Realtor Mark Slade Reports ‘SOMA Real Estate Is Still Moving And Grooving’

by Mark Slade
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From Mark Slade:

Real Estate is a big business and a big part of our economy. Lately, there has been a great deal of fear mongering about the market. Yes, nationally, there are a good number of cities/towns where we are seeing the effects of significantly higher interest rates play out.  

The best I can tell you is that cities and towns where there is a great deal of new home construction due to having copious amounts of land are being hit the hardest. However, SOMA is a very different market as we are pretty much built to capacity.  

So, while interest rates have impacted the market place and have turned off many buyers, there are still more buyers than homes available on the market.

Here are the YTD–Year-To-Date–vs more recent real estate stats for Maplewood and South Orange:

Maplewood:

Average home Sale price YTD: $912,320

Average home Sale price last 6 weeks: $830,422                                                                                                                                                                                                                                                                                                                                                              

First 6 weeks of closings** 20.0%

Last 6 weeks of closings: +6.5%

South Orange:

Average home Sale price YTD: $925,077                                                                                                                                                                                                                                                                                                                                                                          

Average home Sale price last 6 weeks: $846,375                                                                                                                                                                                                 

First 6 weeks of closings** 11.30%

Last 6 weeks of closings: +9.4%

As you can see from the above, the results are still quite strong, just not as strong as they were at the beginning of the year.

If you have any questions or want to know how to maximize your sale price if you are looking to sell your Maplewood or South Orange home, please feel free to call/text me at 917-797-5059.

The Mark Slade Homes closed just shy of over $51 Million in 2021, and fast approaching Half a Billion in lifetime volume and over 750 transactions, now in 50 New Jersey  towns:

Maplewood, South Orange, Short Hills, Millburn, Montclair, Glen Ridge, Livingston, Roseland, Hoboken, Jersey City, Essex Fells, West Orange, Roseland, North Caldwell, Caldwell, West Caldwell, Cedar Grove, Verona, Summit, Westfield, New Providence, Berkeley Heights,  Cranford, Union,  Scotch Plains, Fanwood, Kenilworth, Rahway, Roselle, East Hanover, Florham Park, Chatham, Madison, Morristown, Wayne, North Haledon, Lincoln Park, Basking Ridge and more.

For Buyers we are ABR certified which allows us to consistently help our buyers find the right homes while making sure the process is managed successfully to get you to the closing table where you will get the keys to your new kingdom.

For Sellers we have a cutting edge, tech savvy, strategy ( www.sladesells.com ) that enables our sellers to benefit from an average price paid for their properties that is more than the average agent from the same MLS in the same towns.  This effectively “reduces” the cost of selling by slightly more than half the typical transaction cost for our clients.  Not wanting our sellers to miss out on getting the most money for their home, we offer our clients a concierge service where we loan them the money to help with repairs and staging, interest free.

Need to Sell and Buy at the same time? We pride ourselves on making this as smooth a move as possible for our clients! We are trained by Otteau Valuation Group to conduct an Advanced Comparable Analysis ( www.advancedcma.com ) when trying to best understand the value of a property at any given time. 

Our team is comprised of premier local experts to assist you with all your real estate needs in Essex, Union, Morris counties as well as some Hudson, some Passaic and some Middlesex.  Whether you are a First Time Home Buyer, a current home owner needing more space or an empty nester looking to downsize, we have successfully helped our clients with over 300 closed transactions while maintaining the highest levels of service with integrity.  Due to our success are consistently awarded Circle of Excellence-Platinum (highest rating) from the NJ association of Realtors.

We own and operate 7 Websites, including one site dedicated solely to our luxury listings (we are CLHMS certified).  We also own and operate 29 town-specific Open House sites, thus blanketing the area with information for thirsty buyers.  Lastly, we own and utilize over a dozen Social Media sites and pages as well as 323 domains to provide quick-find solutions and answers for our clients.  Our clients love us because we make the home buying and selling process as easy as possible and now we offer free use of our moving truck for prepping your home to sell or for local moves in the area.

We are a 24/7 responsive team.  We are also a Team that GIVES BACK to over a dozen charities and organizations.

Give us a call or text us at 917-797-5059  WWW.SLADETEAMHOMES.COM

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