Take a Look at Your Clifton Market Report -September 2019

Local Housing STATS for September, 2019

Single Homes SOLD (Incl, Condo/Townhomes,Active Comm Homes) : 52 units

    Media SOLD Price    Days on Market     Sale to List Ratio           

          $ 360,000                              42                                99.5                      

Local Housing STATS for September, 2018

Single Homes SOLD (Incl, Condo/Townhomes,Active Comm Homes) :  68 units

  Media SOLD Price            DOM     Sale to List Ratio           

       $ 332,500                  38                98.7                      

That’s an Approximate 8% or $28,000 ↑ Increase

 These are representative of most markets through-out Northern New Jersey.

It’s Still a Great Time to Move on!

If you’re thinking to MOVE! NOW IS THE TIME TO PROMOTE, PRESENT and PRICE for MAXIMUM GAINS and QUICKEST RESULTS.

Tidbit: What’s Absortion Rate? ….Do You Know Your Town Absortion Rate?

Typically, AR is the time it would take for all the properties in the market at a particular point in time to all SELL if no new properties enter the MARKET.

Ex, If typically 60-70 Units Sell Every Month and There are Currently 240 Units Active/For Sale

it Would Take Approx. 4-4.5 Months to Sell ALL UNITS (Seller’s Market) 

Therefore, you’re area’s absorption rate would be  4-4.5 Months, which represents a typical SELLER’s Market.  The last few weeks of the Summer and beginning of the FALL, We have noticed an uptick in the buyer’s demand and traffic to available properties due to the FED’s interest rates reduction for the first time in 10 YEARS. 

(These are extracted from the local MLS system for general information purposes and no representations are made as to its accuracy and no guarantees or representations are implied)