I'm sitting here comparing my 3rd quarter stats for 2007 to 3rd quarter for 2006 just to see what's going on - take a look at what I found:
Berkeley Heights - 3rd Quarter 2007 Berkeley Heights - 3rd Quarter 2006
New Listings = 41 New Listings = 51
Under Contract = 22 Under Contract = 27
Sold = 27 Sold = 31
Days on Market = 61 Days on Market = 49
Interest Rate = 6.38% Interest Rate = 6.5%
Average List to Sale Price = 97% Average List to Sale Price = 98%
Average Sales Price = $683,000 Average Sales Price = $681,000
So if you look at the numbers, it's taking a little longer to sell - average list to sales price ratio hasn't suffered much - fewer solds and under contracts, but also lower interest rate. I think our buyers need to hear information like this instead of what the media has been portraying so they can start making bold moves again and sign on the dotted line! It's not all bad.........to be continued.
Barbara Mulcahy
RE/MAX Classic Group
908-898-0800
http://www.sellwithmulcahy.com/
BMulcahy@ClassicNJ.com
Serving: Berkeley Heights, Cranford, Mountainside, New Providence, Scotch Plains, Summit, Westfield, Chatham, Long Hill Township, Madison, Basking Ridge, Bedminster, Warren, Watchung, Millburn/Short Hills
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