2017 was yet another phenomenal year for real estate — if you were a seller. Maplewood has really been hot, and it’s evidenced by the fact that we have more buyer interest than we have supply.
And what has that done?
That’s pushed the average price up about 9% for what buyers paid for homes over last year. We almost saw the average price hit $600K. The average price paid relative to list price also increased from 102.6% to 103.4%.
The number of units sold was 347 vs. 349 for the previous year. We would have done more if there had been more homes on the market to sell. There’s simply not enough inventory.
In addition, 56% of the homes sold in Maplewood in 2017 sold for over asking. That’s just an incredible statistic. And more than 2/3 of homes sold for asking or above.
Over 28 homes sold for more than a million dollars, and four of those were actually listed below $1M.
Clearly we are seeing changes in our socio-economics in this market.
Average price paid up 9% to $594,000
Ratio of Price Paid to List Price also up to 103.4% of asking
Banner year for Million Dollar homes as 2 dozen homes listed for over a Million sold for over a Million; another 4 were listed under $1.0M but sold for more.
56% of the homes sold for more than their asking price, another 12% sold for asking; so the majority of the homes sold for asking and above.
If you have any questions or would like to know how much your property might be worth, please feel free to call me at 917-797-5059.
2017 was also a banner year for the Slade Homes Team. We closed $30 Million and 66 transaction, bringing our totals to over $200 Million and over 500 transactions. Selling a Maplewood/South Orange/Millburn/Short Hills 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, its benefit 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/Millburn/Short Hills/Essex/Union County New Jersey listing agent I am well versed on as your local expert in all things in the 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.
A picturesque town in Essex County, Maplewood is located on the East Branch of the Rahway River. Originally consisting of farms, mills and orchards, Maplewood is now a great mix of residential and commercial areas, culminating in the jewel of a downtown village and coming together to create a charming, tight-knit and diversified community. Maplewood has predominantly Colonial and Tudor style homes with sprawling porches and ample greenery, but you can also find some Victorians and a range of more modern style construction on its beautiful tree lined streets.Maplewood is a diverse town with 6 elementary schools and prominent municipal building designed by famous architects, Guilbert and Betelle. In the center of town, famed landscape architects, the Olmstead Brothers, created the breathtaking Memorial Park; not to be overlooked is Ricalton Square, nestled between the train station and the downtown shopping; this area is frequently used for events including a Halloween Parade with hayrides and petting zoos, as well as featuring replica homes during the Winter Holiday Season. The town offers many activities to its residents from camps in the summer, arts and crafts classes, a public pool (with 4 pools ranging from a “baby” pool to toddler pool to large lap pool and a diving tank) and a farmers market when in season. There is even an annual musicalpalooza–Maplewoodstock—featuring a variety of bands and musical styles, showcasing local and national bands with booths for local businesses to set up.The Village, also known as Maplewood Center, is a quaint, downtown shopping district with everything from restaurants with foods from all over the world, bakeries, dance studios, gyms, bookstores, a movie theater and bookstores. With its large variety of cuisines to choose from, Maplewood recently started a yearly town-wide Restaurant Week with over 30 eateries participating.Easily accessible by its throughways and the New Jersey Transit, it’s no surprise Maplewood has been ranked several times as one of the most desirable places to live in America by a number of surveys.