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Morristown NJ Condo Sales 08 vs 07
By admin | November 20, 2008
Morristown NJ is a hotbed of activity when it comes to condos. There have been several successful new condo developments over the past few years. There is currently another condo project under construction at the Morristown Green. This new project is called 40 Park Condos and the builder is claiming 50% of the condos are already spoken for.
Condos in Morristown New Jersey range from the very affordable 1 and 2 bedroom types, too the somewhat more expensive high rise type condos such as those at Vail Commons, to the still affordable smaller condos at 40 Park, too the Luxury condos at Vail Mansion, DeHart Place, and 40 Park Condos. The condos at Morris Place are also very nice existing condos, which normally have one or two availible on the resale market.
Here are the Morristown NJ Condo statistics 11 month of 2007 vs 2008
Morristown NJ Condo Sales 2007 — 55
Morristown NJ Condo Sales 2008 — 67
Morristown NJ Condo Average List Price 2007–$358,925
Morristown NJ Condo Average List Price 2008–$417,738
Morristown NJ Condo Average Sold Price 2007–$348,894
Morristown NJ Condo Average Sold Price 2008–$400,659
Morristown NJ Condo Median List Price 2007–$349,000
Morristown NJ Condo Median List Price 2008–$359,000
Morristown NJ Condo Median Sold Price 2007–$325,000
Morristown NJ Condo Median Sold Price 2008–$344,000
Morristown NJ Condo Average Days To Sell 2007–80.1
Morristown NJ Condo Average Days To Sell 2008–88.8
As you can tell, the condo market in Morristown New Jersey seems to be holding up fairly well. Part of that is the new construction condos at Vail Commons and Vail Mansion being delivered to their buyers, but also many of the condos in Morristown tend to be price right for first time home buyers. This price range just happens to be what is selling best in the current real estate market.
Category: Morristown |
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