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Monthly Multifamily Property Market Analysis For The Vauxhall Section Of Union, New Jersey- June 2008

By
Real Estate Agent with ERA Queen City Realty

Vauxhall is an unincorporated section of Union Township in Union County new jersey. Bordered by Millburn and Maplewood.

While there were fewer multifamily listings in June 2008 over the same period in 2007, the number still exceeded 500, with an average list price of 0f $358,799. This represents a 6.3% reduction in list price over June of 2007.

The new listing's average price point during the month exceed last year's for June. However, there were only 84 new listings in 2008 versus 131 in June 2007.

More properties went under contract this year(57 versus 41), with an average price of $323,647, down by 12.1%.

Interestingly enough, 47 closings took place in both years during the month of June. The average price for 2008 was $323,479 versus last year's $346,836.

 

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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

William - That is unusual that you have the same number of sales in June 2008 as in 2007.  It was also interesting that more properties went under contract this although the price did come down.  Do you think people are turning to multifamily to help with the mortgage?

Jul 27, 2008 11:45 AM
Pam Winterbauer
Pam Winterbauer Real Estate - San Ramon, CA
"Providing Blue Ribbon Service"

William.....it looks as if you are right on track 2007 vs 2008.

Jul 29, 2008 03:57 AM
Pam Winterbauer
Pam Winterbauer Real Estate - San Ramon, CA
"Providing Blue Ribbon Service"

William.....it looks as if you are right on track 2007 vs 2008.  Thanks for sharing this information.

Jul 29, 2008 01:33 PM