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.
Based on the last full month's contract sales, statistics show a supply of approximately six months. Normal market conditions average four to six months in Hunterdon County. Units going under contract averaged 80 days on the market (23% higher than last month). 99 properties went "under contract" in April, quite a bit down from 174 in the prior month. Newly listed properties in the same period totaled 103, also way down from 174 in the prior month.
Somerset County's Real Estate Market Conditions April 2020. What a difference a month makes ! COVID-19 has totally upset our local real estate market. Find out how...
Somerset County's Real Estate Market Conditions April 2020. What a difference a month makes ! COVID-19 has totally upset our local real estate market. Find out how...
Somerset County's Real Estate Market Conditions March 2020
Hunterdon County's Real Estate Market Conditions March 2020
Hunterdon County's Real Estate Market Conditions February 2020
Somerset County's Real Estate Market Conditions February 2020
Hunterdon County's Real Estate Market Conditions January 2020