Berkeley Heights NJ Market Activity - February 2011

By
Real Estate Agent with Weichert, Realtors

Closed Sales in February

There are now three new happy homeowners in Berkeley Heights in February. The following properties have closed this month:

48 La Secla Pl $359,000 $313,000
43 Holly Glen Ln $589,000 $565,000
12 Roosevelt Ave $669,000 $686,900

Twenty-one new listings came ont the market this month, and 13 listings went under contract. Three of the new listings that came on the market this month, are now under contract. To see the new listings that have come on the market, visit Berkeley Heights Homes 4 Sale .

Absorption Rate

Market Absorption Rate is basically a way to help us determine how much market activity there is at a given time in the housing market. A market absorption rate of less than 5 months is considered a Seller's Market, between 5-6 months a Normal or Balanced Market, and inventory leveles greater than 6 months indicates a Buyers's Market. There are currently a total of 48 homes on the market in Berkeley Heights. Fourteen properties went under contract in the last 30 days, so that gives us a current market absorption rate of 3.4 months in Berkeley Heights.

If you are considering a move into or out of Berkeley Heights, please check check out my website at Berkeley Heights Homes 4 Sale .

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