55+ Articles

Get ahead of the residential real estate market drivers in Somerset County, New Jersey, with Coldwell Banker Residential Broker sales associate, Joe Peters. Joe's monthly report walks people through the economic conditions and trends that influence our local markets.  You will come away knowing what is happening and more importantly, why it is happening.

Get ahead of the residential real estate market drivers in Somerset County, New Jersey, with Coldwell Banker Residential Broker sales associate, Joe Peters. Joe's monthly report walks people through the economic conditions and trends that influence our local markets.  You will come away knowing "what" is happening and more importantly, "why" it is happening. As a result, you will be better informed to make home buying and selling decisions.

Get ahead of the residential real estate market drivers in Somerset County, New Jersey, with Coldwell Banker Residential Broker sales associate, Joe Peters. Joe's monthly report walks people through the economic conditions and trends that influence our local markets.  You will come away knowing what is happening and more importantly, why it is happening. As a result, you will be better informed to make home buying and selling decisions.

Based on the last full month's contract sales, statistics show a supply of approximately four months. Normal market conditions average four to six months in Somerset County.  Units going under contract averaged 51 days on the market. 212 properties went "under contract" in April, quite a bit down from 329 in the prior month. Newly listed properties in the same period totaled 204, also way down from 360 in the prior month.