Union County's robust housing market was in full gear last year. 36,790 homes were listed in 2006 versus 25,936 in 2005, a 41.85% increase in volume. The average list price was up by only 5% countywide, at $511,399, with an average of 93-94 days on the market.

Sales were down in 2006 with only 3,936 homes selling and closing by year end in comparison to 2005, at 4,771. For those who managed to sell in 2006, they saw an average increase in the sales price, around $483,186 for a 9% increase over 2005.

While the market has slowed down a bit, which is to be expected this time of the year, buyers are realizing some good deals and sellers are selling.

 

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William Collins, Broker Associate

South Orange, NJ

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ERA Queen City Realty

Office Phone: (973) 275-5454 x 11

Cell Phone: (908) 531-4979

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