Market Update for Metuchen and Edison NJ

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

Years ago before I was a Realtor, searching for a first home in Metuchen NJ, the geography of Metuchen Edison was succinctly explained by our agent:  Edison is the donut, and Metuchen is the hole in the donut.  In fact, Metuchen, the "main street community" built up around the train station,  seceded from the larger surrounding township at the turn of the century when  the farmers didn't want to be taxed to support electrification etc. of the downtown. Eventually, Metuchen evolved into a quaint boro of about 13,000 souls and Edison became a huge sprawling town aspiring to be a city, of 100,000.  But it take both to comprise the whole donut, so I report these data on one chart.

Market Snapshot: 2011 Q1 and Q2        
         
Edison New Sales Units Avg SP Inventory
2010 598 223 414059  
2011 577 164 384333 10.3 Months
Change -3.50% -26.50% -7.20%  
Metuchen New Sales Units Avg SP Inventory
2010 118 60 435,160  
2011 114 44 391,543 5.4 Months
Change -3.40% -26.70% -10.00%  

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