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Millburn/Short Hills Home Sale Statistics: Short Hills, Millburn, Summit and Maplewood New Jersey home buying, real estate listings, and homes for sale in Essex County, NJ
Welcome > Home Sale Statistics > Millburn/Short Hills Home Sale Statistics ...



***Please note that we pull these Millburn and Short Hills home sale prices and stats from the GSMLS statistics, so "Original Listing Price" and "Days On Market" only include its current listing, not the full history of a listing. For example,if the listing agent took it off the market to change the price and put it back on as a new listing,or a listiing had previously expired and was relisted, the previous listing is not included in gsmls' Original List Price or Days On Market calculations.
 



If you'd like to know the complete history of a specific listing, we'll be happy to get you that information. Furthermore, when we pull comps for you prior to any home purchase, we will provide a more in depth analysis for you.
 

The Millburn-Short Hills market has really picked up. See my latest blog post on this... http://njexperts.com/2009/05/02/in-the-nj-midtown-direct-trainline-towns-95-homes-have-gone-under-contract-in-past-two-weeks/  

 

May 2009 Home Sale Prices and Market Stats 

Address Original List Price List Price at Sale Sale Price DOM Beds Baths Style
146  Glen Ave $489,900 $429,000 $400,000 132 3 2.1 CapeCod
8  Glen Ave $618,000 $569,000 $550,000 100 4 3.1 Colonial
50  South Terrace $649,000 $649,000 $670,000 17 4 2 CapeCod
44  Greenwood Drive $665,000 $665,000 $640,000 27 3 2.1 Colonial
8  Midhurst Road $799,000 $699,000 $693,000 88 4 1 Tudor
409  Old Short Hills $749,000 $749,000 $765,000 5 4 2.1 RanchExp
17  Park Circle $875,000 $799,900 $785,000 50 3 2 Colonial
25  Fairview Rd $878,500 $878,500 $850,000 29 3 3 Contemp
16  Parkview dr. $899,000 $899,000 $975,000 10 4 3.1 Colonial
7  Lawrence Dr. $999,000 $999,000 $940,000 26 3 3.1 Ranch
1  Sylvan Way $1,090,000 $1,090,000 $999,000 43 4 3.1 Ranch
94  Tennyson Rd $1,095,000 $1,095,000 $1,250,000 2 5 4 Colonial
77  Oakview Ter $1,195,000 $1,195,000 $1,110,000 15 4 3.1 Colonial
391  Hartshorn Dr. $1,575,000 $1,495,000 $1,445,000 34 4 3.1 Colonial
14  Union Way $2,295,000 $2,150,000 $1,950,000 190 5 5.1 Colonial
47  Harvey Drive $2,999,000 $2,999,000 $2,765,000 1 6 6.1 Colonial


AVERAGE DAYS ON MARKET:42   AVERAGE LISTING PRICE:$1,572,115

AVERAGE SALE PRICE:$1,099,143  % SALE PRICE / LIST PRICE:97%

Millburn/Short Hills Home sale Trends May 2008  thru May 2009

desc

May

June

July

Aug

Sept.

Oct.

Average Listing Price

$1,624,368

$1,676,628

$1,686,431

$1,761,248

$1,777,399

$1,805,556

Average Sale Price

$1,361,130

$1,029,568

$1,307,943

$1,307,931

$1,117,797

$1,247,615

%Sale Price to List Price Ratio

94%

99%

96%

95%

97%

96%

Days on Market

45

40

42

50

42

65

# Active Listings

167

159

140

110

119

123

# Closed Listings

23

29

35

55

16

13

desc

Nov.

Dec.

Jan.

Feb.

March

April

May 2009

Average Listing Price

$1,799,771

$1,619,188

$1,870,533

$1,722,362

$1,551,603

$1,531,063

$1,572,115

Average Sale Price

$839,778

$1,206,503

$1,473,583

$730,667

$1,281,250

$1,058,100

$1,099,143

%Sale Price to List Price Ratio

96%

96%

95%

98%

92%

93%

97%

Days On Market

56

51

65

48

139

63

42

# Active Listings

109

97

106

118

154

177

177

#Closed Listings

9

10

6

7

10

16

16

April 09

Active Listings

New Listings

Under Contract

Sold Listings

Average

SP/LP

# Beds

Avg LP

Avg LP

Avg LP

Avg LP

DOM

%

1

$216,300

$199,000

$189,900

$0

0

0%

2

$575,000

$724,500

$0

$0

0

0%

3

$734,174

$748,090

$571,933

$803,750

33

96%

4

$1,136,447

$1,016,727

$1,073,433

$886,857

38

99%

5+

$2,330,400

$2,256,118

$1,806,545

$1,988,333

64

96%

TOWN

$1,572,115

$1,430,900

$1,108,667

$1,099,143

42

97%

CLICK BELOW TO VIEW
  THE SALES AND STATS 
BY MONTH

April Market Stats March Market Stats February Market Stats January Market Stats

 

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. 

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Real Estate Tips
Financing Your Home >When Interest Rates Rise

Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

See All Tips In The "Financing Your Home" Category >
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Real Estate Trivia
Q 
During what months of the year do most people move from one home to another?

A 
Most moves occur between the months of May and September.
See More Real Estate Trivia >

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Sue Adler, REALTOR®, real estate agent and broker for Short Hills, Millburn, Summit and Maplewood New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Sue Adler Team
Keller Williams Realty

of Essex, Union, & Morris Counties
488 Springfield Ave
Summit, NJ 07901
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Meet Sue....

Sue not only grew up in the real estate business, but has sold over 900 homes & is still loving it!
She is the #1 Keller Williams Agent in New Jersey for dollar volume sold for 2005,2006,and 2007,and attributes a large part of this to the success she's had with Relocation Buyers.
Sue placed 5th out of all individual realtors in Keller Williams International (approx 75,000) for 2007 and was presented the "Top Performing Individual" award at the ceremony in Atlanta.
She is a "Certified Luxury Home Marketing Specialist" & a member of "Who's Who in Luxury Real Estate", which she earned for her performance in the high end market.
Sue’s working knowledge & understanding of every aspect of the real estate transaction surpasses most, & her creative knack for internet marketing keeps her team's listings in the limelight, which means the GREATEST EXPOSURE for your home.
Sue and her team promise to be your best advocates throughout the entire buying and selling process, with the goal of earning YOUR future referrals.
Need references? We've got HUNDREDS! Check out the "Client Testimonials" page on this site, and call or email Sue for your confidential interview.

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Keller Williams Realty real estate and homes for sale in Short Hills, Millburn, Summit and Maplewood New Jersey


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