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RSS FeedSomerset County NJ real estate 2008 vs. 2007 |
Here's a graphic comparison of some key numbers having to do with the real estate market in Somerset County, New Jersey, year-on-year for June (with active listing numbers representing those on July 1). S/D stands for supply/demand ratio, the number of sales made in the month divided by the number of new listings taken. Avg SP is the average selling price for properties closed, Avg DOM is average number of days on the market for properties closed, and Avg SP/LP% is the average ratio of selling price to list price.
| Actives | S/D | Absorption Rate | Sales Closed | Avg SP | Avg DOM | Avg SP/LP % | |
| 2007 | 2554 (7/1) | 54% | 6.7 months | 366 | $534,303 | 65 | 97% |
|
2008 |
2600 (7/1) | 57% | 7.2 months | 333 | $501,402 | 75 | 96% |
| Listings Taken | Sales Made | Sales Closed | Avg SP | Avg DOM | Avg SP/LP% | |
| 2007 | 2201 | 1029 | 683 | $456,372 | 81 | 97% |
| 2008 | 2103 | 707 | 449 | $315,255 | 88 | 95% |
A comparison of the first six months of 2008 compared to 2007 shows the following:
Somerset County NJ Real Estate January through June 2007 vs. 2008
