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Union Real Estate Market Report - August, 2013
Union, NJ, is home to nearly 57,000 people. It occupies northern Union County in the area that was called Connecticut Farms in the 18th Century. Nearly 57,000 people live in Union.
There are six primary (PreK-4) schools:
Battle Hill School Hannah Caldwell School Connecticut Farms Elementary School Franklin School Livingston School Washington School Central Five-Jefferson School serves grade 5, and Burnet Middle School and Kawameeh Middle School serve grades 6 though 8. Union High School serves 2400 students in grades 9-12.
In July, there were 335 homes listed for sale and 33 homes sold. This results in a months supply of 8.2. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past. A Months of Supply of more than 5 months is what real estate professionals often call a "buyer's market." This means that there are more sellers than buyers in the area and homes are selling slower than they are being put on the market. Typically, this decreases prices. Historically, however, the months supply in Union is significantly lower than it was this time last year when it was over 14.
The average list ... more
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