Mainly location & condition relate to the answer & price of course, which is derived from the former 2.
If what youre' really asking is should you sell now or wait.........then I will tell you that with all my expereince rolled up .........If ANYONE can tell you exactly ( and honestly) with the given market situation & the future trends when the best time to do so in the future may be.............they really don't have a clue.
From an investment point of view, the best way to compute gains/losses is to calculate you own carrying costs & determine a sell now vs 2 yrs from now & decide based on that.
Again, without specifics & speaking purely from buyers interest right now.............listing now & selling before early nov may be better.
We are seeing the buyer pool shrinking , esp. in the lower price ranges, as lending standards tighten up & some of these buyers are priced out.
Give it your best shot.........the condition of the home is very important.........there are other things to consider before you put the home on the market.............hire a really smart realtor, interview at least 3 & go with the one who can provide you with measureable efforts & references to follow up with.
Don't pick one for the mailing you get or the "I'm the best" speel or your 'local expert'
Interview then first. Call the references & ask for verifiable marketing efforts.........the internet is great......paper advertising is out......buyers mostly use the internet to find homes.
Worst case scenario..........if you don't even end up getting 1 offer then you at least have a realistic feedback/experience to work on for next year or later.
As of today there are 38 total condos or town homes in Lawrence. In the past 6 months 55 have been sold. I believe that the condo and town homes as you see is still moving. The Avg. days on the market is 74. Because of its location nearing Princeton, major colleges and geography. List below are all subdivision for condo and town homes in Lawrence Twp. My office is in Mercer Co if you would like a better assignment please contact me at the e-mail below. I hope this helps
Society Hill Lawrence
Lawrence Sq Village
Village Of Lawrence
Traditions At Federal
The Village Grande
Monthly Statistics for the Date Range Selected
Date Units Listed Listed Volume Listed Average Pended Units Sold Sold Volume Sold Average Average DOM
Sep 2007 26 7,346,800 282,569 7 21 5,242,800 249,657 48
Aug 2007 39 10,964,976 281,153 21 22 5,457,261 248,057 82
July 2007 30 7,811,406 260,380 19 30 7,648,675 254,955 59
June 2007 52 13,758,987 264,595 31 31 8,550,300 275,816 78
May 2007 43 11,995,063 278,954 33 31 8,640,500 278,725 97
Apr 2007 27 7,197,900 266,588 23 22 5,884,775 267,489 57
Mar 2007 40 10,870,573 271,764 26 22 5,809,800 264,081 89
Feb 2007 33 8,643,876 261,935 16 19 4,854,650 255,507 78
Jan 2007 51 14,166,070 277,766 34 14 3,313,400 236,671 77
Totals: 341 92,755,651 272,010 210 212 55,402,161 261,330 74
Inventory Accumulation for the Last 12 Full Months
Current Inventory * Inventory Volume Current Average Average Monthly Sales** Inventory Accumulation ***
129 36,807,485 285,329 22 5
*Current Inventory is based on the actual available properties on the date this report was created.
**Average Monthly Sales is the average sales for the last 12 full months
***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales
Pricing Details of Sold Units for the Date Range Selected
Minimum Prices Maximum Prices Average Prices
Original List Price : $89,900 Original List Price: $419,900 Original List Price: $274,717
Sold Price : $83,000 Sold Price: $380,000 Sold Price: $261,330
Inventory Accumulation figures are only calculated when Report End Month is the current month
Market Statistics Criteria Used
Date Range: 1/2007 to 9/2007
Price Range: $0 to $380,000
Property Category: Residential
Area: Lawrence Twp
Have a good night,
The good news is houses and condos are selling and there are strategies that will maximize your nnet dollars.
Act now it may be worth less in the months get ahead of the curve NOW.
I have sold three properties in the Society Hill Section of Lawrenceville. The last one was a month ago. I will be glad to assist you in your quest to sell. For a resource visit my website and look at the Market Snapshot, it will provide you with all the answers you have regarding resales of condos. If you want more comprehensive data, I will provide a complementary market analysis for you. There are 4 things that affect a sale, they are price, condition, location, and marketing and all should be discussed with your Realtor. Let me know your feelings.
This is a rapidly shifting market & the listings sold ( under recently sold) are going back fromJune 2007 & thus provide obsolete information to a seller or buyer.
And list prices are no indicator either.......sellers could price their homes however they chose.
Buyers make an apples to apples comparison.
Even if 2 homes sold on the same street , features,condition & layout etc. may vary.
Some communities are more desirable then others or proximity to a trainststion may amplify value on a buyer's eyes.
Lastly, real estate is local & only a local realtor, buyer or seller is really qualified to address this question.....they really know what is going on.........No offense intended.
I could elaborate on this but that would make for alonger post.
Below is a link to condos currently listed for sale on Trulia in the 08648 zipcode. Hopefully you can find a few comparable properties that will give you some insight into the market.
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