Take a Look at Your Clifton Real Estate Market Report – October 2019

Local Housing STATS for October, 2019

Single Homes SOLD (Incl, Condo/Townhomes,Active Comm Homes) : 67 units

Median SOLD Price:   $ 365,000            Days on Market: 30                          Sale to List Ratio: 99                      

Local Housing STATS for October, 2018

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

  Media SOLD Price:  $ 340,000          Days on Market: 43                                Sale to List Ratio: 99                      

That’s an Approximate 7.5% – $25,000 ↑ Increase

The Fall is the New SPRING for Real Estate!

As the Real Estate market normally goes through its annual cooling off period this time of the year, We’re still seeing great buyer demand due to lower interest rates and strong economy in spite of lower inventory. 

A GREAT TIME TO SELL If You’re Thinking About it or need to as home owners are preparing to make their homes warm and inviting for the holidays!

DID YOU KNOW:

 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)

CALL US FOR A FREE HOME AND ANALYSIS AND YOUR AREA’S ABSORTION RATE INDICATORS.