In a world of inexperienced first-time real estate investors becoming do-it-yourself contractor-flippers combined with recent relaxed requirement for certain building permits and inspections have
Morris Township Real Estate Activity And Stats
Dated: January 20 2015
A Search of Morris Twp activity on the GSMLS [Garden State MLS] yields the following data:
As of January 1, there were 382 active properties on the market for sale.
59 - 2 bedroom homes with an average list price of 436,634 and a median list price of 399,000.
103 - 3 bedroom homes with an average list price of 567,671 and a median list price of 529,900.
147 - 4 bedroom homes with an average list price of 677,297 and a median list price of 629,900.
72 - 5+ bedroom homes with an average list price of 1,206,707 and a median list price of 1,160,460.
Town totals are 382 active listings
Average list price is 709,050
Median list price is 625,000
Homes currently under contract vary from style to style and are dependent upon location, condition, age, square footage and lot size. These graphs and averages give you a 'ball park' idea and feel for values in the Morris Twp market.
There were 164 homes under contract awaiting the close of escrow as of December 31, 2014.
33 - 2 bedrooms with an average listing price of 398,939 and a median list price of 389,000 with average DOM [Days on Market] 52 days.
45 - 3 bedrooms with an average listing price of 517,893 and a median list price of 480,000 with average DOM 48 days.
63 - 4 bedrooms with an average listing price of 626,671 and a median list price of 624,900 with average DOM 59 days.
22 - 5+ bedrooms with an average listing price of 864,000 and a median list price of 864,000 with average DOM 57 days.
WHEN looking to buy a home, consider using an Accredited Buyer's Agent that will share with you all the comparable homes currently for sale, under-contract , as well as recent sales in the past 6 months to help you frame your negotiation strategy.
CLOSED Sales in Morris Twp from July 1 through Dec 31, 2014, averaged $ 575,00; selling for 97% of the asking price.
Closer examination illustrates 1 bedrooms averaged 100% of asking price $ 183,750.
The average for 2 bedrooms was under $ 420,000 and garnered 98% of the asking price.
Three bedroom homes average just over $540,000 and also sold for 98% of the asking price while 4 bedroom homes saw a 97% sale price to list price.
Five Bedroom plus brought in 97% of the asking price with an average sale price of $ 607,643.
If you are interested in having all the Morris Twp data at your fingertips, Just Click HERE
For more information please call Edwin Kalinka - KW Metropolitan 973.670.8338
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