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Market Report for Westfield NJ - January, 2010
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Market Report for Westfield NJ - January, 2010

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Market report for Westfield NJ- January, 2010

Market report for Westfield NJ- January, 2010

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    Market Report for Westfield NJ - January, 2010 Market Report for Westfield NJ - January, 2010 Presentation Transcript

    • Harold “Hal” Benz Broker/Associate www.TheTownBroker.com 908-233-8502 (o) 908-216-4836 (c) Local Market Report Westfield, NJ January 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 The data used in this report was obtained from the database of the Garden State Multiple Listing Service, LLC. All information is believed to be reliable, but is not guaranteed.
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Active Listings on Market 89 179 145 0 50 100 150 200 2008 2009 2010 2008 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 New Listings in Month 42 47 39 40 41 42 43 44 45 46 47 48 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Closed Listings in Month 7 11 0 2 4 6 8 10 12 2009 2010 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Average Days Market 99 54 0 20 40 60 80 100 120 2009 2010 2009 2010 That’s 1 1/2 Months Less!!
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Under Contract in Month 16 14 13 13.5 14 14.5 15 15.5 16 16.5 2009 2010 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Under Contract Price Change Prior to Accepting Offer 10.13% 0.71% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 2009 2010 2009 2010 More Accurate Pricing Leads To Quicker Sales!!
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Median Sale Price $680,000 $901,000 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 2009 2010 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Average Sale Price/ Final List Price Ratio 93.1% 95.1% 92.0% 92.5% 93.0% 93.5% 94.0% 94.5% 95.0% 95.5% 2009 2010 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Average Sale Price/ Original List Price Ratio 87.8% 94.7% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0% 96.0% 2009 2010 2009 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Absorption tells you how “healthy” the current market is.
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Absorption Rate (in Months) 11.2 10.4 9.8 10.0 10.2 10.4 10.6 10.8 11.0 11.2 11.4 2009 2010 2009 2010 Buyer’s Market
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) 10 Westfield Market- January 2010 For Every Buyer Planning to Buy in the Next 30 Days
    • www.TheTownBroker.com Harold “Hal” Benz Broker/Associate 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010  Future Issues to Watch:  Home Buyer Tax Credit  FHA Program Changes  Interest Rates  Jobs, Jobs, Jobs!
    • Harold “Hal” Benz Broker/Associate www.TheTownBroker.com 908-233-8502 (o) 908-216-4836 (c) Westfield Market- January 2010 Thanks For Watching! Visit us again NEXT MONTH for the February Market Report.