Chatham NJ Real Estate – Closed Sales for MAY 2012 Chatham Township
Closed Sales for MAY are down by 43% as compared to last May. Year-to-Date sales were also down 34% through this same period. Read here to find out the very latest information on your local Chatham NJ Real Estate market!
June 19, 2012 – Closed Sales in Chatham Township NJ decreased by 43% for the month of May as compared to this same period last year (12 sales in May 2012 as compared to 21 in May 2011). It is worth noting that May’s volume for 2011 was higher than normal as compared to the 3 previous years and that a drop off is not necessarily unusual. Year-to-Date sales were also down through May (34%) as compared to the same period last year (39 sales in 2012 vs 59 sales in 2011).
The short term outlook appears to be more of the same with a similar number of homes expected to close in June, however pending sales for July look a bit more encouraging.
There has rarely been a time where both prices and interest rates were so 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 this inventory eventually gets cleared out.
There is a certain amount of “pent-up demand” on both the buying and selling side of this market as many buyers and sellers have been sitting on the fence for several years now and see that the pendulum is beginning to swing in the other direction and as a result, they are taking action.
Look below to see the individual homes that sold in Chatham Township NJ for the month of MAY in 2012. Also shown below is a year to year comparison bar graph for homes SOLD in the month of MAY over the past 5 years, followed by another graph illustrating the amount of homes that have SOLD Year-to-Date through May through the same period.
(Double click on spreadsheet for an enlarged view)
For similar information on the prior period, please go to:
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.
How to find Listings on your own:
For listings or information on Chatham NJ or any of the surrounding towns in Morris County including Morristown, Morris Township, Madison, the Mendhams, the Chesters, and Long Valley, the Somerset County towns of Basking Ridge, Bedminster, Bernardsville, Peapack Gladstone and Far Hills, 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.