Mountainside Inventory and Prices continue to rise!

By Wayne Zuhl

Real Estate Agent with Remax First Realty II 0790808

May 24, 2014 05:38 AM

Before you buy or sell a home in Mountainside, NJ, an important first step is to do a little research into the real estate market. It's important to know what trends are evident in real estate values, so we've taken the work out if it for you. Here's what's been going on in Mountainside.

Inventory: There are currently 33 homes offered for sale in Mountainside, ranging in price from $369,000 all the way to $2,000,000. Over the past 12 months, the active inventory has averaged around 39 homes so there continues to be a high inventory as we reported last month. Sales are slowing down as well - only 3 homes sold in April. Typically, summer months are when Mountainside homeowners see the most sales.

Prices: There is a wide variety of homes in Mountainside, but the average sale price in April was $675,000. This is about 20% higher than the average sale price over the past 12 months and 11% higher than April of 2013. Since inventory is up, the increase in prices reflect an increase in demand for homes in Mountainside as well. Buyers should be prepared to make an offer that is at or close to market value when they find the home they want!

Time on Market: April of 2014 saw homes in Mountainside selling after an average of only 19 days! This is the fastest turn around time seen in Mountainside in over a year, and significantly faster than the average time on market of 2 months.

For more information, please see our blog at UnionCountyRE.wordpress.com or click below.

If you're interested in purchasing a home in Mountainside or the surrounding area, please see a complete list of homes at www.WayneZuhl.com or by clikcing here. If you're planning to sell your Mountainside home, please call us at 908-917-4189 for a free comparative market analysis of your home.

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