Clark Real Estate - Let's have a heart to heart

By
Real Estate Agent with Samsel & Associates 0790808

Let's take a look at how the real estate market in Clark performed in January.

Inventory:

In January, 12 single family homes were sold and 75 homes were offered for sale in Clark. This is the lowest active inventory seen in Clark since February 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 visit WayneZuhl.com.

clark nj real estate inventory

More homes are offered for sale in the spring and summer than in the winter which explains the peaks and valleys in the black line above, the active listings over the last 7 years. The blue line represents sold listings in Clark over the last 7 years and the straight 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.

Realtors use an analysis called Months of Inventory to evaluate the real estate market. The data shows that Clark is currently experiencing a seller's market with low (and decreasing) inventory. There are currently 6.25 months of inventory available in Clark. If no other homes came on the market, the inventory would be 0 in 6.25 months. For a more in depth analysis of Clark's months of inventory, please visit Sell My Clark home here.

Prices:

The average list price in Clark in January was $559,155 (compared to $517.076 in January of 2019) and the average sale price was $593,667 (compared to $385,000 in January of 2019).

real estate sale prices in clark nj

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 January was sold after 38 days on the market, noticably faster  than the 51 days it took to sell a house in December. Is the spring market starting early?

how long does it take to sell a home in clark nj

 

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 visit Sell My Clark Home to learn what this means for sellers. 

To search for listings, please visit WayneZuhl.com.

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:
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Rainmaker
3,321,147
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Wayne and Jean Marie... as always a great graphic to get your message noticed.

Feb 10, 2020 07:33 AM #1
Rainmaker
3,314,591
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Monday and thanks for the information on your market report in your area. 

Feb 10, 2020 07:46 AM #2
Ambassador
3,556,130
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Nice update on Clark. These local reports are invaluable for those looking in the area.

Feb 10, 2020 02:03 PM #3
Rainmaker
2,056,977
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Wayne and Jean Marie Zuhl - it looks like the Spring Market is starting early I guess.  Thank the groundhog.

Feb 10, 2020 02:37 PM #4
Rainmaker
589,450
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 😊

Feb 10, 2020 06:38 PM #5
Rainmaker
5,223,977
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Wayne and Jean Marie Zuhl  that's a nice postcard.... you'll make the phone ring with that... if anyone needs to know how much equity they have, call Wayne and Jean Marie for that Free Market Analysis.... I surely would.

Feb 11, 2020 06:02 AM #6
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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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