In our last look at Cranford NJ Real Estate at the end of March, I predicted that the 2nd Quarter Sales to "exceed" the 1st quarter sales. Seasonally, this is almost always the case, but with the first time home buyer tax credit in place through April 30, combined with historically low interest rates, and favorable pricing I expected an even greater surge in market activity.
As we complete the 2nd month of the quarter, it is quite apparent that the 2nd Quarter of 2010 will show a sizable spike in sales activity. In the entire 1st quarter, there were 29 closed sales in Cranford. So far in the 2nd quarter, there were 10 closed sales in April, 9 closed sales in May, and currently 43 listings under contract. This is a staggering number, as most of these properties will likely close before June 30, to comply with the tax credit requirements, thus more than doubling the number of transactions over the first quarter, and increasing 24 percent when compared to the same time period 1 year ago.
To see the full article and the actual numbers click Cranford NJ Real Estate Market Report
Thanks for reading!
Team Carroll of RE/MAX Supreme