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ALL
REAL ESTATE IS LOCAL
By Felix Nazario, Realtor
Associate – Davis Realtors
August 18, 2008
That is what we in the Real Estate
profession know all too well. What is happening in one town can
be quite different than what is happening in the surrounding
towns. The Real Estate Markets in our local towns reflect that
statement to a tee.
Though it has been a buyers market in
all of the towns we cover, what that means for home sellers has
been quite different depending on the town you are in. In East
Brunswick, South Brunswick, North Brunswick, Plainsboro, Fords,
and New Brunswick it has meant that homes have continued to
sell, but only with Sellers lowering their prices to levels not
seen since Fall 2005.
In Real Estate Markets such as
Jamesburg, Milltown, Perth Amboy, South Amboy, and Woodbridge,
the spring did not seem to matter, since homes were just not
going to sell. Now we are into the middle of August and the
Real Estate markets in all of our towns are seeing some
activity, though it most definitely is still a buyers market.
Most likely one of the strongest buyers markets since the fall
of Reaganomics in the later 1980’s, early 1990’s.
So, let’s get to the Real
Estate numbers for this month!
The Media is
asking
"When will the
Rebound Come"
Inventory
Numbers:
|
Town |
Available Inventory |
New |
Avg
Days on Market |
Avg
Asking Price |
|
Avenel |
80 |
16 |
60 |
$ 365,456.00 |
|
Carteret |
154 |
35 |
68 |
$ 353,279.00 |
|
Colonia |
130 |
38 |
67 |
$ 540,845.00 |
|
Cranbury |
39 |
14 |
79 |
$ 863,710.00 |
|
Dunellen |
56 |
11 |
55 |
$ 355,655.00 |
|
East Brunswick
|
323 |
77 |
81 |
$ 553,825.00 |
|
Edison |
435 |
104 |
42 |
$ 519,838.00 |
|
Fords |
69 |
17 |
21 |
$ 375,801.00 |
|
Helmetta |
15 |
2 |
34 |
$ 358,813.00 |
|
Highland Park |
50 |
13 |
40 |
$ 416,350.00 |
|
Hopelawn |
22 |
3 |
96 |
$ 336,882.00 |
|
Iselin |
142 |
26 |
58 |
$ 395,107.00 |
|
Jamesburg |
26 |
4 |
101 |
$ 347,769.00 |
|
Keasbey |
4 |
0 |
0 |
$ 251,225.00 |
|
Metuchen |
74 |
27 |
55 |
$ 541,635.00 |
|
Middlesex |
81 |
27 |
44 |
$ 390,434.00 |
|
Milltown |
38 |
10 |
108 |
$ 399,355.00 |
|
Monroe |
223 |
59 |
91 |
$ 616,697.00 |
|
New Brunswick |
136 |
34 |
18 |
$ 325,429.00 |
|
North Brunswick
|
177 |
34 |
71 |
$ 475,836.00 |
|
Old Bridge |
420 |
98 |
92 |
$ 438,962.00 |
|
Perth Amboy |
213 |
41 |
131 |
$ 322,976.00 |
|
Piscataway |
281 |
65 |
60 |
$ 436,904.00 |
|
Plainsboro |
71 |
18 |
39 |
$ 663,902.00 |
|
Port Reading |
35 |
7 |
56 |
$ 372,800.00 |
|
Sayreville |
237 |
57 |
47 |
$ 426,805.00 |
|
Sewaren |
19 |
8 |
27 |
$ 362,305.00 |
|
South Amboy |
71 |
13 |
108 |
$ 388,517.00 |
|
South Brunswick
|
188 |
45 |
45 |
$ 569,177.00 |
|
South Plainfield |
134 |
47 |
35 |
$ 429,025.00 |
|
South River |
154 |
36 |
76 |
$ 382,605.00 |
|
Spotswood |
59 |
14 |
96 |
$ 412,372.00 |
|
Woodbridge |
76 |
20 |
115 |
$ 354,243.00 |
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. . . "A true leader in the real
estate industry."