Mendham NJ Real Estate Market Update APRIL 2014

Mendham NJ Real Estate Market Update APRIL 2014

 

Note: There are two separate reports for MENDHAM – one for the TOWNSHIP and one for the BOROUGH

 

The numbers for MENDHAM TOWNSHIP are mostly down for APRIL 2014:

  • The rolling 12 month sales volume increased slightly by (1) unit or 1% – Last year: April 2012 thru April 2013  (82 homes sold) as compared to the current period: April 2013 thru April 2014 with (83 homes sold).

  • The April year-to-date numbers decreased slightly by (4) units or 16% as compared to last year’s year-to-date total (25 homes sold) to the current period with (21 homes sold).

  • The monthly volume for the number of sales occurring last April (13 homes sold) as compared  to this April (7 homes sold) is down sharply by 46% or (6) units.

  • The volume of Pending Sales (Under Contract) as of the last day of April 2014 is at (5) units which is behind by (4) units or 44% as compared to last year at this same time which was (9) units.

 

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

 

Mendham_Township_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_April_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Mendham Township NJ YTD through April 2010 to 2014

 

Mendham_Township_NJ_Real_Estate_-_Closed_Sales_for_April_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Mendham Township NJ for April 2010 through 2014


 

Sales from Current Month

Mendham_Township_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

(Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

Mendham_Township_NJ_Real_Estate_-_Detailed List of Closed Sales_March_2014

Mendham_Township_NJ_Real_Estate_-_Detailed List of Closed Sales_February_2014

Mendham_Township_NJ_Real_Estate_-_Detaled List of Closed Sales - January 2014

(Double click on spreadsheet for an enlarged view)

 


 

The numbers for MENDHAM BOROUGH are mostly up for APRIL 2014:

  • The rolling 12 month sales volume increased significantly by (26) units or 48% – Last year: April 2012 thru April 2013  (54 homes sold) as compared to the current period: April 2013 thru April 2014 with (80 homes sold).

  • The April year-to-date numbers are up modestly by (2) units or 14% as compared to last year’s year-to-date total (14 homes sold) to the current period with (16 homes sold).

  • The monthly volume for the number of sales occurring last April (4 homes sold) as compared  to this April (5 homes sold) is up slightly by (1) unit or 25%.

The volume of Pending Sales (Under Contract) as of the last day of April 2014 is at (7) units which is behind by (3) units or 30% as compared to last year at this same time which was (10) units.

 

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

 

Mendham_Borough_NJ_Real_Estate_-_Year_to_Date_Closed_Sales_for_April_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Mendham Borough NJ YTD through April 2010 to 2014

 

Mendham_Borough_NJ_Real_Estate_-_Closed_Sales_for_April_2014_Bar_Graph

Year to Year Comparison of Homes SOLD in Mendham Borough NJ for April 2010 through 2014


 

Sales from Current Month

Mendham_Borough_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_April_2014

(Double click on spreadsheet for an enlarged view)

 


 

Sales from Prior Months

Mendham_Borough_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_March_2014

Mendham_Borough_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_February_2014

Mendham_Borough_NJ_Real_Estate_-_Detailed_List_of_Closed_Sales_-_Janruary_2014

(Double click on spreadsheet for an enlarged view)

 


 

While all real estate is local, there are many positive signs being seen all across the Northeast and in other major regional markets across the country. The next several months will be critical in determining if the recent upswing has any sustained staying power.  Most experts are anticipating a longer, more robust spring selling season mainly due to the harsh winter, which delayed a lot of buyers from starting their search as well as sellers who planned on getting their homes ready for the market.

In addition to the harsh winter, there is also 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.

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.

 

All Listings Currently FOR SALE in Mendham NJ

 

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

 All you need to know about Mendham NJ 

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