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Clark Real Estate Market Report - October, 2014

By
Real Estate Agent with Remax First Realty II 0790808

Did You Know? Clark, NJ, was incorporated as a township 150 years ago and was named for Abraham Clark who was a signer of the Declaration of Independence. In 2013, New Jersey Monthly magazine ranked Clark as 174th in its rankings of "Best Places To Live" in New Jersey.

Schools: Today, nearly 15,000 people call this suburban township home. Public school children in Clark are served by Frank K. Hehnly Elementary School, Valley Road Elementary School, Carl H. Kumpf Middle School, and Arthur L. Johnson High School.

If you're thinking of buying or selling a Clark home, your first step is to educate yourself on current market conditions. Here's what you need to know this month.

Inventory: There are currently 58 single family homes offered for sale in Clark. Please click here to browse listings and then contact us for your private showings.

The inventory hasn't yet begun its typical winter slow down. By this time last year, the inventory had dropped to about 70% of the summer high but this year we're holding steady. 

 


Prices: 
 

Good news for sellers - as inventory is holding steady, so are prices. The average sale price of a home in Clark in October, 2014, was $459,300, slightly above the 12 month average of $415,162. 

 


Time on Market: 
 

Homes may be seling at the same price as they did all summer, but they are definitely selling more slowly. The average sold hom in October had been on the market for 75 days compared to 54 days in August.

 

What does this mean to you? 

When the inventory remains high through the autumn, prices tend to drop as sellers get anxious. Since prices have held steady through the autumn, this winter may see a drop as sellers agree to lower prices in order to end their increasingly long Days on Market. There are so many houses on the market that buyers really have their pick, but buyers need to be prepared to pay full price. Last year, prices really didn't drop until February, and even then they never got as low as the previous summer. 

If you want to sell your home, you need to price it competitively and keep it in top notch showing condition in order to stand out from the large pack.

What's your next step?

If the time is right for you to buy or sell a home in Clark, Team Zuhl is here to help you every step of the way. Please give us a call at 908-917-4189.

For more information on selling a home:

For more information on Clark and Clark Real Estate:

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

Comments (4)

Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Wayne and Jean Marie Zuhl 

This is an excellent real estate market report as usual!  Great job! This is the type of information that buyers and sellers alike need to make informed decisions. Best wishes for the week ahead!

Nov 28, 2014 11:06 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Wayne and Jean Marie Zuhl well researched market report that's easy to understand and shares many facts about the market in Clark, N.J.

Nov 29, 2014 12:25 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Wayne and Jean Marie Zuhl  Great RE market report for Clark NJ  This is what makes buyers and sellers call . They know you are the neighborhood expert

Hannah

Nov 29, 2014 02:34 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Hi Wayne and Jean Marie, I love your market reports, how do you create the graphs?

Nov 29, 2014 12:14 PM