October, 2013 Market Update Livingston and Millburn/Short Hills, NJ Area
Here’s what’s happening in your neighborhood. The government’s drama settled…no surprise there. You should be in a good mood. Why? Because some of the economic indicators reported a ‘real’ third quarter improvement and that…is good news for all of us. New Job reports lead the way with 204,000 new jobs created, well above the 100,000 expected. The GDP (Gross Domestic Product) showed that the economy expanded 2.8%.
So what does that mean for homeowners? Well, not much yet. However, if the improvement continues, the government will raise interest rates and that will affect housing sales. Today, inventory is still at a deficit to meet buyer demand. A new trend has surfaced as a result of low inventory levels. We are seeing, buyers make offers with a Home Sale Contingency. For obvious reasons, that can get sticky. The reality is, Buyers, who own a home, don’t want to sell unless they have a home to move to. Locally, the number of homes Under Contract for October, 2013 was robust, inspite of the lack of inventory. Let’s take a look….
Below are the market statistics for Livingston, Millburn/Short Hills, Maplewood, South Orange, West Orange, North Caldwell & Summit, NJ for the month of October, 2013.
October, 3013 Livingston and Millburn/Short Hills, NJ Area Market Update
TOWN: | #ACTIVE LISTINGS - OCTOBER | #ACTIVE LISTINGS - SEPTEMBER | #UNDER CONTRACT OCT | #UNDER CONTRACT SEPT | #SOLD OCT |
#SOLD SEPT |
DOM | LP/SP |
Livingston | 92 | 99 | 34 | 25 | 30 | 35 | 64 | 96% |
Millburn/Short Hills | 81 | 96 | 28 | 18 | 24 | 17 | 86 | 97% |
Maplewood | 68 | 68 | 30 | 19 | 18 | 33 | 53 | 98% |
South Orange | 73 | 75 | 13 | 15 | 16 | 11 | 107 | 96% |
West Orange | 218 | 232 | 49 | 40 | 39 | 45 | 71 | 98% |
N. Caldwell | 37 | 29 | 11 | 13 | 11 | 14 | 56 | 99% |
Summit | 76 | 73 | 24 | 25 | 23 | 20 | 61 | 97% |
*Statistics reflect activity in October, 2013. All information is from the GSMLS. Information is deemed reliable but not guaranteed.
Check out what is currently on the market in Livingston, Millburn/Short Hills, Maplewood, South Orange, West Orange, North Caldwell & Summit, NJ
Livingston Active Listings • Millburn/Short Hills Active Listings • Maplewood Active Listings • South Orange Active Listings • West Orange Active Listings • North Caldwell Active Listings • Summit Active Listings
New to the Livingston and Millburn/Short Hills, NJ Area area? Our website is full of useful information for new residents. If you are thinking about buying a home in the Livingston and Millburn/Short Hills, NJ area, the Zebaida Group would love the opportunity to help. If you are selling a home, Robert and Marlisa Zebaida would love to show you how, through strategic pricing, proper condition and staging, and their expert marketing; you are likely to get your home sold quickly in today's Livingston and Millburn/Short Hills, NJ real estate market.
If you have specific questions relating to homes and Real Estate in Livingston and Millburn/Short Hills, NJ give us a call at 973.379.7030, or email us at info@zebaidagroup.com. To learn more about Livingston and Millburn/Short Hills, NJ, we invite you to visit www.ZebaidaGroup.com.
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