I couldn't bear it if you didn't read September's Clark Update!

By
Real Estate Agent with Samsel & Associates 0790808

Team Zuhl has been studying the home sales in Clark for many years and is prepared to help you understand how much your home in Clark is worth.

Did you miss the Clark real estate market report earlier this month? 

 

 

Here's a quick summary of what we learned this September:

Inventory:

In August, 24 single family homes were sold and 104 homes were offered for sale, up  from 99 homes offered for sale in August of 2018 and compared to the 12 month average of 97 homes offered for sale.

  Active Listings Sold Listings
August 2019 104 24
August 2018 99 18
12 month average 97.31 15.69

Inventory up typically results in prices down due to the law of supply and demand.

Months of Inventory:

Realtors use an analysis called Months of Inventory to evaluate the real estate market. The Months of Inventory is equal to how long it would take to sell the existing inventory if no new houses were put on the market.  When the Months of Inventory is below four months, realtors call it a seller's market because the supply is relatively low so sellers have a stronger position in negotiations between a buyer and a seller. When the Months of Inventory is above seven months, realtors call it a buyer's market because the supply is relatively high and buyers have a stronger position in negotiations. Months of Inventory between four and seven is considered a normal market with a good balance of buyers and sellers.

  Months of Inventory
August 2019 4.33
August 2018 2.61
12 month average 7.72

The last few months of sales in Clark have been a little unstable and buyers end the summer with a bit of an edge. An increase in inventory contributes to this and prices may drop.

Prices:

The average list price in Clark in August was $568,693 (compared to $580,329 in August of 2018) and the average sale price was $494,542 (compared to $501,944 in July of 2018).

  Average List Price Average Sale Price
August 2019 $568,693 $494,542
August 2018 $580,329 $466,830
12 month average $542,582 $469,082

 

Days on Market:

One of the questions we're asked most often is how long it takes to sell a home in Clark. The average sold home in Clark in August was sold after only 31 days on the market, significantly faster than the 12 month average of 41 days. Buyers who are out and looking for houses are ready to make a move quickly!

  Days on Market
August 2019 31
August 2018 37
12 month average 41.08

Homes sell faster when they are:

  1. In pristine and updated condition,
  2. Are marketed aggressively, and
  3. Are priced correctly.

 

Please click here to learn how this affects buyers and sellers in Clark.

To read more about the real estate market in Clark, please read our earlier market reports here.  For more information on how Team Zuhl can help you, please click here or call us at 908-917-4189.

 

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:
Real Estate Market Trends
Location:
New Jersey Union County Clark
Tags:
team zuhl
selling a home in clark
buying a home in clark
clark real estate market report
samsel and associates
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Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Another great market report on Clark. I see your inventory is increasing, but average home prices are as well. 

Sep 18, 2019 10:57 AM #1
Rainmaker
1,942,538
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Wayne and Jean Marie Zuhl - a very good education here for both buyers and sellers.

Sep 18, 2019 11:29 AM #2
Rainer
451,122
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Love the title!

Thanks for the update, all the best to you as you get many of these properties listed and sold.

 

Sep 18, 2019 04:24 PM #3
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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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