Millburn Short Hills NJ Real Estate Trends

Real Estate Trends

Millburn Short Hills, NJ Real Estate Trends – Listing vs. Sold Prices

If a move to or from the Millburn Short Hills NJ area is in your furture, you may be wondering about the most recent Millburn Short Hills NJ Real Estate Trends. When we compare listing price and sold prices, it gives us a good indication of where the real estate market is heading. First, let’s understand the difference between a listing price and a sold price. The listing price is what the sellers are asking for their home, while the sold price is the amount a buyer is willing to pay. When we look at the chart below, we can see that over the past 12 months, the median listing price reached its highest point in January of 2016 and then began to decline. Listing prices rose slightly again in May and September but haven’t yet come near to the peak they saw in January. Median sold prices, on the other hand, have been much lower than the median listing prices for much of 2016; However, median sold prices saw a large spike in September of this year and continue to rise. Thinking of selling? Click here to find out what your home is worth.

Millburn Short Hills NJ Real Estate Trends

Millburn Short Hills NJ Real Estate Trends

Millburn Short Hills NJ Real Estate Trends – Market Inventory Trends

As we continue to examine the most Millburn Short Hills NJ Real Estate Trends, the chart below shows us how many active listings have been on the market in Millburn Short Hills NJ and how long those active listings have been on the market. The number of active listings in Millburn Short Hills NJ increased by 2.7% from the previous month.   The median number of days active properties have been listed is 53. This is significantly shorter than the national average. The number of sales in June dropped by 54.2% from the previous month.

Milburn Short Hills NJ Market Inventory Trends

Milburn Short Hills NJ Market Inventory Trends

Millburn Short Hills NJ Real Estate Trends – Learn More!

As we wrap up our look into the Millburn Short Hills NJ Real Estate Trends, some other interesting statistics to note are: $1,981,870 is the median listing price, 53 is the median days on market, and the number of active listings is 80.

If you find you still have questions regarding Millburn Short Hills NJ real estate trends, or you would like to see any of the homes for sale, please be sure to contact me. I can be reached by phone at 973.214.0691 or via email at Shannon@ShannonAronson.com. For more information about Millburn Short Hills NJ and our surrounding communities, please be sure to visit my website at www.NJRealEstateDirect.com.