Short Hills real estate NJ, Millburn real estate, Summit real estate and Maplewood real estate, home listings and homes for sale in New Jersey, Essex, Union and Morris Counties, home sale statistics - Sue Adler, REALTOR® Sue Adler REALTOR(r) for Short Hills, Millburn, Summit and Maplewood, New Jersey real estate, Essex, Union And Morris County, home sale statistics - NUMBER1EXPERT™ Sue Adler NUMBER1EXPERT(tm) for Short Hills, Millburn, Summit and Maplewood, New Jersey real estate, Essex, Union And Morris County, home sale statistics
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"Got us $100k over list price in slow market"
"My wife & I believe that there were three things that set Sue apart from other realtors.."
Robert & Dorothy Schoening, Short Hills NJ seller
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Madison Home Sale Statistics: Short Hills, Millburn, Summit and Maplewood New Jersey home buying, real estate listings, and homes for sale in Morris County, NJ
Welcome > Home Sale Statistics > Madison Home Sale Statistics ...


Sue feels that if you are in the market to buy or sell real estate in Short Hills, Millburn, Summit, Maplewood, South Orange, Chatham, Madison or Livingston, it is important to understand the trends in Active Listings, Days on the Market, Under Contract Sales & Closed Sales so that you can make an educated decision. 


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 THE SALES AND STATS
BY MONTH

Chatham Homesale Trends March 2007 – March 2008

Madison    Home sale Trends    June 2007 – June 2008

 

June 2007

Jul.

Aug.

Sept

Oct.

Nov.

Average Listing Price

$899,928

$888,984

$875,928

$809,280

$777,945

$855,182

 

Average Sale Price

$807,850

$877,547

$846,308

$846,075

$701,114

$817,491

%Sale Price to List Price Ratio

97%

98%

97%

100%

95%

97%

Days on Market

51

56

42

68

68

107

# of Active Listings

107

100

94

98

97

83

# of Closed Listings

20

20

13

12

9

11

 

 

Dec.

Jan.

Feb.

Mar.

April

May

June 2008

Average Listing Price

$859,990

$853,579

$833,462

$842,302

 

$909,983

$862,782

$909,446

 

Average Sale Price

$666,643

$1,106,980

$547,500

$641,414

$659,962

$685,950

$846,324

%Sale Price to List  Price Ratio

98%

93%

94%

94%

96%

96%

96%

Days On Market

31

72

100

65

44

71

49

# of Active Listings

71

76

87

83

91

91

93

# of Closed Listings

31

5

3

7

15

10

24

 

 

   

June 08

Active Listings

New Listings

Under Contract

Sold Listings

Average

DOM

SP/LP

# Beds

Avg LP

Avg LP

Avg LP

Avg LP

 

 

1

$352,500

$352,500

$0

$0

0

0%

2

$543,843

$459,900

$749,500

$0

0

0%

3

$545,848

$582,160

$482,175

$590,571

65

97%

4

$801,569

$753,164

$871,750

$777,643

43

97%

5

$1,892,639

$2,365,600

$1,185,000

$1,603,333

25

94%

TOWN

$909,446

$1,007,854

$668,560

$846,324

49

96%

 


Data compiled from the GSMLS. Deemed reliable, but not guaranteed.
 

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Real Estate Tips
Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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