New Providence, NJ Real Estate Market Trends

New Providence, NJ

New Providence, NJ

New Providence, NJ Real Estate Market Trends – Listing vs. Sold Prices

As we take a look at the New Providence, NJ Real Estate Market Trends, let’s first understand the difference between “listing prices” and “sold prices”. The listing price is the price the sellers are asking for their home. The sold price is what the buyers are willing to pay. When we compare these price trends, we begin to understand where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.  From the chart below, we can see that the median listing prices have remained rather consistent in New Providence, NJ over the course of the past year; However, the median sold prices saw a peak in mid February 2016 and then dropped in late April.  Median sold prices began to rise in the New Providence, NJ Real Estate Market in  late May early June 2016 and seem to be remaining steady over the most recent quarter.  Click here to find out what your home is worth.

New Providence, NJ Price Stats October 2015-September 2016

New Providence, NJ Price Stats October 2015-September 2016

New Providence, NJ Real Estate Market Trends – Market Inventory Trends

As we continue to explore recent New Providence, NJ, Real Estate Market Trends, we can see from the chart below that the number of active listings in New Providence, NJ dropped by 19.2% from the previous month.  The median number of days active properties have been listed is 69.
The number of sales increased by 900% from the previous month.

New Providence, NJ Market Inventory Trends

New Providence, NJ Market Inventory Trends

New Providence, NJ Real Estate Market Trends – Additional Statistics

Looking further into the most recent New Providence, N Real Estate Market Trends, some additional helpful statistics for Single Family Homes and Condos in New Providence, NJ are as follows:  The median listing price is:  $588,060.  The Median Days on Market is:  69.  The number of Active Listings are:  32.

If I can arrange a showing for you at any of the wonderful properties for sale in New Providence, NJ, or if I can provide you with additional real estate information, please don’t hesitate to contact me. You can reach me by phone at 973-214-0691 or by email at Shannon@ShannonAronson.com.