millburn: Millburn-Short Hills July 2021 Market Update
- 08/16/21 05:25 PM
We are just over the 1-year mark of the current Seller’s Market in Millburn Township. Mortgage rates remain at record-level lows which makes buyers more willing to pay a premium for property here. Sellers still frequently experience high demand when listing their home in the township, and we've seen that many of our listing clients have experienced multiple offer situations. July stats reflect a continued surge in record-pacing activity for the township. Number of units sold-to-date are tremendously higher than past years for both towns with Short Hills displaying a particularly high increase by the end of July and strong numbers for … (1 comments)
millburn: Millburn-Short Hills June 2021 Market Update
- 07/17/21 04:10 PM
The market in Short Hills and Millburn is still hot as we move into the Summer months. There were 49 listings that closed in June, which marks the highest number of closings by month this year and more than usual for the first half of the year. Anecdotal feedback suggests that this may be partially due to more Use of Occupancy agreements put in place where sellers remain in the home after closing and buyers have the ability to lock in better interest rates. The most significant growth in average price and total sales remains in Short Hills while Millburn continues to … (1 comments)
millburn: Millburn-Short Hills April 2021 Market Update
- 05/11/21 08:04 AM
The Spring real estate market is in full swing! For sellers and current property owners, the market trend news remains positive. Numbers indicate a continued strong Seller’s Market. For the entire township, Days on Market is still down significantly for April year-over-year. In Short Hills, the average Sales Prices remain substantially higher for both year-to-year and month-to-month. Sales Price to List Price ratios remain high, proving a willingness from buyers to pay the current market rate. In Millburn, Active Listings remain low as Under Contract listing counts are much higher than past years at this time. In Short Hills, Active Listings are … (1 comments)
millburn: THE SIMON WESTFALL-KWONG REAL ESTATE GROUP MARCH MARKET UPDATE
- 04/19/21 10:49 AM
The Simon Westfall-Kwong Real Estate Group is pleased to provide the March Market Update for Millburn Township. The Spring Market is here and it’s an unprecedented time for Sellers. With top-rated schools and easy access to NYC trains, Millburn and Short Hills are sought-after areas for buyers. Low interest rates on mortgages provide an added incentive for buyers to proceed with a purchase. Although still much lower than in years past, we are starting to see more inventory become available, giving buyers more options. Average Days on Market has started to rise in both towns. The average Sales Price is leveling … (1 comments)
millburn: THE SIMON WESTFALL-KWONG HOME EXPO FOCUSES ON THE HOT SELLER’S MARKET
- 02/23/21 09:44 AM
On February 13th, the Simon Westfall-Kwong Real Estate Group held their 3rd annual Home Expo. The event is usually held at the Short Hills Hilton, but this year they went virtual. Guests used Zoom on the Expo website to watch the presentations. In lieu of tables for guests to meet local home service providers, the website features advertising space with brief videos from the businesses. “Our region is in an unprecedented Seller’s Market, and many buyers and sellers are facing critical real estate decisions that need to be made quickly. It is really important that we continue to get valuable data … (1 comments)
millburn: Millburn/Short Hills Real Estate-A Year In Review
- 01/09/09 12:25 PM
Real Estate news continues to flood the media. Nationally and at the state level, the news has been disconcerting to most. The following statistics about homes sales in Millburn and Short Hills will shed some light on what went on in our local real estate market in 2008. These figures are according to the Garden State Multiple Listing Service (GSMLS). A look at important indicators shows a mixed bag of results in the township. In contrast to other parts of New Jersey and the U.S., the inventory of unsold homes on the market here has stayed very low and even fallen … (0 comments)
millburn: Which remodeling projects pay off the most?
- 12/05/08 12:43 PM
Every year Realtors across the country help compile the National Association of Realtors' Remodeling Cost vs Value Report which helps us understand the "market" value of renovations and additions. This report, this year, highlighted that Curb Appeal is more important than ever! For example, the most "profitable" project nationwide was upscale fiber cement siding (such as Hardy Plank) which recouped 86.7% of costs. Wood decks followed at 81.8%. Now, if your house does not need new wood siding, perhaps a fresh coat of paint will do the trick of enhancing your curb appeal. Check with your realtor as to what are … (0 comments)
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