Unwrapping the Linden Real Estate Market - December 2019

By
Real Estate Agent with Samsel & Associates 0790808

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:

  • 25 homes were sold in Linden in November, which is significantly lower than the 12 month average of 35 homes per month.  Slower sales are not unusual for this time of year. November of 2018 saw only 28 sales.
  • There are 122 homes offered for sale in Linden today - compared to the 12 month average of 158 homes and compared to 190 homes that were on the market in November of last year.
      Active Listings Sold Listings
    November 2019 122 25
    November 2018 190 28
    12 month average 158.1 35.2

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.

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.

Linden is currently experiencing a normal market holding 4.88 months of inventory.

Prices:

  • Average sale price in Linden in November was $302,073- compared to November of 2018 when the average sale price was $222,685  and compared to the 12 month average sale price of $288,040.
  • Average list price in Linden in November was $318,575- compared to November of 2018 when the average list price was $288,761 and compared to the 12 month average list price of $305,550.
      Average List Price Average Sale Price
    November 2019 $318,575 $302,073
    November 2018 $288,761 $222,685
    12 month average $305,550 $288,040

 

Linden has had a slow but steady improvement in prices for several years. The important thing to note about real estate prices in Linden is not the variability but rather the overall long term trend which shows a healthy increase in home prices in Linden over the past seven years.

Days on Market:

  • In November, the average sold home in Linden was on the market for 34 days - compared to the 12 month average of 58 days and compared ot the 79 days it took to sell a house at this time last year.

  •   Days on Market
    November 2019 34
    November 2018 79
    12 month average 58

Sales are not slowing down yet this winter. Buyers will need to be ready to make an offer when they find the right house. Sellers who want to stand out in the inventory will have to price their homes well so that they can sell fast.

Please click here to learn what this means for buyers and sellers.

 

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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~ 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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Tags:
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Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Jean Marie and Wayne - your post titles have a "pun-ny" angle that are sure to be eye-catching.  Good job.  

Dec 28, 2019 01:11 PM #1
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Hello Jean Marie and Wayne, I love your titles, and I hope they turn into inquiry calls and sales.  A

Dec 28, 2019 02:22 PM #2
Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Jean Marie and Wayne - You have a great presence here on ActiveRain and a unique marketing style all your own. Buyers and Sellers would be wise to use you when buying and/or selling. You truly don't follow the crowd and your success is real. 

Dec 30, 2019 07:54 AM #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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