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Over 23 Years of Local Real Estate Experience. Call or E-mail Jill Smith Today 973-722-2234, JillSmith@Comcast.net!

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Market Conditions Report

Welcome > Local Info > Area Market Statistics ...

 

AREA MARKET STATISTICS

Market Statistics by Town, covers several communities in the area. The statistics are based on sales for the first half of each year, January through June, traditionally the busiest time of the year.

Towns covered include Millburn-Short Hills, Maplewood, Montclair, Summit, Chatham, Madison, Harding and Westfield. If you would like statistics for a community not shown but in the area please contact Jill Smith directly at JillSmith@comcast.net or (973) 722-2234.

Note: All statistics are original and compiled by Jill Smith and her team using data from the Garden State Multiple Listing Service.


MARKET STATISTICS BY TOWN


All Towns Sales First Half of Year 2000 2009

MARKET STATISTICS BY SCHOOL DISTRICT

Market statistics by school districts breaks down sales statistics within each town by neighborhood.

Market Statistics for Chatham School Districts

Market Statistics for Madison School Districts

Market Statistics for Maplewood School Districts

Market Statistics for Millburn-Short Hills School Districts

Market Statistics for Summit School Districts

Note: All statistics are original and compiled by Jill Smith and her team using data from the Garden State Multiple Listing Service.

UNDER CONTRACT INVENTORY BY QUARTER

Millburn-Short Hills Under Contract Inventory by Quarter

Number refers to number of single family properties to go under contract during the quarter.
Data gathered from Garden State MLS.  All Statistics are Original to TheJillSmithTeam.com.

 Year  1st Quarter  2nd Quarter  3rd Quarter  4th Quarter  Total
 2003  54  130  67  52  303
 2004  72  109  68  64  313
 2005  78  112  76  49  315
 2006  81  90  48  48  267
 2007  89  108  46  50  293
 2008  64  93  54  22  233
 2009  43  82  57  47  229
 2010  56        

*To Date

Chatham Under Contract Inventory by Quarter
Number refers to number of single family properties to go under contract during the quarter.
Includes Chatham Borough & Township.
Data gathered from Garden State MLS.  All Statistics are Original to TheJillSmithTeam.com.

 Year  1st Quarter  2nd Quarter  3rd Quarter  4th Quarter  Total
 2003  62  88  59  67  276
 2004  71  93  54  42  260
 2005  77  102  62  41  282
 2006  68  85  52  58  263
 2007  77  84  38  40  239
 2008  55  66  36  21  178
 2009 22  77  43  44  186
 2010  48        

*To Date

Maplewood Under Contract Inventory by Quarter
Number refers to number of single family properties to go under contract during the quarter.
Data gathered from Garden State MLS.  All Statistics are Original to TheJillSmithTeam.com.

 Year  1st Quarter  2nd Quarter  3rd Quarter  4th Quarter  Total
 2003  71  126  92  74  363
 2004  83  117  73  79  352
 2005  68  99  89  62  318
 2006  75  106  74  59  314
 2007  66  92  44  53  255
 2008  46  82  53  41  222
 2009  41  93  53  58  245
 2010  61        

*To Date

Summit Under Contract Inventory by Quarter
Number refers to number of single family properties to go under contract during the quarter.
Data gathered from Garden State MLS.  All Statistics are Original to TheJillSmithTeam.com.

 Year  1st Quarter  2nd Quarter  3rd Quarter  4th Quarter  Total
 2003  72  92  72  62  283
 2004  66  116  51  54  287
 2005  63  76  57  53  249
 2006  57  76  51  47  231
 2007  75  77  41  38  231
 2008  61  66  47  30  203
 2009  27  81  62 41  211
 2010  56        

*To Date

AREA LUXURY REAL ESTATE STATISTICS

Statistics include single family sales of houses.  The first set of statistics are for houses originally listed between $1-2 million.  The second set of statistics are for houses originally listed over $2 million.  All information gathered from the Garden State MLS.  These statistics are original and courtesy of The Jill Smith Team.

Luxury Real Estate $1-$2 Million
Luxury Real Estate Over $2 Million


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School Reports in Chatham, Harding and Madison, New Jersey
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Real Estate Tips
Real Estate Contracts >The Sales Price

After your search for a house and all the negotiations are over, you arrive at the the sales price. Finally, you feel some certainty about your bottom line. However, it is not unusual for there to be disagreements about what is included in the sales price. Careful drafting of the paperwork can help to avoid future disputes.

The following definitions may help. Real property is land and any permanent attachments, such as buildings, landscaping and fences. Personal property consists of movable possessions, such as furniture and clothing. A fixture is defined as an item of personal property which has become part of the real property by virtue of becoming permanently attached, such as a new sink, a Jacuzzi, or a chandelier.

The principal area of dispute about the sales price often relates to fixtures. Most preprinted real estate contracts will provide space for the fixtures to be listed. Whether you are selling or buying, you should make use of this space. Do not assume curtains, satellite discs, antennas or fireplace equipment come with the house. You should also make it very clear what you don't want left on the property. If you are specific about every item that may be questionable, you will greatly reduce the chances of a dispute after the closing.

See All Tips In The "Real Estate Contracts" Category >
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Real Estate Trivia
Q 
What is arguably the world's strangest (and most dysfunctional) kitchen?

A 
In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California.
See More Real Estate Trivia >


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Jill Smith, REALTOR®, real estate agent and broker for Chatham, Harding and Madison New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Jill Smith
Keller Williams Realty

488 Springfield Avenue
Summit, NJ 07901
Office: 908-273-2991
Fax: 908-273-2996
Mobile: 973-722-2234
erinsmith@kw.com

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