Maplewood/South Orange NJ Real Estate is Hot in the Last Quarter of 2013
Life is improving in the world of Maplewood/South Orange NJ Real Estate. With statistics showing the Average List to Sale Price Ratios of 98% for Maplewood and 96% for South Orange, industry professionals are delighted to engage motivated sellers at this time.
Home prices across the nation are steadily increasing as the unemployment rate decreases and the economy hints at amelioration.
“Realtor.com® National Housing Trend Report for September 2013 highlights a strong continuation of equilibrium-oriented trends identified last month,” according to Real Estate Data. "The year-over-year perspective shows a strong performance in median list price, decline in days on market and a return to year-ago inventory levels that signal a dramatic rebalancing compared to the beginning of this year.”
The most recent statistics available for Maplewood/South Orange NJ Real Estate from October, 2013 show the continuing trend for an increasing average sales price. In South Orange the Average Sales Price was $487,191 and it was almost as high in Maplewood at $484,972.
“A growing demand for housing will push up New Jersey home prices about 5 percent a year for the next several years,” according to appraiser Jeff Otteau. The state's slowly improving job picture is "like oxygen to the housing recovery," Otteau told agents at a recent real estate seminar.
Real Estate professionals will accurately tell you that this is an excellent time to put your home on the market. Statistics from September, 2013 demonstrate this upward swing in home sales as well, which further supports professionals’ recommendations to homeowners, who may have been thinking about selling, that this month presents an outstanding opportunity to get in while sales are moving quickly and profit margins are healthy.
This is especially true for Maplewood/South Orange NJ Real Estate when you compare 43 to 48 average days on the market to the national median of 93 days on the market for the month of September.
“Of particular note in September's figures are a handful of markets showing very fast-paced sales cycles, some at roughly half of the national median "days on market" figure of 93 days,” according to September 2013 Monthly Housing Summary provided by realtor.com.
Contact me so you do not miss out on the Maplewood/South Orange market in this last quarter of 2013!
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