Homeowners and home buyers in Linden are smart to learn about the real estate market to help make an informed decision about when to buy and sell a home in Linden .
Here’s what’s been happening lately.
Inventory:
- 34 homes were sold in Linden in October, which is roughly equal to the 12 month average in Linden. After a peak of 43 homes in June, we've settled into a comfortable fall market.
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There are 137 homes offered for sale in Linden today - compared to the 12 month average of 164 homes and compared to 205 homes that were on the market in October of last year.
Active Listings Sold Listings October 2019 137 34 October 2018 205 37 12 month average 164 35.8
As inventory shrinks, demand for homes usually increases. This can help to raise prices and/or shorten the length of time homes are on the market.
Prices:
- Average sale price in Linden in October was $295,250- compared to October of 2018 when the average sale price was $262,146 and compared to the 12 month average sale price of $284,426.
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Average list price in Linden in October was $316,849- compared to October of 2018 when the average list price was $287,467 and compared to the 12 month average list price of $303,475.
Average List Price Average Sale Price October 2019 $316,849 $295,250 October 2018 $287,467 $262,146 12 month average $303,475 $284,426
Days on Market:
- In October, the average sold home in Linden was on the market for 67 days - compared to 68 days in August and 57 days in October of 2018.
Days on Market October 2019 67 October 2018 57 12 month average 59.9
Sales appears to have slowed down after a relatively quick summer. Sellers who want to stand out in the inventory will have to price their homes well so that they can sell fast.
What this means for buyers:
- Be educated. Learn what kind of home you want. Decide with your family members what you need in a home and what you want in a home.
- Be informed. Spend some time getting to know the inventory. Learn what homes look like in your price range. Learn what home features you can afford.
- Be ready. Have your pre-approval ready so that you can act quickly when you find your perfect home.
What this means for sellers:
- If you're on the fence about selling your home, this may be the perfect opportunity to get the most money in the shortest amount of time.
- Even in a shrinking inventory situation, you're still competing with other homes on the market. View the other homes that are offered for sale and make sure your home is the best one in its price range.
- Make your home available for potential buyers.
To see earlier market reports of Linden , please click here. If you’re thinking of buying or selling a Linden home, please call us at 908-917-4189.
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