Franklin Township Residential Sales

The month ended with 41 Franklin Township single family residences sold between May 1 - 31, 2008. Sale prices ranged between $210,000 and 785,000.

The month ended with 483 active listings on the market, including 103 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

The month ended with 48 Franklin Township single family residences sold between April 1 - 30, 2008. These properties sold during this period at an average of 96% of listing price.** 

The month ended with 592 active listings on the market, including 141 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

The month ended with 59 Franklin Township single family residences sold between March 1 - 31, 2008. These properties sold during this period at an average of 98% of listing price.** 

The month ended with 550 active listings on the market, including 149 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

The month ended with 25 Franklin Township single family residences sold between February 1 - 29, 2008. These properties sold during this period at an average of 96% of listing price. 

The month ended with 566 active listings on the market, including 169 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

The month ended with 30 Franklin Township single family residences sold between January 1 - 31, 2008. These properties sold during this period at an average of 96% of listing price. 

The month ended with 496 active listings on the market, including 120 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

It's time to get off the fence

Fellow Blogger and NJ Realtor, Jim Flanagan, commented the other day on Sunday's New York Times article, "Buyer's Hear This" by Antionette Martin. Jim is absolutely on target that rather than being buried deep in the pages of the real estate section, this NY Times article should have been front page news. 

The NY Times article highlights the bold statements from such highly regarded analysts as Jeffrey Otteau; who publishes the Otteau Report.  The Otteau Report provides comprehensive market-level data and analysis for all 21 of New Jersey’s markets. Mr. Otteau  was quoted to say, "Spring 2008 will present a unique opportunity that has never before occurred in the housing market, namely lower home prices and low mortgage interest rates,”  Just today, Marketwatch.com reported about the "lowest fixed rate mortgages in nearly four years". That makes it a great time to buy a home.

The article also supports what I reported to you last year, in a posting titled, "Moving up in a buyer's market".  If you plan to remain in the same neighborhood and trade up to a larger home, it is a great time to sell and buy. 

Homes, here in Franklin Township, that are priced well and show well...do sell and don't linger on the market.  With the aid of a knowledgeable realtor, make the home you plan to sell be the "shiniest penny" in the jar by pricing it to today’s market; being ready to make adjustments as necessary; presenting a fresh, clean appearance and being agreeable to innovative marketing. 

It's too bad that good news about New Jersey real estate isn't concidered sensational enough to make the front page.   

Franklin Township Residential Sales

The month ended with 37 Franklin Township single family residences sold between December 1 - 30, 2007.

The month ended with 499 active listings on the market, including 44 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

The month ended with 59 Franklin Township single family residences sold between November 1 - 30, 2007.

The month ended with 543 active listings on the market, including 105 new listings.

If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

The month of October ended with 48 Franklin Township single family residences sold in an average of 82 days on the market (DOM) and received 96% of the listing price. October ended with an average new listing price of $383,291 and an average sale price of $353,141.

The month ended with 601 active listings on the market, including 125 new listings. If you have a question about a specific property in town, or stats for surrounding areas, please don't hesitate to contact me.

Source: Garden State MLS, L.L.C. **Info. deemed RELIABLE but not GUARANTEED - ALL Room Sizes are Approx.**

Franklin Township Residential Sales

This month the report takes on a new format. Now you will be able to view photos (where available) of the properties that sold/closed during the month.

The month of September ended with 47 Franklin Township single family residences sold with an average of 74 days on the market (DOM) and receiving 97.6% of the listing price. The average list price was $327,399 and the average sale price was $319,508.

The month of September ended with 473 active listings remaining on the market.

If you have a question about a specific property in town, or stats for surrounding areas, please do not hesitate to contact me

Source: GSMLS

Overpricing your home, part deux

December 19, 2006 I Blogged about the problems of overpricing your home, especially in today's marketplace. The Wall Street Journal reported today of a trend that's happening when buyers perceive a home to offer true value. It results in a bidding war when the home is priced slightly under market value.

Here's what the WSJ says, "Home buyers in the New York suburbs of northern New Jersey are getting into bidding wars. But they're not the same as the battles of the housing boom, when house hunters vied to present a winning offer as soon as a home hit the market, says the Record of Hackensack, N.J.

