Seller's Market Returns to Westfield NJ Real Estate Scene

By
Real Estate Agent with RE/MAX Select NJ# 9483506

Seller's Market Returns to Westfield NJ Real Estate Scene

Buyers are encountering short market times, multiple offers and no overabundance of selection of homes in Westfield NJ's brisk house market.

Buyers of new construction, resale homes, affordable homes, relocation homes, starter homes, luxury homes are all a little surprised to discover they are not alone when they settle on the most attractively presented, most sensibly priced homes in this desirable town.

Since the first of the year, 59 contracts have been signed on an inventory of just 120 homes.  A sales pace of 30 per month means we have a 4 month supply (or absorption rate, in industry jargon.

Housing economy experts agree that 6 month supply is a balanced market, so this is a hot seller's market by that metric.

If you are holding out for the spring market . . .Real Estate Springtime is here.  For a wealth of information on buying Westfield NJ real estate wisely in any market, or for preparing your Westfield NJ home and pricing for a successful sale, visit my website.

Sales from Jan 1, 2010 to Mar 1 2010

Address

List Price

Sale Price

Days on Market

Type

Rooms

Beds

Baths

Garage

Basement

151 Windsor Ave  

299900

270000

Split Level 

Yes  

1290 Overhill St  

449000

432000

12 

Bi-Level 

2.5 

No  

306 Woods End Rd  

699000

699000

Split Level 

Yes  

6 Carol Rd  

769000

725000

52 

Split Level 

2.5 

Yes  

857 Highland Avenue  

999950

925000

81 

Ranch 

2+2 

Yes  

524 Washington St  

1495999

1395000

48 

Colonial 

13 

4.5 

Yes  

4 Dorset Hill Road  

1999900

1787500

86 

Colonial 

10 

5.5 

Yes  

837 Ramapo Way 

1849000

AR

96 

Colonial 

14 

4+2 

Yes 

7 Drummond Rd 

1099000

AR

151 

Colonial 

Yes 

215 Golf Edge Dr 

829900

AR

58 

Bi-Level 

No 

684 Rahway Ave 

758000

AR

34 

Colonial 

10 

3.5 

Yes 

34 Genesee Trl 

599000

AR

34 

Split Level 

2.5 

Yes 

120 Gallows Hill Rd 

509000

AR

112 

Colonial 

2.5 

Yes 

935 Cleveland Ave 

439900

AR

130 

Bi-Level

1.5 

No 

1608 Central Ave 

374500

AR

114 

Split Level 

1.5 

Yes 

953 Wyandotte Trl 

2755000

UC

54 

Colonial 

19 

6+2 

Yes 

2 Trails End Court 

1550000

UC

227 

Colonial 

13 

3.5 

Yes 

542 Birch Avenue 

1289000

UC

91 

Colonial 

12 

3+2 

Yes 

310 Edgewood Avenue 

1275000

UC

474 

Colonial 

10 

3.5 

Yes 

926 Coolidge St 

1200000

UC

96 

Colonial 

3.5 

Yes 

1071 Minisink Way  

1195000

UC

84 

Ranch 

3+2 

Yes  

74 Tamaques Way 

1099000

UC

263 

Colonial 

4.5 

Yes 

965 Woodmere Dr 

1075000

UC

22 

Colonial 

Yes 

657 Fairmont Ave 

999000

UC

Colonial 

3.5 

Yes 

25 Sunnywood Dr  

949000

UC

68 

Colonial 

2+2 

Yes  

651 Shadowlawn Dr 

949000

UC

35 

Colonial 

10 

2.5 

Yes 

132 Lincoln Road 

899000

UC

31 

Colonial 

3.5 

Yes 

111 Prospect Street 2 J 

888000

UC

41 

Condo

2.5 

No 

509 Colonial Ave 

819900

UC

44 

Colonial 

10 

2.5 

Yes 

621 Cumberland St 

759000

UC

Colonial 

2.5 

Yes 

137 Elmer St  

739000

UC

11 

Colonial 

2.5 

Yes  

629 Vermont St 

729900

UC

105 

Colonial 

2.5 

Yes 

252 Edgewood Ave  

729000

UC

16 

Split Level 

2.5 

Yes  

1424 E Broad St 

700000

UC

46 

Cape Cod 

Yes 

534 Clark St  

700000

UC

78 

Colonial 

10 

1.5 

Yes  

722 Knollwood Ter 

699900

UC

116 

Colonial 

2.5 

Yes 

10 Plymouth Rd  

649900

UC

14 

Bi-Level 

No  

731 Warren St 

649900

UC

13 

Colonial 

2.5 

Yes 

741 Stevens Ave 

645000

UC

30 

Colonial 

2.5 

Yes 

722 Castleman Drive 

639900

UC

Colonial 

1.5 

Yes 

701 Girard Ave 

639500

UC

Colonial 

2.5 

Yes 

717 Marcellus Dr 

636000

UC

Split Level 

1.5 

Yes 

175 N Cottage Place  

635000

UC

Colonial 

Yes  

141 Clover St  

599000

UC

23 

Cape Cod

Yes  

447 Channing Ave 

599000

UC

Colonial 

1+2 

Yes 

924 Harding St 

599000

UC

72 

Colonial 

1.5 

Yes 

111 N Scotch Plains Ave  

499000

UC

37 

Split Level 

2.5 

Yes  

417 Washington St 

479500

UC

31 

Colonial 

1.5 

Yes 

126 Greene Pl  

475000

UC

32 

Colonial 

Yes  

51 Doris Pky 

469000

UC

37 

Colonial 

1.5 

Yes 

1 Lambert Cir  

465000

UC

Split Level 

2.5 

Yes  

224 Prospect St  

460000

UC

Townhouse

Yes  

535 1st St  

459000

UC

10 

Colonial 

10 

1.5 

Yes  

606 Benson Place 

450000

UC

32 

Cape Cod 

1.5 

Yes 

241 Lamberts Mill Rd  

450000

UC

18 

Ranch 

Yes  

321 Benson Pl 

425000

UC

Split Level 

Yes

927 Ripley Ave 

400000

UC

66 

Colonial 

Yes 

610 Stirling Pl 

214990

UC

19 

Bungalow

No 

 

Comments (2)

Anonymous
glenn

So when are the UC and AR going to be updated with the sale prices?

May 05, 2010 04:21 PM
#1
Scott Gleason
RE/MAX Select - Westfield, NJ
Westfield NJ New Homes Specialist

Hi Glenn, and thanks for your query.  On the 15th of every month I send a summary of all Westfield Activity, broken out by elementary school districts, to my VIP club.  To receive updates, just visit WelcomeToWestfield.com, click the VIP Lounge tab, and enroll no strings no charge.

May 06, 2010 08:28 AM