Still a Buyer's Market in Linden!

By
Real Estate Agent with Samsel & Associates 0790808
https://activerain.com/droplet/KHk

Linden, NJ, is a city of about 40,500 people in southeastern Union County.

 

 

Buyers looking to purchase a home in Union County still have plenty to choose from in Linden - there are 265 active listings as of September 1st, 2012, but the inventory is slowly dropping.

 

 

 

 

 

 

Summer activity was high with 23 homes sold in August, dropping off to a still robust 18 in September.

 

 

 

 

 

 

A comparison between the sold listings and the active listings can be used to calculate the absorption rate. The absorption rate is the data upon which real estate professionals identify a market as a "buyer's market" or a "seller's market." If the absorption rate is above 6 months, there are more homes than there are buyers and the market is said to be a buyer's market. If the absorption rate is below 6 months, there are more buyers than there are homes and the market is said to be a seller's market. 

In Linden, the absorption rate is just under 12 - it would take 12 months of buying at the current rate to sell all of the inventory that is currently available. This creates a buyer's market - conditions are such that there are more homes available than there are buyers in Linden.

Luckily for sellers, the absorption rate has been dropping since July - that means the market is getting less favorable for buyers and more favorable for sellers. 

Home prices in Linden have  fluctuated about 22% over the past six months and are currently at the lowest they've been since May. 

 

If you're interested in buying or selling in Linden, NJ, Team Zuhl offers 2 realtors for the price of one!

 

For more information on the real estate market in Linden:

How do additional bathrooms or bedrooms affect market value in Linden? 

Free Market Analysis of Linden, NJ

Linden, NJ, Market Report - 1st half of 2012

Gorgeous Rental in Linden, NJ

Time to Sell in Linden! 


Posted by

 

 

 

~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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Topic:
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Rainmaker
5,264,594
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

It is the perfect time for home buyers to take advantage of very low mortgage interest rates.

Be well prepared for the incoming storm and be safe.

Oct 28, 2012 10:58 PM #1
Ambassador
1,470,575
Toni Weidman
Sailwinds Realty - Trinity, FL
26 Years Selling Homes in New Port Richey, FL

Great market report for Linden, Wayne and Jean. Hope you have a safe week!

Oct 28, 2012 11:11 PM #2
Rainmaker
3,124,284
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Buyers have homes to choose from in Linden and sellers need to price it right and be in good condition to get their homes sold...nice report!

Oct 29, 2012 12:25 AM #3
Rainmaker
896,586
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA
This is a fabulous and detailed analysis on the New Jersey market. Buyers should definitely choose you to represent them because of your knowledge of the area. I trust that you have survived hurricane Sandy and all the disaster that she has brought to the New Jersey State. You have my heartfelt prayers
Oct 30, 2012 11:05 AM #4
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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