January 2nd, 2008 Categories: NJ First Time Home Buyers, Recent New Jersey Home Sales
Homes continued to sell in New Jersey during December 2007.
Prices were down about 11% from the previous month.
Average Days on Market (DOM) were only two months in December versus three months in November.
Why?
Sellers realized that well priced homes will sell and Buyers took advantage of year end “specials.”
Below are the December (12/1/2007–12/31/2007) closed sales of single family homes provided by the Garden State MLS.
December 2007 HOME SALES
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How did New Jersey home sales compare this December versus 2006, or 2005?
Thanks,
John C
Comment by John C — January 8, 2008 #
Great question John, I just looked over the numbers, and for the most part, New Jersey December ‘07 home sale prices were up over ‘06 and at par or slightly better than ‘05. Volume, however, was equal or down from the previous two years. Days on Market (DOM) was equal to last year’s but still 30%-50% higher than the 2005.
Perri
Comment by NJ Real Estate Wire — January 8, 2008 #