173 Oakland Road, Maplewood, NJ. Listed $650,000; Sold $720,000.
It is now 2021, thankfully, and I expect we all have high hopes for returning to some kind of normal. While 2020 was a challenging year for us all, our local Real Estate Market was hotter than ever. Here are some of the facts:
1. Average price for a home sold in 2020 rose 11% over the previous year to $665,776
2. Sold Price vs List Price performed at 104.9% of Average List Price, the prior year we were flat.
3. The number of $1,000,000 homes sold rose to 35 in 2020 vs. 29 in 2019.
4. We saw a HUGE increase in the number of homes that sold for over asking=63%, this represents a shift of 18% more than the previous year.
5. Another 17% of the homes sold, sold for asking price, giving us 80% sold for asking price or above.
6. Highest Closed Price for 2020 was $1,650,000 for a home on Hickory Drive, in Maplewood
7. Highest list price was $1,850,000 in Maplewood, but this home sold for much less than its asking price at $1,570,000 or 15% less than asking.
8. The number of homes sold was pretty much the same for 2020, totaling 389, versus the 390 sold in 2019.
9. The number of DAYS ON MARKET dropped from 37.4 to 26.4, almost a 30% decrease in the time it took to get a home under contract.
10. In the $1,000,000 home market, 22 of the 35 Homes sold for over $1,000,000 closed for asking or above.
Forecasts call for a continuation of these trends for the next 9 months*, all things being equal; that means that interest rates would stay at their close to all time lows and joblessness doesn’t increase further.
*according to Jeffrey Otteau from Otteau Group, New Jersey’s most prolific appraisal and real estate advisory company.
Mark Slade
Keller Williams
917.797.5059
Selling a Maplewood/South Orange/West Orange area home involves many steps and having an experienced Maplewood New Jersey Real Estate Agent and Realtor®, specializing in the Bedroom Communities of New York City in Essex/Union County— Millburn, Short Hills, Montclair, West Orange, South Orange, Livingston, Maplewood, Springfield, Summit, Madison, Chatham, Scotch Plains, Fanwood, Cranford and Westfield–by your side will make the transaction run a lot smoother. I would love to be your Maplewood/South Orange New Jersey Area Real Estate Professional! I assist both buyers and sellers in the Bedroom Communities of New York City, mostly served by NJ Transit’s Mid-Town Direct Train Lines, offering commutes of 45minute or less to NY Penn Station, with either the purchase and or sale of residential real estate.
As an Accredited Buyer’s Agent (ABR), I have received special training to guide and educate you through the entire home buying process. From start to finish, I listen to your needs and desires in what you would like and take the information you give me to find you home. My GO-TO team can provide you the best in Real Estate advice with regard to attorney choices, Home Inspectors and Mortgage Loan Officers
I am also a Luxury specialist (CLHMS), I have received special training to guide and educate you through the entire home buying and selling process. Not only does this extra training help me better understand this upper echelon in real estate, but its benefits also include a special luxury website: www.njluxhomes.com and a corresponding worldwide luxury network that helps to put luxury buyers and sellers together.
As your Maplewood/South Orange/ West Orange New Jersey listing agent I am well versed on as your local expert in all things in the West Orange, Maplewood, and South Orange area Real Estate Market. You can expect personalized service that includes a detailed consultation on how to best position your Mid-Town Direct home to be competitive in today’s market with training to provide my clients with an in-depth Advanced Comparative Market analysis, and advice on staging. As my office’s technology officer as well as both a Zillow Platinum Premier and Trulia Premier agent, I use the latest and most up-to-date marketing methods to get your home in front of as many buyers as possible. Being your New Jersey Real Estate Agent and Realtor ® not only involves just finding the home or selling the home, but being your guide, negotiator, advisor, and advocate and making sure that your needs and goals are met. Being your New Jersey Essex/Union County area Realtor® (with a little bit of Morris County thrown in for good measure) is one of my truest passions, and “Helping You Find Your Dream Home” is my number one priority.
Don’t forget These Helpful Sites:
For Open Houses:
www.southorangenjopenhouses.com
and
For Homes For Sale:
and
www.latestsouthorangehomes.com
Best,
Mark Slade, Realtor, ABR, CLHMS, SFAR
Featured Realtor in the New York Times: http://goo.gl/zrmr0f
Circle of Excellence 2012-2019
Keller Williams Platinum Award Winner 2015-19
Keller Williams
D: 917.797.5059
www.goodhomesforgoodpeople.com
