Unit was originally a FSBO at $329,900, after months of no sale was relisted by at least two different agents decreasing in asking to $299k. Owners purchased in June 2009 at $280,000. Metuchen market is DOWN since June 2009 by an average of 10% - suggesting "market" might be $252,000 or so.
Another objective measure (not real estate agent fluff), closed sales prices as a percentage of tax assessed value. Metuchen assessor pretty active in "re-assessments" AND this measure considers square footage, amenities and location differences. Current 22 Park assessment of $158,200 times recent sales ratio of 1.65 suggests current value of $261,000.
The FMV of these units has decreased so much the assessor has routinely lowered both Central Square and Franklin Square units across the street (many Franklin Square units have had more than one decrease).
Re/Max First Realty
Direct: (848) 391-6428