Peapack Gladstone NJ Real Estate Market Update DECEMBER 2014

The YTD numbers for Peapack Gladstone are down significantly YTD for DECEMBER as has been the case for most of 2014:

  • The rolling 12 month sales volume has dropped significantly for the sixth consecutive month by twelve (12) units or (35%) – Last year: December 2012 thru December 2013  (34) homes sold as compared to the current period: December 2013 thru December 2014 with (22) homes sold.

  • The December year-to-date numbers are down by twelve (12) units or (35%) when compared to last year’s total of thirty-four (34) homes sold to the current period with twenty-two (22) homes sold.  Note, this is the lowest YTD total through December in at least the past 5 years.

  • The monthly volume for the number of sales occurring in the month of December increased by two (2) units for a total of four (4) homes sold for the month as compared to last year’s total of two (2) units sold.

  • The volume of Pending Sales (Under Contract) as of the last day of December 2014 is unchanged at only one (1) unit from last year at this same time.

  • 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 December is at 8.6 months, which is up sharply by 4.7 months or (120%) when compared to last year’s inventory at 3.9 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!

    2014 has been significantly slower in terms of Closed Sales as compared to last year in Peapack Gladstone. Closed sales volume is off by 35% from what it was last year at this time. In fact, 2014 has been the slowest year in closed sales volume in at least the past five years. In addition, there is only a small backlog of homes that are Pending or Under Contract, which does not bode well for at least the short term.

    The overall inventory is above 6 months, (8.6) so buyers still have an advantage over sellers at this point in time. Interest rates are at 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 DECEMBER in 2014.  Also shown below is a bar graph illustrating the amount of homes that have SOLD Year-to-Date through DECEMBER over the past 5 years, followed by another graph showing a year to year comparison for homes SOLD in in the month of DECEMBER over the same 5 year period.

Peapack_Gladstone_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_December_2014_Bar_Graph

Year to Date Comparison of Homes SOLD in Peapack Gladstone NJ YTD through DECEMBER 2010 to 2014

 

Peapack_Gladstone_NJ_Real_Estate_-_Closed_Sales_for_December_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Peapack Gladstone NJ DECEMBER 2010 through 2014

 

 


 

Sales from Current Month

 

Peapack_Gladstone_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_December_2014

 

  (Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

 

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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