Bernardsville NJ Real Estate Market Update JUNE 2014

 

The numbers for Bernardsville are down significantly for JUNE 2014 in 3 out of 4 categories. In fact, this was the slowest June in at least the past 5 years:

  • The rolling 12 month sales volume has decreased moderately by fourteen (14) units or (13%) – Last year: June 2012 thru June 2013  (111) homes sold as compared to the current period: June 2013 thru June 2014 with (97) homes sold.

  • The June year-to-date numbers are down dramatically again for the second month in row, thirty-seven (37) units or (61%) when compared to last year’s total of (61) homes sold to the current period with (24) homes sold. This is the lowest YTD total through June in at least the past 5 years.

  • The monthly volume for the number of sales occurring last June (18) homes sold, as compared  to this June (9) homes sold is down by nine (9) units or 50%.  Once again, the monthly total for sales during the month of June is the lowest it is has been in at least the past 5 years.

  • The volume of Pending Sales (Under Contract) as of the last day of June 2014 is running significantly higher at twelve (12) units as compared to last year at this same time at seven (7) units, which is up by five (5) units or 71%.  This is the only bright spot for the Bernardsville market this month.

 

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

While all real estate is local, there are many positive signs being seen all across the Northeast and in other major regional markets across the country. The next several months will be critical in determining if the recent upswing has any sustained staying power. The Bernardsville market has been struggling as of late with back to back months of significantly decreased sales as compared to last year.  Inventory is way up (133 homes listed For Sale as of 6/30/14) , which gives buyers the edge in terms of selection and lower prices.  The one bright spot is the amount of homes Pending (Under Contract) at this time as compared to last year is up, indicating a potential uptick in the short term.

Most experts are anticipating a longer, more robust selling season mainly due to the harsh winter, which delayed a lot of buyers from starting their search as well as sellers who planned on getting their homes ready for the market. While there has been an increase of new inventory entering the market, many of these sellers have priced their homes significantly above market value. They seem to be thinking that the “good old days” are back, which could not be further from the truth. Buyers are still in control of this market.

Interest rates remain at or near historic lows and prices are still relatively low.  Combine these two factors with a relatively high inventory of homes to choose from and you have the perfect conditions for a robust and steady housing recovery. The general state of the economy along with a high rate of foreclosures and distressed properties are expected to keep prices low for several more years as older inventory eventually gets cleared out.

Look below to see the individual homes that sold in Bernardsville NJ for the month of JUNE in 2014.  Also shown below is a year to year comparison bar graph for homes SOLD in the month of JUNE over the past 5 years, followed by another graph illustrating the amount of homes that have SOLD Year-to-Date through JUNE through the same period.

 

Bernardsville_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_June_2014_Bar_Graph

Year to Date Comparison of Homes SOLD in Bernardsville NJ YTD through JUNE 2010 to 2014

 

Bernardsville_NJ_Real_Estate_-_Closed_Sales_for_June_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Bernardsville NJ JUNE 2010 through 2014

 


 

Sales from Current Month

 
Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014

 

(Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

 

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014

 

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014

Bernardsville_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014

Bernardsville_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 Basking Ridge NJ including the schools, follow this link:

 All you need to know about Bernardsville NJ 

For more information on Basking Ridge 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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