Peapack Gladstone NJ Real Estate Market Update MAY 2015

 

The numbers for Peapack Gladstone are somewhat of a mixed bag for May 2015:

  • The rolling 12 month sales volume has dropped for the eleventh consecutive month down by one (1) unit or (4%) – Last year: May 2013 thru May 2014  (27) homes sold as compared to the current period: May 2014 thru May 2015 with (26) homes sold.

  • The May year-to-date numbers increased significantly by four (4) units or (100%) as compared to last year at this same time when four (4) homes sold vs the current period with eight (8) homes sold.

  • There were three (3) sales recorded in the month of May as compared to last year at this same time when zero (0) homes were sold.

  • The volume of Pending Sales (Under Contract) as of the last day of May 2015 is at two (2) units which is down by two (2) units from the year before when the volume was at four (4) 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 May is at 12.0 months, which is up moderately by 1.3 months or (12%) when compared to last year’s inventory at 10.7 months. Basically this indicates that the Peapack Gladstone market has a lot more inventory for Buyers to choose from and is even less “balanced” now than in prior years. The result of this condition will no doubt keep prices up (at least for the near term) as compared to other surrounding towns where there is less inventory available.

    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 Peapack Gladstone NJ Real Estate market!

    May has been a fairly positive month for Peapack Gladstone with increases in the monthly and year-to-date categories. The volume for Pending Sales decreased by two (2) units from four (4) units at this same time last year. Although, the rolling 12 month sales volume was down by one (1) unit or (4%), the decrease is less than what we have seen in the previous four months of 2015.  Inventory rose moderately by 1.3 months worth of supply or (12%) from this same time last year. It now stands at 12.0 months which is less than last month, but still out of balance. This will surely favor buyers and keep downward pressure on prices for at least the short term.

    In addition, interest rates are 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.

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

Peapack_Gladstone_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_May_2015_Bar_Graph

Year to Date Comparison of Homes SOLD in Peapack Gladstone NJ YTD through MAY 2011 to 2015

 

Peapack_Gladstone_NJ_Real_Estate_-_Closed_Sales_for_May_2015_Bar_Graph

Year to Year Comparison of Homes SOLD in Peapack Gladstone NJ MAY 2011 through 2015

 


 

Sales from Current Month

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2015

 

  (Double click on spreadsheet for an enlarged view)

 


 

 

Prior Months’ Market Update

 

Peapack Gladstone NJ Real Estate Market Update APRIL 2015

 

Peapack Gladstone NJ Real Estate Market Update MARCH 2015

 

Peapack Gladstone NJ Real Estate Market Update FEBRUARY 2015

 

Peapack Gladstone NJ Real Estate Market Update JANUARY 2015

 

 


 

Sales from Prior Months

 

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2015

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2015

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2015

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2015

 


 

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_December_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_November_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_October_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_September_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_August_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_July_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_June_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_May_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_January_2014

 

(Double click on spreadsheet for an enlarged view)

 


 

All Listings Currently FOR SALE in Peapack Gladstone NJ

 

 

Other interesting articles on Peapack Gladstone 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 Peapack Gladstone NJ including the schools, follow this link:

 All you need to know about Peapack Gladstone NJ 

For more information on Peapack Gladstone 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 Peapack Gladstone NJ or any of the surrounding towns in  Somerset County including, Basking Ridge, Bedminster, Bernardsville, and Far Hills, 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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