son, Home Buyer in New Jersey

why are there so many homes for sale in east brunswick nj?

Asked by son, New Jersey Sat Oct 13, 2007

Help the community by answering this question:


I do not think there are radically more homes for sale in East Brunswick then other areea's at the moment. East Brunswick is a community of mixed ages and as with any community, there are people downsizing and selling after raising their children here and moving on to other places.

But the market is slow, we all know that. But there are as mony homes for sale here as anywhere else at the moment. There are some good buys happening here also.. email me with your price range and I will send you what is happening.
Web Reference:
0 votes Thank Flag Link Sat Oct 13, 2007

The sales activity this year in East Brunswick is very close to last year. We are literally running nearly toe to toe on closed sales YTD Oct 13, 2007 compared to the same period 2006.

New listings month by month compared 2007 to 2006, shows a higher number of new listings added each month during 2006 vs. 2007.

Below is a recap of month by month 2007 listing the # of sales closed, avg Sales Price and median Sales Price.
Jan 2007 18 $ 460,411 $ 463,500
Feb 2007 17 $ 441,853 $ 440,000
Mar 2007 22 $ 452,143 $ 425,367
Apr 2007 14 $ 461,586 $ 479,950
May 2007 24 $ 444,948 $ 461,000
Jun 2007 34 $ 441,350 $ 447,500
Jul 2007 38 $ 472,612 $ 466,000
Aug 2007 39 $ 478,705 $ 465,000
Sep 2007 23 $ 416,450 $ 425,000

This information is from the local MLS and deemed reliable, but not warranted.

If I can help you further, please don't hesitate to contact me. If you would like additional information about the market in Middlesex or Monmouth Counties, feel free to reach out to me directly, or our customer service desk.

Deborah Madey - Broker
(732) 530-7755 Main Office
(732) 530-6350 Direct LIne
2 votes Thank Flag Link Sat Oct 13, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
If you would like the complete report emailed to you, please request. It is in PDF format and a bit easier to read in columns. It will also show you additional info about new and currently active listings.
1 vote Thank Flag Link Sat Oct 13, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
No reason to be sorry/.... its just funny.

BUT.. now that we are here.. I wonder what the 2007 -vs- 2010 sales number is... hhmm....
Days on the market and pricing.. 2007 -vs- 2010

Lets get some facts!
0 votes Thank Flag Link Thu Jul 22, 2010
What the....? How did that happen? That is funny. Sorry.
0 votes Thank Flag Link Thu Jul 22, 2010
Pretty Quick Carl! The Question was asked in 2007!
0 votes Thank Flag Link Thu Jul 22, 2010
Looks normal to me. 50 Active For Sale, 5 Under contract and 50 sold last 12-months. Average days to sell and absorption rate is 10 months" 50- divided by 5. Median price is $415,000 list $391,000 sales price. Average Sold price for 12- months is $426,000. Why? The housing market is following the recession, lagging the usual 1-1/2 to 2 years. In addition, the mortgage lenders are extremely cautious. Higher credit scores needed, more conservative appraisals, then more conservative underwriters acting on instructions to loan on only best risks.
Other towns are similar. Buyers are cautious, waiting to pounce on nice homes and little tolerance for fixer-work. If you are a buyer, rates are at all-time low right now. Will they go lower? Not by much, if they do.
0 votes Thank Flag Link Thu Jul 22, 2010
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