Tewksbury NJ Real Estate - Closed Sales MAY 2012
by Bob Zorechak - GRI, ABR, e-PRO
Sales for MAY are in: Sales are down by 27% as compared to last May
with Year-to-Date sales remaining flat from this same period last year.
Read here to find out the very latest information on your local Tewksbury NJ Real Estate market!
Closed Sales in Tewksbury
decreased by 27% for the month of May as compared to this same period
last year (7 sales in May 2012 as compared to 11 in May 2011).
Year-to-Date sales were flat through May as compared to the same period
last year (24 sales in 2012 vs.24 sales in 2011), however
despite the monthly decrease in MAY, it is worth mentioning that the
YTD volume has been the highest it has been over the past five years.
pace with the Year-to-Date volume is a good sign, however it is still
too soon to tell if this trend will continue throughout the rest of the
year and if the market is finally heading in the right direction.
are expected to remain at 2002 / 2003 levels and interest rates
continue to hover at record low rates. There has rarely been a time
where both prices and
interest rates were so low. Combine these two factors with a relatively
high inventory of homes to choose from and you have the perfect
conditions for a robust and steady housing recovery. The general state
of the economy along with a high rate of foreclosures and distressed
properties are expected to keep prices low for several more years as
this inventory eventually gets cleared out.
is a certain amount of "pent-up demand" on both the buying and selling
side of this market as many buyers and sellers have been sitting on the
fence for several years now and see that the pendulum is beginning to
swing in the other direction and as a result, they are taking action.
Look below to see the individual homes that sold in Tewksbury
NJ for the month of MAY in 2012. Also shown below is a year to year
comparison bar graph for homes SOLD in the month of MAY over the past 5
years, followed by another graph illustrating the amount of homes that
have SOLD Year-to-Date through May through the same period.
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