How's the Market in Metuchen NJ on April 8 2017

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Real Estate

Hi there, It's Mary Churchill with Coldwell Banker.  You know a lot of people ask me, "How's the Market in Metuchen?"  So I am going to give you the March 2017 update.  

The market revolves around SUPPLY and DEMAND.  On the DEMAND side, we had 90 active listings at the end of march -- which was down 6% from last year.  On the SUPPLY side we had 9 sales in March -- down 18% from last year.  So supply was down -- but demand was down much more.  So you can see the inventory is shrinking, and demand is shrinking even faster.  

Today 4/8/17 there are 58 homes on the market in Metuchen.  If we added no more listings and kept up the same sales pace, all of the inventory of homes would be gone in 6 months.  6 months is considered a "balanced" market.  That means buyers and sellers have equal opportunity and the market does not favor one over the other.  That means SELLERS will want to price their homes in the middle of the range of comparable properties  

BUYERS will want to make reasonable offers that are strong but not overly aggressive.  

If you are curious about how the market affects you, give me a call at 908-930-4800 and I will be glad to fill you in on the latest stats -- so you can make the best decision for buying or selling.