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Westfield's Monthly Single Family Home Productivity Report

By
Real Estate Agent with ERA Queen City Realty

<!-- -->November 2006 saw a 23.59% increase in the number of listings over November 2005. Westfield had 241 single family homes listed for November 2006 with a median list price of $779,900, averaging 98 days on the market. Of the 241 listings, 37 were new with a median price of $649,900. During the month there were 22 sales with a median sales price of $635,000.  One could infer significant price reductions were taken, before these sales were consummated. Sales were equivalent in comparison to November 2005. However, the average sales price to list price was a strong 98%.

 

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Jay Thompson
Zillow - Seattle, WA

That's a big percentage increase! Maybe partly due to the small "sample size"? With 241 listings, it doesn't take a WHOLE bunch to increase the percentage a lot. Do your listing numbers bounce around a lot historically?

 

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Dec 14, 2006 02:10 AM
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management
Jay & Francy, Thanks for stopping by. Westfield is a town filled with a lot of daily commuters to New York. It is also a town that gets a fair share of relocation business. So, in answer to your question, yes the number bounces, as a result of people moving in from New York and the surrounding New jersey towns as well as the relo traffic.
Dec 14, 2006 11:48 AM