ViviansMARKET UPDATE                                                                        MARLBORO, NJ 07746· Current Re...
Neighborhood Detail                                                                                                      S...
Single Family Homes in  Neighborhood Detail  Vivian Morffi - Keller Williams Realty - vmorffi@kw.com                      ...
Single Family Homes in  Neighborhood Detail  Vivian Morffi - Keller Williams Realty - vmorffi@kw.com                      ...
Single Family Homes in  Neighborhood Detail  Vivian Morffi - Keller Williams Realty - vmorffi@kw.com                      ...
Single Family Homes in  Neighborhood Detail  Vivian Morffi - Keller Williams Realty - vmorffi@kw.com                      ...
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Vivian morffi market update [sf] nj marlboro_07746(2)

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Vivian morffi market update [sf] nj marlboro_07746(2)

  1. 1. ViviansMARKET UPDATE MARLBORO, NJ 07746· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics· Report for the week ofAugust 08, 2011· Presented by Vivian MorffiKeller Williams Realtywww.VivianMorffi.com/vmorffi@kw.com732-536-9010 x163 Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2010 Altos Research LLC
  2. 2. Neighborhood Detail Single Family Homes in Vivian Morffi - Keller Williams Realty - vmorffi@kw.com MARLBORO, NJ 07746 This Week Real-Time Market Profile Trend The median list price in MARLBORO, Median List Price $ 499,000 ±+ NJ 07746 this week is $499,000. The Average List Price $ 645,013 207 properties have been on the Asking Price Per Square Foot $ 185 ±+ market for an average of 186 days. Average Days on Market (DoM) 186 == Inventory of Properties Listed 207 ≠≠ Most Expensive Listing $ 2,500,000 Inventory has been lightening lately Least Expensive Listing $ 63,502 and the Market Action Index has been Average Age of Listing 22 trending up. Though days-on-market Percent of Properties with Price Decrease 45 % is increasing, these are mildly positive Percent Relisted (reset DOM) 19 % indications for the market. Percent Flip (price increased) 7% Median House Size (sq ft) 2793 Median Lot Size 0.50 - 1.0 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 2.5 Altos Research Value Statistics Home sales have been exceeding Market Action Index Strong Buyers 13.8 == new inventory for several weeks. The Market Action Index answers the question "Hows the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 Since this is a Buyers market prices implies a sellers advantage. Below 30, conditions give the advantage to the are not yet moving higher as excess buyer. inventory is consumed. However, as the supply and demand trends Trend Key: == Strong upward trend ≠≠ Strong downward trend continue, the market moves into the ±+ No change = Slight upward trend ≠ Slight downward trend Sellers zone, and we are likely to see upward pressure on pricing. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 1.0 - 2.5 Top/First $ 1,074,900 5470 acres 5.0 4.5 7 51 2 1 250 Most expensive 25% of properties 0.50 - 1.0Upper/Second $ 579,900 3122 acre 4.0 2.8 26 52 2 4 132 Upper-middle 25% of properties 0.50 - 1.0 Lower/Third $ 449,999 2569 acre 4.0 2.5 28 52 4 1 131 Lower-middle 25% of properties 0.25 - 0.50Bottom/Fourth $ 342,450 1846 acre 3.0 2.0 25 52 4 7 231 Least expensive 25% of propertiesPage 2 of 6 Monday August 8, 2011
  3. 3. Single Family Homes in Neighborhood Detail Vivian Morffi - Keller Williams Realty - vmorffi@kw.com MARLBORO, NJ 07746 Median Price We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see prices in this zip code have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels. First/Top Second/Upper Third/Lower Fourth/BottomPage 3 of 6 Monday August 8, 2011
  4. 4. Single Family Homes in Neighborhood Detail Vivian Morffi - Keller Williams Realty - vmorffi@kw.com MARLBORO, NJ 07746 Price per Square Foot The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average 90-day AveragePage 4 of 6 Monday August 8, 2011
  5. 5. Single Family Homes in Neighborhood Detail Vivian Morffi - Keller Williams Realty - vmorffi@kw.com MARLBORO, NJ 07746 Market Action Index The MARLBORO, 07746 market is currently quite strongly in the Buyers Advantage zone (below 30). The 90-day Market Action Index stands at 13.77. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyers Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a balance between supply and demand using a statistical function of the current rate of sale versus current inventory.Page 5 of 6 Monday August 8, 2011
  6. 6. Single Family Homes in Neighborhood Detail Vivian Morffi - Keller Williams Realty - vmorffi@kw.com MARLBORO, NJ 07746 Days on Market The properties have been on the market for an average of 186 days. Half of the listings have come newly on the market in the past 119 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/BottomPage 6 of 6 Monday August 8, 2011

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