Yes the 2006 market overall was off in the East Coast but we are bouncing back quickly. The average price house in Colts Neck that closed in 2007 is $1,068,906 which represents a 13.4% increase in value compared to the average closing of $942,500 that occured this same time last year.
The days on market also went down to 89 days on the market where it was 229 days this same time last year.
One additional house closed in Jan 07 compared to Jan 06. The best stat is houses year to date in Colts Neck closed for 101.86% of the listing price. In Jan 2006, Colts Neck houses closed for 83.93% of the list price.
What does it all mean? It means houses that are priced right will sell for their full value. There is still a strong demand for quality houses that are located only 1 hour outside of NYC.
The market is recovering. Call an expert today, call Timothy Schwartz or any agent at CENTURY 21 Showcase 732-845-3600.
Comments (0)Subscribe to CommentsComment