Mendham NJ Real Estate Market Update NOVEMBER 2014

Note: There are two separate reports for MENDHAM - one for the TOWNSHIP and one for the BOROUGH

The numbers for MENDHAM TOWNSHIP are mostly flat for NOVEMBER 2014:

• The rolling 12 month sales volume decreased slightly by one (1) unit or 1% - Last year: November 2012 thru November 2013  (80) homes sold as compared to the current period: November 2013 thru November 2014 with (79) homes sold.

• The November year-to-date numbers decreased modestly by seven (7) units or 9% as compared to last year's total of (75) homes sold to the current period with (68) homes sold. This volume is very much in line with the past four (4) years performance levels.

• The monthly volume for the number of sales occurring last November was three (3) homes sold as compared to this November with four (4) homes sold is up slightly by one (1) unit or (33%).  This volume is also in line with 4 out 5 of the past years' previous monthly volume for November.

• The volume of Pending Sales (Under Contract) as of the last day of November 2014 is at a healthy six (6) units which is the same amount as it was last year at this same time.

• The supply of available inventory (the time it would take to sell all of the homes currently on the market) as of the end of November is at 10.5 months, which is up slightly from 10.3 months from this same time last year.  Basically this indicates that the local market has an over supply of inventory giving Buyers a significant advantage.

Note: A "balanced" market is considered to have a 6 month supply. Anything below that amount would be considered a "low" inventory and thus less than balanced. This market condition typically favors Sellers.  Anything above a 6 month supply would result in a "high" inventory of homes on the market and typically favors Buyers.

Look below to see the individual homes that sold in Mendham Township NJ for the month of NOVEMBER in 2014.  Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through NOVEMBER over the past five (5) years, followed by another graph showing a year to year comparison for homes SOLD in in the month of NOVEMBER over the same five (5) year period.