Long Valley NJ Real Estate Market Update AUGUST 2014

The numbers for AUGUST 2014 in Long Valley are mostly down with the exception of Pending Sales:

  • The rolling 12 month sales volume decreased moderately by thirty-five (35) units or (18%) – Last year: August 2012 thru August 2013  (199) homes sold as compared to the current period: August 2013 thru August 2014 with (164) homes sold.  This was the first time in the past four months this number dipped into negative territory.

  • The August year-to-date numbers decreased significantly by twenty-five (25) units or (18%) as compared to last year’s unusually high total of (140) homes sold to the current period with (115) homes sold.

  • The monthly volume for the number of sales occurring last August (37) homes sold as compared to this August (15) homes sold is down drastically by (22) units or (59%).  This represents the second lowest volume for August in at least the past five (5) years.

  • The volume of Pending Sales (Under Contract) as of the last day of August 2014 is at seventeen (17) units which is significantly higher by seven (7) units or (70%) as compared to last year at this same time which was only ten (10) units. This marks an about face from last month’s volume in this category and is good news, at least for the short term.

  •  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 August is at 10.0 months, which is up sharply from 6.6 months from this same time last year or (67%).  Basically this spike in the number of homes recently listed For Sale indicates that the local market has shifted from a balanced market to one with an excess of inventory giving the advantage to Buyers for the time being.

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 Long Valley NJ Real Estate market!

Prices are expected to remain steady and interest rates continue to remain low.  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.

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


Year to Date Comparison of Homes SOLD in Long Valley NJ YTD through AUGUST 2010 to 2014



Year to Year Comparison of Homes SOLD in Long Valley NJ for AUGUST 2010 through 2014




Sales from Current Month




(Double click on spreadsheet for an enlarged view)



Sales from Prior Months


Long_Valley_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_-_Part_1 Long_Valley_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014_-_Part_2








(Double click on spreadsheet for an enlarged view)



All Listings Currently FOR SALE in Long Valley NJ


Other interesting articles on Long Valley 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 Long Valley NJ including the schools, follow this link:

 All you need to know about Long Valley NJ 

For more information on Long Valley 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 Long Valley NJ or any of the surrounding towns in  Morris County including MorristownMorris Township, Madison, the Chathams, the Chesters, and the Mendhams,the Somerset County towns of Basking RidgeBedminster, 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.

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