westfield real estate: Westfield NJ Real Estate Summary - August 2007 - 08/24/07 05:40 AM
Westfield, NJ Real Estate Update 
There are currently 195 single family homes  on the market for sale. These numbers have stayed stable in the past month. Last month, there were about 203 listings for sale at this time. Inventory levels in general are higher than in prior months, giving buyers more options when selecting a home.
Although prices in general have trended slightly lower or flatlined, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Westfield NJ has an excellent school system, an expansive downtown shopping and dining area, and a train line to Newark, with … (0 comments)

westfield real estate: Westfield NJ Homes For Sale and Homes Sold - June/July 2007 - 07/18/07 08:45 AM
Westfield, NJ Real Estate Update 
There are currently 203 single family homes  on the market for sale. These numbers have stayed stable in the past month. Last month, there were about 201 listings for sale at this time. Inventory levels in general are higher than in prior months, giving buyers more options when selecting a home.
Although prices in general have trended slightly lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Westfield NJ has an excellent school system, an expansive downtown shopping and dining area, and a train line to Newark, with transfer service … (0 comments)

westfield real estate: Westfield NJ Real Estate - Westfield NJ Homes Sold - February, 2007 - 03/02/07 01:09 AM
For the 12 month period ending February 28, 2007 as compared to the 12 month period ending August 2006, there are some clear signs that the real estate market in Westfield, NJ has stabilized considerably. Prices and Inventory have leveled off, as the spring market approaches. Days on market has remained stable, as have the number of listings and list price to sales price ratio.
Average Days On Market:
12 mos Ending 8/2006: 52
12 Mos. Ending 2/2007: 57
List Price to Sales Price Ratio:
8/2006: 98%
2/2007: 97%
Total Listings Activated in MLS
8/2006: 3603
2/2007: 3726
These figures definitely support a more balanced and normalized real estate market, over the past several months, the amount of … (0 comments)

westfield real estate: Westfield Market Conditions Report - 12/14/06 02:48 AM
The real estate market in Westfield has adjusted in a similar fashion to surrounding towns, with prices easing off historic highs  from one year ago. There are currently 176 single family homes and 3 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Inventory levels are much higher than before, giving buyers more options when selecting a home. Although prices and demand in general have trended lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are … (2 comments)

westfield real estate: Managing the Emotional Side of Real Estate - 11/22/06 08:31 AM
In our market areas of Cranford, Berkeley Heights, Westfield and surrounding towns, we are in a period of market correction, much like other areas of the country. As a result, many sellers are struggling with the concept that their home may now be worth less than it was just one year ago, especially after 5 years of double digit price appreciation. No matter how many statistics and reports I show them, some people just think their home is worth what it's worth...and that's that.
This type of market has created much frustration, disbelief, and HIGHLY emotional responses from some sellers when conrfronted with … (22 comments)

westfield real estate: Real Estate Market Conditions in Westfield, NJ - 11/16/06 02:56 AM
The real estate market in Westfield has adjusted in a similar fashion to surrounding towns, with prices easing off historic highs at a rate of about 5%-9% from one year ago. There are currently 197 single family homes and 4 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Inventory levels are much higher than before, giving buyers more options when selecting a home.As with surrounding towns, homes that are priced properly are still selling quickly, and homes that are priced too … (2 comments)

westfield real estate: Home Sale Prices in Cranford, Berkeley Heights, and Westfield - 11/03/06 12:32 AM
Hi Everyone,
While these statistics are just a one month snapshot of the market, it is still beneficial for consumers to see what is happening in their community with average home prices, and especially days on the market.
For the 23 properties that were closed in October in Westfield, the average selling price was $776,304 and the average days on market was 54.
For the 8 properties that were closed in October in Cranford, the average selling price was $404,813 and the average days on market was 60.
For the 9 properties that were closed in October in Berkeley Heights, the average selling price … (0 comments)