Bernardsville NJ Real Estate Market Update SEPTEMBER 2015

 

The numbers for Bernardsville are mostly up for SEPTEMBER 2015:

  • The rolling 12 month sales volume increased by twelve (12) units or (14%) – Last year: September 2013 thru September 2014 with (86) homes sold as compared to the current period: September 2014 thru September 2015 with (98) homes sold.

  • The September year-to-date numbers are up by seven (7) units or (11%). Last year the volume was at sixty-one (61) units as compared to the current period with sixty-nine (69) units.

  • The monthly volume for the number of sales occurring last September was ten (10) homes sold, as compared to this September with two (2) homes sold is down by eight (8) units or (80%).

  • The volume of Pending Sales (Under Contract) as of the last day of September 2015 is down by four (4) units or (57%) and running lower at three (3) units as compared to last year at this same time with seven (7) units.

  • The supply of available inventory (the time it would take to sell all of the homes currently on the market) as of the end of September is at 13.5 months, which is down (2%) when compared to last year’s inventory at 13.8 months. Basically this indicates that the Bernardsville market still has more inventory for Buyers from which to choose. The result of this condition will no doubt keep downward pressure on the prices of homes in Bernardsville at least for the near term.

    Note: A “balanced” market is considered to have a 6 month supply. Anything below that amount would be considered a “low” inventory and thus less than balanced. This market condition typically favors Sellers.  Anything above a 6 month supply would result in a “high” inventory of homes on the market and typically favors Buyers.

 

Read below to find out the very latest information on your local Bernardsville NJ Real Estate market!

The numbers for September in Bernardsville are relatively solid following a strong August. The rolling 12 month sales volume has maintained it’s positive position and is still up by twelve (12) units or (14%) from last year. The year-to-date numbers through September were also positive, up by seven (7) units or (11%), however the monthly volume dropped sharply by eight (8) units or (80%). In addition, the amount of homes Pending or Under Contract fell by four (4) units or (57%), which may indicate this recent rally may soon run out of gas.

The inventory was down slightly from 13.8 months worth of supply last September to 13.5 months for this September, keeping the advantage in favor of buyers at this time.  On a positive note, interest rates remain at or near record lows with the general state of the economy slowly improving, however NJ is lagging behind it’s neighboring states and there is still a considerable volume of foreclosure properties winding their way through the process before we can safely say the market is on a solid footing for a complete recovery.

Another point worth mentioning regarding inventory are those sellers pricing their homes as if we are back in the boom days of the early 2000’s, which is certainly not the case. This tactic only serves to slow the market down and clutter it up with overpriced homes that will take a long time to sell. Unfortunately, the agents who take these listings are more to blame than the their seller clients, as they do this for a living and should know better.  As a result of all of this excess inventory, the buyers are definitely in control and will stay that way until things start moving again. With that said however, it is not an uncommon occurrence for homes to sell for close to or even above the List Price, sometimes with multiple bids, when sellers price their homes correctly from the very beginning.  By pricing too high in the beginning only means less money for the seller in the end.

Look below to see the individual homes that sold in Bernardsville NJ for the month of SEPTEMBER in 2015.  Also shown below is a graph illustrating the amount of homes that have SOLD Year-to-Date through SEPTEMBER through the same period followed by another graph showing the year to year comparison for homes SOLD in the month of SEPTEMBER over the past five (5) years.

Bernardsville_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_September_2015_Bar_Graph

Year to Date Comparison of Homes SOLD in Bernardsville NJ YTD through SEPTEMBER 2011 to 2015

 

Bernardsville_NJ_Real_Estate_-_Closed_Sales_for_September_2015_Bar_Graph

Year to Year Comparison of Homes SOLD in Bernardsville NJ SEPTEMBER 2011 through 2015

 


Sales from Current Month

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_September_2015

 (Double click on spreadsheet for an enlarged view)

 


Prior Months’ Market Updates

Bernardsville NJ Real Estate Market Updates

 


Sales from Prior Months

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2015

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2015

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2015

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2015

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2015

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2015

ernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2015

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2015


Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_December_2014

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_November_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_October_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_September_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2014

(Double click on spreadsheet for an enlarged view)

 


All Listings Currently FOR SALE in Bernardsville NJ

Other interesting articles on Bernardsville NJ

 

There are many factors that make up the differences in local real estate markets, even from town to town and especially in a small state such as New Jersey. This is why it is important for both buyers and sellers to obtain the latest “local” market data before they make any real estate decisions.

For more information on Bernadsville NJ including the schools, follow this link:

 

All you need to know about Bernardsville NJ 

 

For more information on Bernardsville NJ Real Estate, call me direct at (908) 267-2465, or email me at Bob@BobZorechakRealtor.com and I will be happy to discuss your specific real estate requirements.

 

How to find Listings on your own:

For listings or information on Bernardsville NJ or any of the surrounding towns in  Somerset County including, Basking Ridge, BedminsterFar Hills and Peapack Gladstone, the Morris County towns of Morristown, Morris Township, Madison, the Chathams, the Mendhams, the Chesters, and Long Valley, along with the Hunterdon County towns of Lebanon and Tewksbury Townships, simply use the search tool located on the right side of this page.

All listings are updated throughout the day so be sure to come back often for the most current information.  If you are unable to find what you are looking for using the search function on this website, or you are looking for a home that is unique with specific features, feel free to contact me direct and let me know exactly what they are.  My colleagues and I preview all kinds of properties each week and will be sure to identify just what you are looking for.  In addition, my office often features “exclusive” listings that are not released to the public that might be of interest to you as well.  I will be glad to answer all of your questions and arrange to show you the homes of your choice at a time convenient to your schedule.

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