homes on the market in Lower Township, New Jersey.  See chart below:

HIGHLOWAVERAGEMEDIANTOTAL PRICELISTING COUNT
$1,990,000$58,000$337,676$274,000$167,825,396497

 

From January 1, 2007 - August 1, 2007

158 Properties have sold in Lower Township, New Jersey with a median sold price of $229,000.  Chart below shows Listing Price on top line and Sold Price on bottom line.

 

HIGHLOWAVERAGEMEDIANTOTAL PRICELISTING COUNT
$1,025,000$69,900$279,113$244,500$44,099,997158
$955,000$69,950$260,647$229,000$41,182,300

Anonymous
Jim Hanson, NJ State Certified Real Estate Appraiser
I agree that there is certainly an oversupply of housing but I also believe that a more accurate look at the oversupply numbers should have been compared to a 12 month "sold" history, from 8/1/06 to 8/1/07, not from January 2007 only.
Sep 02, 2007 01:52 AM
#1