Chester NJ Real Estate Market Update NOVEMBER 2014

Note: There are two separate reports for CHESTER - one for the TOWNSHIP and one for the BOROUGH

The numbers for CHESTER TOWNSHIP mostly up in several key categories for NOVEMBER 2014:

• The rolling 12 month sales volume remained virtually unchanged increasing by three (3) units or (3%) - Last year: November 2012 thru November 2013  there were (110) homes sold as compared to the current period: November 2013 thru November 2014 with (113) homes sold.

• The November year-to-date numbers increased modestly by nine (9) units or (9%) as compared to last year's total of (96) homes sold to the current period with (105) homes sold. This is the highest volume for the month of November YTD in at least the past five (5) years.

• The volume for the month of November is up substantially by five (5) units or (125%) as compared to last year's total of four (4) homes sold to the current period with nine (9) homes sold.

• The volume of Pending Sales (Under Contract) as of the last day of November 2014 is at seven (7) units, which is down sharply by seven (7) units or (50%) less than last year at this time when there were fourteen (14) homes Pending.

• The supply of available inventory (the time it would take to sell all of the homes currently on the market) as of the end of November is at 8.0 months, which is up slightly from 7.5 months from this same time last year.  Basically this indicates that the local market has a moderate amount of excess inventory giving a slight advantage to Buyers.

Note: A "balanced" market is considered to have a 6 month supply. Anything below that amount would be considered a "low" inventory and thus less than balanced. This market condition typically favors Sellers.  Anything above a 6 month supply would result in a "high" inventory of homes on the market and typically favors Buyers.

Look below to see the individual homes that sold in Chester Township NJ for the month of NOVEMBER in 2014.  Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through NOVEMBER over the past five (5) years, followed by another graph showing a year to year comparison for homes SOLD in in the month of NOVEMBER over the same 5 year period.