Clark, NJ, is a beautiful town easily accessibly by the New Jersey Parkway in southern Union County. The township is named for Abraham Clark who was a signer of the Declaration of Independence. New Jersey Monthly magazine ranked Clark as its 33rd best place to live in its 2008 rankings of the "Best Places To Live" in New Jersey.
The housing market in Clark reflects a picture not unlike that in the rest of the region. We analyzed data from Clark from January 2005 through January 2012 and discovered two trends.
The first most obvious trend is that the number of active listings and the number of days a home remain on the market (DOM) correlate - as one increases, so does the other, and vice versa. This is logical because the more homes on the market, the longer each one takes to sell.
The second trend is that the peak of the housing inventory in Clark seems to have been hit between 2007 and 2010. From 2005 through 2007, the inventory increased, as did days on market. This is a typical buyers market. From 2010 through 2012, the inventory has slowly but steadily decreased, and homes are selling faster. This may be an indication that the long-standing buyers market is coming to a close.
For more information on housing trends in Clark, NJ, or anywhere in Union County, please call us at 732-499-0030 x 244.