Statistics for Salem County, NJ - 2011 Year End
Let's take a look at 2011, as a whole, and compare it to 2009 and 2010.
Settled units: 459 (2009) 394 (2010) 356 (2011)
The 2011 number reflects a 23.7% decrease since 2009.
Average Sold Price: $166,000 (2009) $157,000 (2010) $154,000 (2011)
The 2011 number reflects a 7.33% decrease since 2009.
Average Sold Price/Original Price: 87.11 (2009) 87.18 (2010) 84.81 (2011)
The 2011 number reflects a 2.80% decrease since 2009.
Unfortunately, these numbers show -- across the board -- that the market is still trending down here in Salem County. Out of the 1,060 properties that were listed in 2011, only 369 went under contract with 336 going to final settlement.
The minimum sale was $13,500 -- the maximum sold price was $650,000.
The market has been quite a challenge since the end of 2006 and I think many of us in the Real Estate profession hoped (and some predicted) that 2011 was going to be a better year. Unfortunately, that was not the case.
We are all hopeful that the first quarter of 2012 will show an increase and a promise of better things ahead.
If you would like to know how your property fits into the current market, just Ask Chris! askchris@coldwellbanker.com.
856-628-2710 (phone/text)
856-678-4663, X211 (office)
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