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Sue feels that if you are in the market to buy or sell real estate in Short Hills or Millburn, it is important to understand the trends in number of Active Listings, Average Days on the Market, and listing prices vs. sale prices so that you have the information to make an informed decision. We compile the home sales monthly so sign up if you'd like to receive the sales in your neighborhood via email.
CLICK BELOW TO VIEW THE SALES AND STATS BY MONTH
Millburn-Short Hills Homesale Trends March 2007 – March 2008
Millburn-Short HillsHome sale TrendsJune 2007 – June 2008
June 2007
Jul.
Aug.
Sept.
Oct.
Nov.
Average Listing Price
$1,792,178
$1,661,010
$1,729,304
$1,622,101
$1,646,459
$1,638,385
Average Sale
Price
$1,238,446
$1,674,731
$1,392,205
$1,242,250
$950,712
$1,132,429
%Sale
Price to List Price Ratio
98%
96%
97%
100%
96%
93%
Days on Market
66
63
46
56
55
78
# of Active
Listings
167
143
131
150
153
130
# of Closed
Listings
47
36
42
20
13
14
Dec.
Jan.
Feb.
March
April
May
June 2008
Average Listing Price
$1,783,695
$1,766,304
$1,760,174
$1,170,056
$1,612,035
$1,624,368
$1,676,628
Average Sale
Price
$1,059,956
$1,230,206
$1,536,550
$1,191,250
$1,313,188
$1,361,130
$1,029,568
%Sale
Price to List Price Ratio
97%
97%
97%
97%
94%
94%
99%
Days On
Market
66
41
72
67
37
45
40
# of Active
Listings
107
116
131
153
164
167
159
# of Closed Listings
17
20
10
18
17
23
29
June 08
Active Listings
New Listings
Under Contract
Sold Listings
Average
DOM
SP/LP
# Beds
Avg LP
Avg LP
Avg LP
Avg LP
1
$231,967
$0
$0
$0
0
0%
2
$442,980
$533,500
$0
$319,333
40
96%
3
$765,274
$867,311
$749,112
$941,914
28
100%
4
$1,121,470
$920,000
$1,134,091
$884,200
59
97%
5+
$2,665,801
$2,535,308
$1,927,909
$1,554,312
28
99%
TOWN
$1,676,628
$1,500,935
$1,190,177
$1,029,568
40
99%
Data compiled from the GSMLS. Deemed reliable, but not guaranteed.
Interested in a Complimentary Market Analysis of your Millburn or Short Hills NJ home? Or receiving each month's home sale price updates? Just fill out the form below and Sue will contact you shortly.
Investment Real Estate >Investment Property
Individuals who invest in real estate are doing very well these days. The potential for income, appreciation and possible tax savings makes investment property especially attractive.
It is important for you to get professional advice before you decide to buy investment property. You may want to start with a personal financial advisor who can help you set your investment goals. Your real estate agent can help you select a competitively-priced property that meets these goals, and can answer questions about why a particular property would be a solid investment. What features would make it easy to rent? What kind of maintenance expenses are you likely to incur? What will your cash flow be, and how will the tax savings affect your bottom line? While agents cannot predict how much a particular property will appreciate, they can give you the history of price trends in the market area.
- NUMBER1EXPERT™ 
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