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Harding NJ Homes For Sale / What Sold In Dec 08
By admin | January 7, 2009
Harding NJ Home Sales
Harding New Jersey is one of those real estate markets which is small and hard to really pin down. Many of the homes which sell in Harding NJ tend to be Luxury single family homes and in some cases Luxury condominiums. In any event the number of homes sold in December of 08 was 2 which is exactly the same as in December 07. Other towns around Harding have experenced fall offs from December of 07 though.
If you broaden things out a bit and look at the 12 months of 2008 vs 2007 you get a much better picture of what really has been going on. The Harding NJ real estate market had 59 home listings sell in 2007 where as the Harding NJ real estate market had just 29 home listings sell. That is almost a 50% drop off in actual sales. During that time, both the median and average sale price increase. Your thinking to your self, SAY WHAT!! That is right both stats for Harding NJ home sales prices actually increased.
How could prices of
Harding NJ Home Sales
be up for the year of 2008???
Here is how, there were 61 Harding NJ home listings withdrawn or expired from the market. Many of these were withdrawn and re-listed of course, and many of the expired Harding NJ home listings were re-listed ether with their same Harding NJ REALTOR or with a different Harding NJ REALTOR.
Ether way, most of these so called Harding NJ home sellers (the withdrawn & expired) were really not trying to sell their homes!! You may chastise me and say yes they were, their homes were listed for sale in gsmls. Yes they were listed in gsmls, but were they really priced to sell? Or were these homes priced to sit? I contend that they were priced to sit, the Harding NJ home seller was not motivated enough to price it so that the home would actually sell, so that is what actually happened, it did not sell.
20% of Harding NJ homes for sale
priced to sell!!
In this real estate environment about 20% of the homes listed for sale in most towns are actually priced to sell, and 80% are priced to sit. That is why you still see homes here and there getting full list price offers, and sometimes even bidding wars. Just last month there was a home in Madison New Jersey which sold for $60,000 above asking price with just 7 days on the market.
What should would be
Harding NJ home buyers do??
In this environment it is important to do your home work, and to work with a Harding NJ REALTOR who does his home work. A REALTOR who knows the market well, one who will be honest with you and tell you when he does not know something but will find out in a darn hurry, not one who shoots from the hip because he/she thinks they know everything.
Many would be Harding NJ home buyers find themselves paralyzed by the thought that the market may go down further. It is true, just like the stock market Harding NJ home prices could go down, but they could go up or sideways for that matter. Just like with the stock market, most home buyers who are now waiting because they think the market may come down further, are trying to time the market. Most investors who try to time the market wait to long and get a worse deal than if they would have just acted when the time was right for them.
The Harding NJ Home Sales
for December of 2008
Harding Twp. 8 Hemlock LN $425,000LP Town home 2br 2.1ba $400,000SP 23DOM
Harding Twp. 4 Walnut LN $459,900LP Town home 2br 2.1ba $445,000SP 105DOM
As you can see, it was the lower end of the market which attracted buyers in December. One of the Harding NJ Town homes sold after just 23 days for sale. Just goes to show you that priced right Harding NJ homes sell.
James Boyer
Harding NJ REALTOR
Harding NJ Real Estate Specialist
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
gsmls
Category: Harding |
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