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This is a Real Estate Market Recap of Hillsborough, NJ; May 2011

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Real Estate Agent with Weichert, Realtors; Hillsborough 7802605

This is a Real Estate Market Recap of Hillsborough, NJHillsborough Homes For Sale, Kropsoq

Closed Sales

Forty five new happy homeowners in Hillsborough since April 1st 2011: Twenty nine home sales and sixteen townhouse/duplex sales.

Seventy three homes are under contract in Hillsborough: Forty five homes and twenty eight townhouse/duplexes.

There were one hundred and fifty two new listings here in town since April 1st 2011.  All of this information is important to include in the Real Estate Market Recap of Hillsborough. 

If you would like details of the houses that sold or are still on the market in Hillsborough please call or email me anytime at CarolKronmaier@Weichert.com. Search available homes and townhomes for sale in Hillsborough on my Website: CarolKronmaierHomes.com.

Hillsborough Homes For Sale, Amanda, Jonathan & Hannes Grobe

Absorption Rates

Absorbtion rates tell you how many months the available homes for sale in an area will take to sell (if no new homes are listed.) The number shows the rate at which the inventory of homes are being absorbed (sold). As the rate rises or falls it shows you if the current home inventory in Hillsborough is shrinking or growing. 

There are currently 305 active listings in Hillsborough and there were fourty five sales in the last month which is a market absorption rate of 9 months.  Inventory levels above 5 or 6 months indicate a clear buyer's market.  When Hillsborough absorption rates are that high, I like to break it down and look at price point or type of housing:

Homes priced under $300,000: 107 listings available, 24 sold last 30 days = inventory of 4.5 months

Homes priced under $400,000: 49 listings available, 12 sold last 30 days = inventory of 4.1 months

Homes starting at $400,000: 149 listings available, 28 sold last 30 days = inventory of 5.3 months

I also split the inventory up as style of home:Hillsborough Homes For Sale, Pascalou petit

Homes: 93 listings available, 40 sold last 30 days = inventory of 2.3 months

Townhouses/Duplexes: 159 listings available, 24 sold last 30 days = inventory of 5.3 months

Remember inventory levels do not predict how long it will take to sell a given house.  They help us determine how much activity there is in a given market at a given price point and allow us to plan accordingly when marketing a home for sale.

If you are considering a move into or out of Hillsborough, it pays to plan ahead.  Start here to search homes for sale in Hillsborough, or here to understand the value of your current home. I focus on Hillsborough but are well prepared to discuss other areas as well: Manville, Bridgewater, Raritan, Branchburg, and Somerset - most of Somerset and Hunterdon counties!

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For more great tips: Visit my web site at: http://www.CarolKronmaierHomes.com

Have questions, need advice you can count on or just want to discuss this further?

Don't waste any more time; pick up the phone and call me now! I'm here to help!

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