Now bidding wars most often take place when the owner of a property that isn't selling reduces the asking price to the "sweet spot" - a dollar amount considered a "good value" by consumers, the newspaper says. For instance, one homeowner in Tenafly, N.J., reduced her asking price five times - from a high of $810,000 to a low of $699,000. In May, her final asking price garnered multiple bids after her home had been on the market for about eight months. She eventually sold her house for a little less than her final list price."

The month of July ended with 65 Franklin Township single family residences sold ranging between 9 and 208 days on the market. 

Houses that were under contract for the month amounted to 94.  The month ended with 489 active listings which remained on the market.

The monthly chart that I regularly post still contains an error.  Therefore, this month it will not be published. I apologize for any inconvience this might cause.

If you have a question about a specific property, or stats for surrounding areas, please do not hesitate to contact me.

Error found in MLS stats

While pepariing to post the August Residential Sales Report for Franklin Township here, I discovered an error which misrepresented "sold" prices.  The error was reported and, hopefully, the correction will be made within a day or two.  I will post the new stats as soon as they become available.

Local area open houses, Sep 1 - 2

To view a list of open houses this weekend, click the above icon.

Be certain to check Our Town Realty Open Houses

But, why wait until the weekend?  Be ahead of the crowd by scheduling a private showing today.

Contact me via e-mail or call (908) 583-0409

Learn about Buyer Agency and why home buyers should not venture into open homes alone.

Local area open houses, Aug 25-26

To view a list of open houses this weekend, click the above icon.

Be certain to check Our Town Realty Open Houses

But, why wait until the weekend?  Be ahead of the crowd by scheduling a private showing today.

Contact me via e-mail or call (908) 583-0409

Learn about Buyer Agency and why home buyers should not venture into open homes alone.

Local area open houses, Aug 18-19

To view a list of open houses this weekend, click the above icon.

Be certain to check Our Town Realty Open Houses

But, why wait until the weekend?  Be ahead of the crowd by scheduling a private showing today.

Contact me via e-mail or call (908) 583-0409

Learn about Buyer Agency and why home buyers should not venture into open homes alone.

Franklin Township Residential Sales

The month of July ended with 75 Franklin Township single family residences sold with an average of 74 days on the market and receiving 98% of the listing price. 

The month also ended with 640 active listings which remained on the market. This is a decrease of 8 new properties from the previous month.

If you have a question about a specific property, or stats for surrounding areas, please do not hesitate to contact me.

Local area open houses, Aug 11-12

To view a list of open houses this weekend, click the above icon.

Be certain to check Our Town Realty Open Houses

But, why wait until the weekend?  Be ahead of the crowd by scheduling a private showing today.

Contact me via e-mail or call (908) 583-0409

Learn about Buyer Agency and why home buyers should not venture into open homes alone.

Local area open houses, Aug 4-5

To view the list of open houses this weekend, click the above icon.

But, why wait until the weekend?  Be ahead of the crowd by scheduling a private showing today.

Contact me via e-mail or call (908) 583-0409

Learn about Buyer Agency and why home buyers should not venture into open homes alone.

I have been providing raw data on monthly Franklin Township home sales for a while, now. But what do those numbers really mean?

Reviewing statistics for homes sold over the past several months, you can see that the local selling price has remained at approximately 97% of the listing price.  When examining Days On the Market (DOM) over the last six months, properly priced homes took 75 days to sell in contrast to 40 days in 2005.  I must add that these numbers reflect homes that were priced correctly, from the start. 

The inventory of Franklin Township housing stock on the market for the past six months has fluctuated between a low of 515 to a high of 783.  The month of June 2007 ended with 648 active listings. 

Today's local home values are similar to prices of August 2005 for houses sold. The month of June 2007 ended with an average Franklin Township selling price of $342,128.  The month of August 2005 ended with a average Franklin Township selling price of $343,354.  For long time home owners with plenty of equity, conditions are still ripe to sell your home.   

Much talk has been of a "Buyers' Market".  After a closer look, I would describe current local conditions as not so much a "buyers' market", here in Franklin Township, but one still in transition from a seller's market to a buyers' market.  

In summary, homes that are well priced and show well will find a buyer.  Don't price your home with the expectation of reaping values of 2006. Do listen to the recommendations of your real estate agent to improve how well your home shows to prespective buyers, its pricing and marketing plan.  Failing to heed these suggestions could have your home selling a competitors; when being compared.