Unwrapping the Clark Real Estate Market - December 2019

By
Real Estate Agent with Samsel & Associates 0790808

Clark, NJ,'s real estate market update for December, 2019.

Inventory:

In November, 16 single family homes were sold and 85 homes were offered for sale. This is the lowest active inventory seen in Clark since November of 2018. Low inventory often occurs as the days get shorter and this drop can be explained, at least in part, to seasonal variability. To search for listings, please click here.

More homes are offered for sale in the spring and summer than in the winter which explains the peaks and valleys in the red line above, the active listings over the last 6 years. The blue line represents sold listings in Clark over the last 6 years and the straight light blue line represents the trend in sales, eliminating the monthly variation and showing a long term trend of upwards sales. Buyers find Clark attractive, and homeowners benefit in the form of increasing sales prices and decreasing days on market.

 

Prices:

The average list price in Clark in November was $580,113 (compared to $543,747 in November of 2018) and the average sale price was $448,025 (compared to $494,818 in November of 2018).

When you look at the graph of home prices in Clark, it's obvious that there are tremendous variations from month to month. As a rule, prices are higher in the summer and lower in the winter due to supply and demand, but of course there are exceptions to this rule. One exception is extreme homes - those that sell for far below or far above the typical home sale in Clark. Short sales, foreclosures and homes in disrepair often sell for less than market average. The important thing to note in the graph are the straight lines which represents the long term trend, eliminating the seasonal variability and the variability brought on from extreme cases. The trend line continues to show a healthy improvement in prices in Clark over the past 7 years and the forecast is for prices to continue to increase. Homeowners are likely to see an increased return on investment as time goes on.

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 November was sold after only 48 days on the market, slightly slower  than the 12 month average of 43 days. Sellers who want to sell their homes quickly may have to adjust expectations or lower their asking price.

 

Of course, there are exceptions to this rule and the graph's dramatic variations are indicators of this. Seasonal variability often results in longer DOM in winter and shorter in summer, but the overall trend line above eliminates that seasonal variability.

Homes sell faster when they are:

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

 

Please click here to learn what this means for 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.

 

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~ 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
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New Jersey Union County Clark
Tags:
team zuhl
selling a home in clark
buying a home in clark
samsel and associates
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Rainmaker
1,684,794
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and up to date. Best of luck!

Dec 10, 2019 01:56 PM #1
Rainmaker
4,680,533
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Good evening Wayne and Jean,

What a nice creative way to keep your marketplace informed as to the real estate happenings in your area!  A

Dec 10, 2019 02:34 PM #2
Rainmaker
2,054,486
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Wayne and Jean Marie Zuhl - this is always valuable and up to date local information.  Buyers and sellers can't get any better.  

Dec 10, 2019 07:16 PM #3
Rainmaker
587,550
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara 😊

 

Dec 11, 2019 04:41 AM #4
Rainmaker
3,317,568
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Wayne and Jean Marie... as always you've used a wonderful seasonal lead-in to a market report. Love it!

Dec 11, 2019 05:10 AM #5
Rainmaker
3,509,102
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Jean Marie and Wayne - I can count on you for eye-catching post titles.  Another great seasonal presentation for Clark New Jersey real estate.  

Dec 11, 2019 05:29 AM #6
Rainmaker
3,443,103
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Wayne and Jean. You definitely unwrapped the Clark market. And you have sage advice:

Homes sell faster when they are:

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

 Enjoy your day!

Dec 11, 2019 05:38 AM #7
Rainmaker
5,620,294
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Dec 20, 2019 09:47 AM #8
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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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