AREA MARKET REPORT FOR SUSSEX BORO.,NJ JANUARY 2008

By
Real Estate Agent with Juba Team Realty

AREA MARKET REPORT FOR SUSSEX BORO., NJ JANUARY 2008

DURING THE MONTH OF JANUARY 2008 THERE WERE ONLY 2 PROPERTIES LIST FOR SALE IN THE BORO. THE FIRST PROPERTY IS ASKING $239,000.00 FOR A TOWN-HOME WITH 7 ROOMS 3 BEDROOMS 2.1 BATHS AND A 1 CAR GARAGE BUILT IN 1998. THE SECOND PROPERTY IS ASKING $329,000.00 FOR A RAISED RANCH WITH 8 ROOMS 4 BEDROOMS 2 BATHS AND A 1 CAR GARAGE BUILT IN 2004.

THREE PROPERTIES WERE REPORTED AS UNDER CONTRACT WITH AN AVERAGE ASKING PRICE OF $208,300.00 THESE PROPERTIES HAD BEEN ON THE MARKET FOR AN AVERAGE OF 110 DAYS.

ONE PROPERTY WAS REPORTED AS SOLD WITH AN ASKING PRICE OF $124,900.00 AND SOLD FOR $70,000.00 THIS PROPERTY HAD BEEN ON THE MARKET FOR 334 DAYS AND WAS A DISTRESS SALE.

ONE PROPERTY WAS REPORTED AS WITHDRAWN FROM THE MARKET WITH AN ASKING PRICE OF $335,000.00 AND HAD BEEN ON THE MARKET FOR 109 DAYS.

SUSSEX BORO., NJ IS A BEAUTIFUL AREA WITH MOSTLY OLDER HISTORIC SITE'S AND BUILDINGS. THE SUSSEX COUNTY AIRPORT IS NEARBY FOR THE PRIVATE PILOT AND HELICOPTERS FLY IN AND OUT. THE TOWNS OFFERS THEATER-PLAYS, AND SOME PRETTY INTERESTING SHOPS. THERE IS A CHURCH ALONG MAIN STREET BUILT IN THE 1800'S AND IS STILL IN USE TODAY.

THERE IS CITY UTILITIES SERVICING THE TOWN HOMES AND SOON THE TOWN WILL BE SELLING ITS WATER TO NEARBY MUNICIPALITIES SO THEY CAN LOWER THERE SEWER FEES TO RESIDENTS. NEWER CONSTRUCTION IS IN THE PLANNING STAGES TO GO BEHIND THE A & p SO EMPLOYMENT WILL BE GOING UP.

IF YOU ARE CONSIDERING BUYING OR SELLING ANY REAL ESTATE IN THE AREA CALL ME, I CAN HELP WITH ALL YOUR NEEDS.

Comments (8)

Mesa, Arizona Real Estate Mesa Arizona Realtor
Homes Arizona Real Estate LLC - Mesa, AZ
AzLadyInRed

Gary, it appears that your area doesn't have a huge inventory. Is that making a difference as far as finding a home for a buyer?

Pepper

Feb 16, 2008 04:23 AM
Timothy Schwartz
Century 21 Mack Morris Iris Lurie - Marlboro Twp, NJ
Gary, what are they planning on building behind the A and P?  Sing families? Townhomes?  Senior housing?
Feb 17, 2008 01:03 PM
Gary J. Rocks
Juba Team Realty - Jefferson Township, NJ

Teri

Sussex County is made up of many towns, this is just a small fraction of the area. There is plenty of inventory throughout.

Feb 17, 2008 01:10 PM
Gary J. Rocks
Juba Team Realty - Jefferson Township, NJ

Tim

It is my understanding that single family homes are going to be constructed.

Feb 17, 2008 01:12 PM
Timothy Schwartz
Century 21 Mack Morris Iris Lurie - Marlboro Twp, NJ
Gary, any idea on how many homes are going up?  What high school do the Sussex kids go to?
Feb 17, 2008 01:29 PM
Gary J. Rocks
Juba Team Realty - Jefferson Township, NJ

Tim

Two hundred plus homes.

Feb 17, 2008 01:58 PM
Diane Aurit
LKN Realty, LLC - Mooresville, NC
Lake Norman Real Estate
I too thought what a small amount of inventory but it sounds like you have more in the entire area.  We have 1400 homes for sale in Lake Norman and only 64 sold last month:(
Feb 18, 2008 12:40 AM
Gary J. Rocks
Juba Team Realty - Jefferson Township, NJ

Diane

We cover more than one town, I have been posting about them. I have been going by the town names.

Thanks for checking in.

Feb 19, 2008 04:21 AM