As the snowstorm slams us indoors, forcing us to slow down, it's a good time to take a look at the state of Bloomfield NJ real estate and gear up for a robust sales year.
As of Friday, February 8, there were 150 residential homes on the market for sale with a median list price of $249,850. Of those, 21 are marked in the Garden State Multiple Listing Service as being in attorney review. This means the homeowner(s) has accepted a contract and both the buyer's and seller's attorney is reviewing the contract. For an overview of the home buying process to see where the attorney review step is, check out this Steps to Purchasing YouTube animation.
With 61 residential homes currently under contract and 21 homes already sold in less than 45 days into 2013, this could be a robust year for Bloomfield NJ real estate sales indeed. Make sure you hire a smart professional Realtor, see what Zillow reviews are saying, to have your back through the myriad of negotiation tactics and sales options.
But as the saying goes, you have to know where you've been to really know where you are going.
Bloomfield NJ Home Sales Stats For 2012: 269 Residential Home Sales
DOM = the number of days on market a home is listed for sale before going under contract. SP/LP = sales price / list price is the percentage the home sold to the asking price. For example, on average, residential homes sold for 94.9% of asking price last year.
That old saying goes for real estate, too. If you are looking to buy or sell a home you can hear a lot of rhetoric and read a slew of information, but you need professional Realtors and real estate attorneys who can actually interpret what it means in general and then what it means to your particular situation.
Make sure you are using proven facts and information with your professional Realtor team to set your asking price or offer price and not make the mistakes some homeowners do by pricing based on what they owe on their mortgage or what they have put into their home; or, what some homebuyers do, and offer based on what they can afford and not what the market is showing what the home is worth.
Click here to see how these 2012 stats compare to the last 3 years in town and for a little interpretation.
When a home buyer decides upon a price to offer a home seller, he/she is not looking at the asking price, but at the monthly amount he/she has to pay. This includes taxes and that's why I listed the taxes with the sale prices below.
Bloomfield NJ Home Sales 2012:
Addresses, Prices & TaxesSTREET ADDRESS
ORIGINAL LIST PRICE
*Data from the Garden State Multiple Listing Service (GSMLS).