Madison NJ Real Estate – Closed Sales for MAY 2012
May’s Closed Sales volume was up for the month, as well as for the Year-to-Date. Read here to find out the very latest information on your local Madison NJ Real Estate market!
June 19, 2012 – Closed Sales for the month of May were up dramatically in Madison NJ. Sales increased by 150% for the month of May as compared to this same period last year, (10 homes sold in 2012 vs 4 sold in 2011). The Year-to-Date figures through May were also up moderately by 5% with 39 homes sold in 2012 vs 37 for the same period in 2011.
It is still too soon to tell if this positive trend will be a lasting one, although the pending sales volume for June looks like the market will maintain its current pace at least for the short term.
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 Madison 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 Madison, NJ or any of the surrounding towns in Morris County including Morris Township, Morristown, the Chathams, the Chesters, the Mendhams 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.