Real estate market update report for Summit, Union County, New Jersey

Real estate market update report for Summit, Union County, New Jersey

May was a strong sales month for real estate in Summit NJ.  31 Summit homes and condos were sold for a total sales volume of $26 million!

This compares very, very favorably with last May's sales, which numbered a mere 8 for a total of only $4.5 million - and only one sale over $1 million!

Average sales price for homes sold in Summit in May:  $842,072

Median sales price: $635,000

Low sales price:  $111,700 ... high sales price: $2,900,000 (what a spread!)

Average number of days on the market:  59

Average sales price to list price:  98.8%

Address        Sales Price     Days on market
161 BROAD ST    $111,700     9
133 SUMMIT AVE    $160,000   102
8 MIDDLE AVE   $230,000    36
417 MORRIS AVENUE    $280,000    190
37 CLARK ST    $310,000    110
777 SPRINGFIELD AVE   $355,000   60
9 HARVEY CT   $427,000    25
25 WILLIAM ST   $415,000     126
7 DENMAN PL    $410,000   39
79 Baltusrol Road    $392,500    324
14 VAN DYKE PL   $422,000    79
8 CLARK ST    $482,000   89
64 PARK AVE   $485,000    28
71 New England Avenue    $539,000    79
179 COLONIAL RD   $580,000    67
21 BUTLER PKWY    $635,000    8
113 ASHWOOD AVE    $640,000    38
29 EGGERS CT    $755,000    17
4 WEST END AVE    $787,000    100
150 WOODLAND AVE    $850,000     33
33 WINDSOR RD    $1,100,000    0
91 TANGLEWOOD DR    $1,275,000    9
98 DRUID HILL RD    $1,250,000     12
15 KINGS HILL CT   $1,200,050    14
10 ROBIN HOOD RD    $1,265,000   31
18 FERNWOOD RD    $1,308,000    98
31 RAMSEY DR    $1,405,000    15
43 OAK RIDGE AVE   $1,410,000    30
61 BEEKMAN RD   $1,575,000    17
57 COLT RD   $2,150,000    7
145 BEECHWOOD RD    $2,900,000   36

It is obvious that this year's Summit real estate market is much healthier than last year's and many more buyers are buying homes in Summit. 

If you're a Summit homeowner, this is definitely a good time to sell a home in Summit - particularly in the $1 million  and up category.  Note average days on the market for the Summit home sales over $1 million. 

And if you're a prospective homebuyer, don't wait for Summit home prices to continue to go up - which they will!  Come take a look at one of the fine homes for sale in Summit and let us help you get in at a good price!

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