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Monthly Residential Property Market Analysis For Newark, New Jersey- June 2008

Newark's housing boom is evident the the volume of listings. June 2008 has seen fewer single family homes for sale over June 2007, listings were down by 4.2%. Coincidentally, the average list price was down from $266,000 to $240,000. There were 77 new listings during the month with an average list price of $227,000.

Listings under contract were an average of $184,000 in 2008. Only 24 homes went under contract. Noticeably different was the $170,000 average price of homes sold in June 2008. This is a 31.6% drop in sales price over June of 2007.

Posted by William Collins, Broker Associate on 07/19/2008 11:37 PM

Comments (1)

new jersey, newark, essex county, residential, single family homes, real estate

Originally posted at: Central New Jersey Real Estate: Monthly Residential Property Market Analysis For Newark, New Jersey- June 2008

This post has been included in New Jersey Information Essex County, NJ Information Newark, NJ Information

1 Comments on Monthly Residential Property Market Analysis For Newark, New Jersey- June 2008

SEP

William... the deciline in sales and sales prices is why I work so hard to encourgage homeowners not to treat their homes like piggybanks. I am hoping that we can all work together to educate our clients and motivate them to push toward paying off their mortage. I really think the way my grand parents and great grand parents had it right... Let's get back to those mortgage burning parties.

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