68 Myrtle in Millburn, NJ
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 fun facts:
MILLBURN:
1. Average price for a home sold in 2020 rose 1% over the previous year to $813,548.
2. Sold Price vs List Price performed at 100.4% of Average List Price, the prior year homes sold for only 97.3% of asking.
3. The number of $1,000,000 homes sold rose to 20 in 2020 vs. 14 in 2019.
4. We saw a SIGNIFICANT increase in the number of homes that sold for over asking=38.5%, this represents an increase from only 28.7% from the previous year-2019.
5. Another 14.4% of the homes sold, sold for asking price, giving us 53% sold for asking price or above, which was a 25% increase from 2019.
6. Highest Closed Price for 2020 was $1,800,000 for a home on Linden Ave, in Millburn.
7. Highest list price was $1,800,000, same as the sold price for the same Linden home.
8. The number of homes sold increased in 2020, totaling 104, versus the 87 sold in 2019, an increase of 20%.
9. The number of DAYS ON MARKET did increase to 38 from 33.6 days, still a very healthy number.
10. In the $1,000,000 home market, 5 of the 17 Homes listed for $1,000,000 or more, sold for over $1,000,000 price.
SHORT HILLS:
1. Average price for a home sold in 2020 rose 7% over the previous year to $1,589,501.
2. Sold Price vs List Price performed at 97.3% of Average List Price, the prior year homes sold for a lower percentage–95.4% of asking.
3. The number of $1,000,000 homes sold rose to 20 in 2020 vs. 14 in 2019.
4. We saw a SIGNIFICANT increase in the number of homes that sold for over asking=30%, this represents a dramatic increase from 12.4% for the previous year-2019.
5. Another 10% of the homes sold, sold for asking price, giving us 40% sold for asking price or above, which was more than double the percent for 2019.
6. Highest Closed Price for 2020 was $4,400,000 for a home.
7. Highest list price was $4,800,000.
8. The number of homes sold increased in 2020, totaling 264, versus the 209 sold in 2019, an increase of 26%.
9. The number of DAYS ON MARKET decreased to 56.8 from 68.2 days, a very positive move in the right direction.
10. The highest list price for 2020 in Short Hills was $3,995,000 compared to last year when it was $4,800,000. This home closed for $3,800,000, 95% of its asking price.
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 Millburn/Short Hills area home involves many steps and having an experienced local expert as your 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 Millburn and Short Hills 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 and certifications 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 Millburn and Short Hills New Jersey listing agent I am well versed on as your local expert in all things in the local 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. shorthillsnjopenhouses.com
and
For Homes For Sale:
and
Mark Slade Keller Williams 917.797.5059 Good Homes Mark Slade
“Mark is an incredible agent. He represented us in purchasing a home in 2015 and in selling that home this Fall (we had to move for work). He was … more “
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by Andrew Pak
“Mark helped me through all stages of buying and selling a home, two difficult and challenging transactions. I have tremendous confidence in him, and … more “
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“Our experience with Mark selling our house could not have been better. In less than a week we had 6 offers over the asking price. He is a pro in every … more “
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