Glass 98% full in Westfield NJ market

By
Real Estate Agent with RE/MAX Select NJ# 9483506

As a home marketing specialist, and Westfield NJ specialist, I must frequently excercise the discipline of averting my eyes from the real estate "meltdown" portrayed on national TV to look at our local market from various angles. 

Last week two sales closed in two days for over list price, provoking me to post this report on the state of the Westfield home sales market.  To mangle Mark Twain's message to Westfield buyers, sellers and homeowners: reports of our demise are grossly exaggerated. 

Looking over contracts signed in 2008 and already closed, there are 119 to date, with 23 at list price or better.  Avg Sale price: $754,031.  Avg SP % of LP: 97%.  Avg days on market 73 (including new homes listed a year or more before they can sell). 

Of the 23 star sales, 2 or 3 were simply underpriced, and proved the market insists on paying for value even when sellers or agents under price.  The other 20 were prepared right, staged right, priced right and promoted right, from the start.  In a competetive (buyers') market, "right the first time" is gold. 

If you would like to see the listings and pictures, please email  Service@ValueMyHomeNJ.com.  If you like to review lots of numbers please see below.  You may also request a quick over the web analysis of your home's value.

 If you would like a free, no strings consultation on how to join the ranks of successful sellers, please email Scott@LuxuryHomesNJ.com.  Thanks for reading my first post!

 

Address

OrigList

List

Sale

%

Contract

DOM

Grade School

923

Central Ave

399900

399900

475000

119%

2/25/2008

32

Mckinley School

904

Tice Pl

599000

599000

676000

113%

4/2/2008

4

Tamaques School

300

Roanoke Rd

749000

749000

800000

107%

1/28/2008

3

Franklin School

553

Prospect Street

835000

835000

886000

106%

2/11/2008

5

Franklin School

320

Clifton St.

529000

529000

550000

104%

5/30/2008

45

Tamaques School

412

Wells St

815000

815000

847000

104%

2/26/2008

14

Washington School

509

Colonial Ave

749900

749900

776000

103%

1/29/2008

6

Wilson School

126

W Madison Ave

299900

379900

390000

103%

2/19/2008

27

Franklin School

1000

Coolidge St.

725000

725000

740000

102%

5/29/2008

22

Washington School

120

W Dudley Ave

1250000

1250000

1275000

102%

4/7/2008

7

Franklin School

869

Dorian Road

599900

599900

610000

102%

3/10/2008

5

Mckinley School

403

Quantuck Ln

679000

679000

690000

102%

4/7/2008

6

Franklin School

235

Edgewood Ave

759000

759000

765000

101%

1/24/2008

19

Franklin School

939

Brown Ave

559900

544900

545000

100%

5/1/2008

43

Franklin School

744

Oak Ave

599900

579900

580000

100%

5/12/2008

46

Wilson School

564

Highland Ave

2099000

1890000

1890000

100%

5/12/2008

87

Wilson School

819

Kimball Ave

889000

889000

889000

100%

1/28/2008

5

Wilson School

719

Westfield Ave

629900

629900

629900

100%

2/21/2008

7

Tamaques School

654

Knollwood Terr

699000

675000

675000

100%

1/10/2008

43

Mckinley School

125

Cedar Street

839900

839900

839900

100%

4/2/2008

13

Jefferson School

916

Brown Ave

499900

499900

499500

100%

2/15/2008

18

Franklin School

300

Wells St

798000

798000

795000

100%

3/7/2008

45

Washington School

 

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