154 Houses sold in the first 28 days of June in Hunterdon County
(Below is a market update on the real estate activity in Hunterdon County as of June 29, 2013, as reported on the Garden State Multiple Listing System. This information is provided by courtesy of Hunterdon County Realtor Joe Peters.)
During the first 28 days of this June, 154 residential Hunterdon County properties went “under contract”, with 76 percent of them being under the $500,000 list price. Showing positive activity on the upper end of the market, 16 percent of the “under contract” properties were listed as more than $600,000
In the same 28 days, 173 residential properties were newly listed for sale, with 79 percent under the $600,000 price point.
Also to report:
- The average list price in these new listings was $464,404.
- The average list price for those going “under contract” was $410,330 or 12 percent less.
- The average time on the market for the “under contract” homes was 86 days.
- Of the 154 “under contract” homes 55 had price reductions averaging $44,060.
- There are 1,009 active residential properties in Hunterdon County.
- In Hunterdon County, there is about a 6 month supply of homes based on these Month-T0-Date figures.
The recent activity indicates we are seeing deeper price cuts in order to move some of the older inventory.
For more information or for help understanding the Hunterdon County real estate market, please call me at 908-238-0118. I can offer you knowledgeable and proven advice based upon my more than 20 years of experience, including a special emphasis on Hunterdon County.
Please note: This report is published on a weekly basis to provide information on homes for sale in Hunterdon County – including Flemington, Raritan Township, Readington Township, Clinton Township and the Town of Clinton.
Wells Fargo reports an interest rate of 4.5* percent for a 30-year conventional mortgage, down 1/8 from last week. FHA 30-year mortgages are at 4.25* percent. For 15-year mortgages and ARMs, rates are landing in the mid 3% percent range.
*rates as of publishing
- How long is it taking to sell a home in Hunterdon County?
- How is the time on market broken down by price point?
- View the latest monthly market update numbers for Hunterdon County.
- Read some of the latest local and national real estate news here.
- Meet Joe Peters (short video)
Note: The information presented is deemed accurate but not reliable or guaranteed. Reasonable precautions were taken in the preparation and presentation of this information to ensure accuracy, but the author assumed no liability for any actions taken based on this information. Some opinions expressed represent forecasts of economic conditions as the impact real estate values. All such information is solely conjecture and should be regarded as opinion only and not serve as the sole basis of any financial decision.