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.
- 26 homes were sold in Linden in December, 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 2019 saw only 25 sales. Sales ought to pick up once the weather picks up.
- There are 112 homes offered for sale in Linden today - compared to the 12 month average of 152 homes and compared to 163 homes that were on the market in December of last year.
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.
Inventory and sales are variable monthly as shown by the peaks and valleys in the graph above. Some variability can also be attributed to homes that are more desirable or less desirable than the average Linden home. Homes that are in exceptional condition or well priced won't stay on the market long, whereas distressed properties or homes in disrepair stay around longer and cause data variations. Even conditions such as weather affect home sales - fewer buyers are out looking on days that are oppressively hot or rainy.
Linden is currently experiencing a normal market holding 4.31 months of inventory. For an explanation of Months of Inventory, please check out our Linden Real Estate Information page here.
- Average sale price in Linden in December was $294,919 -roughly equal to the 12 month average of $294,437.
- Average list price in Linden in December was $318,355- compared to December of 2018 when the average list price was $288,761.
Linden has had a slow but steady improvement in prices for several years. The important thing to note about the graph is not the variability but rather the overall long term trend which is represented by the straight line which shows a healthy increase in home prices in Linden over the past seven years.
Days on Market:
- In December, the average sold home in Linden was on the market for 37 days - compared to the 12 month average of 55 days and compared ot the 80 days it took to sell a house at this time last year.
Sales appear to be just as quick as they were this summer. Sellers who want to stand out in the inventory will have to price their homes well so that they can sell fast.
Please visit our Linden Real Estate Information Page to understand 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.