WMH
SUMMIT, NJ MA RC H 2 01 7
Month Year
Months of Supply
# of Units Sold
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16
2.68 3.63 4.71 4.72 3.90 3.65
15 16 17 17 40 40
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17
2.52 1.77 2.59 2.39 2.26 1.63 1.80 3.33 4.38
38 33 29 24 16 29 5 13 29
March Active Sold 6th Month Average Sold Per Month Months of Supply
WHAT DOES MARCH 2017’S SIX-MONTH ABSORPTION RATE MEAN FOR SUMMIT? Monthly Absorption Rate
0-2 Months 3-4 Months Low Market Inventory
5-7 Months Balanced
8-10 Months 11-12+ Months High Market Inventory
Seller's Market
Market
Buyer's Market
Six-Month Absorption Rate 2017
2016
Change
84 115
91 116
-7.7% -0.9%
19.17 4.38
19.33 4.71
-0.8% -6.9%
March
2017
2016
Y-o-Y
Total Homes Sold Average Original List Price Average Sold Price Median Sold Price Average Days on Market from Original List Date Average Sold Price/Original List Price
29
17
70.6%
$1,248,310 $1,195,327 $1,225,000
$789,724 $721,529 $476,000
58.1% 65.7% 157.4%
53
140
-62.1%
95.5%
98.6%
-3.2%
Address
Original List Price (OLP)
Style
# BRS
# BTHS
Sold Price (SP)
Days on Market
SP/OLP
133 Summit Ave 412 Morris Ave, UNIT 9 412 Morris Ave, UNIT 44 103 Park Ave, UNIT C5 62 PASSAIC AVE 17 Nassau Dr 14 Middle Ave 219 Mountain Ave 15 W End Ave 17 Joanna Way 65 Ashland Rd 15 Argyle Ct 9 Bedford Rd 22 Gloucester Rd 71 Franklin Pl 19 Highland Dr 8 DEVON ROAD 3 Sunset Dr 17 Rowan Rd 42 Colt Rd 2 Dorchester Rd 42 Oak Ridge Ave 37 Hawthorne Pl 248 Woodland Ave 39 Tanglewood Dr 9 Cleveland Rd 15 Friar Tuck Cir 36 Blackburn Pl 255 Summit Ave
$275,000 $335,000 $350,000 $439,000 $499,000 $649,000 $535,000 $614,000 $695,000 $850,000 $869,000 $895,000 $1,189,000 $1,385,000 $1,275,000 $1,279,000 $1,300,000 $1,375,000 $1,540,000 $1,395,000 $1,499,000 $1,599,999 $1,575,000 $1,995,000 $1,999,000 $2,295,000 $2,300,000 $2,495,000 $2,700,000
OneFloor FirstFlr TwnIntUn TwnEndUn CapeCod Ranch CapeCod Colonial Colonial RanchRas Colonial Ranch Colonial RanchExp HalfDupl Colonial Colonial SplitLev Custom Tudor Colonial Colonial Colonial Colonial Colonial Colonial RanchExp Colonial Colonial
1 2 2 3 4 3 4 3 3 4 4 3 4 5 3 5 5 4 4 4 5 6 5 6 6 6 6 5 7
1 1 1 2.1 3 1.1 2 1.1 1.1 3 3 3 2.1 3.2 3.1 3.1 4 3.1 4.1 4 4.2 3.2 3.1 6.1 5.1 5.1 4.1 3.2 6.1
$240,000 $320,000 $352,100 $454,888 $499,000 $518,000 $534,000 $614,000 $649,000 $737,500 $889,000 $876,000 $1,050,000 $1,177,500 $1,225,000 $1,250,000 $1,265,000 $1,335,000 $1,375,000 $1,300,000 $1,400,000 $1,515,000 $1,500,000 $2,250,000 $2,020,000 $2,102,500 $2,180,000 $2,436,000 $2,600,000
125 37 25 11 12 43 48 9 78 19 5 17 118 15 29 22 24 55 121 47 49 93 104 5 170 81 0 16 163
87.27% 95.52% 100.60% 103.62% 100.00% 79.82% 99.81% 100.00% 93.38% 86.76% 102.30% 97.88% 88.31% 85.02% 96.08% 97.73% 97.31% 97.09% 89.29% 93.19% 93.40% 94.69% 95.24% 112.78% 101.05% 91.61% 94.78% 97.64% 96.30%
4 4
3.1 3.1
$1,195,327 $1,225,000
53 37
95.46% 96.08%
Average Median
$1,248,310 $1,279,000
* denotes home that was previously listed for sale.
JUDY WATSON
REGINA MCAULEY
908.337.3327 M
925.899.8739 M
908.451.5005 M
KARA THOMS
CHRISTINE MURPHY
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
908.759.6494 M
PAMELA HAYES
WWW.LOISSCHNEIDERREALTOR.COM
908.531.2397 M
FOLLOW The WMHgroup:
If your house is currently listed, this is not intended as a solicitation. This representation is based in whole or in part on data supplied by the GSMLS, LLC. The GSMLS, LLC does not guarantee nor is any way responsible for its accuracy. Data maintained by the GSMLS, LLC may not reflect all real estate in the market.
©2017 Kara M. Thoms
WMH
SUMMIT, NJ 1 Q 20 1 7
January-March Berkeley Heights Chatham Borough Chatham Township Madison New Providence Short Hills/Millburn Summit
Number of Closed Sales 2017 29 6 12 26 18 47 52
2016 26 6 8 22 20 34 48
Change 11.5% 0.0% 50.0% 18.2% -10.0% 38.2% 8.3%
Average Sold Price
January-March
2017 2016 Change Berkeley Heights $580,684 $559,010 3.9% Chatham Borough $617,833 $980,000 -37.0% Chatham Township $886,750 $945,000 -6.2% Madison $800,694 $845,409 -5.3% New Providence $591,750 $615,400 -3.8% Short Hills/Millburn $1,228,899 $1,343,860 -8.6% Summit $1,034,800 $749,526 38.1%
Median Sold Price
January-March
2017 2016 Change Berkeley Heights $530,000 $550,000 -3.6% Chatham Borough $613,250 $957,500 -36.0% Chatham Township $520,000 $945,000 -45.0% Madison $650,000 $649,250 0.1% New Providence $581,000 $592,500 -1.9% Short Hills/Millburn $1,080,000 $1,107,500 -2.5% Summit $1,050,000 $554,865 89.2%
January-March Berkeley Heights Chatham Borough Chatham Township Madison New Providence Short Hills/Millburn Summit
Average Days On The Market 2017 157 89 108 102 160 98 68
2016 171 78 164 112 127 72 132
Change -8.2% 14.1% -34.1% -8.9% 26.0% 36.1% -48.5%
Address
Original List Price (OLP)
Style
# BRS
# BTHS
Sold Price (SP)
Days on Market
SP/OLP
133 Summit Ave 412 Morris Ave, UNIT 9 13 Russell Place 412 Morris Ave, UNIT 44 382 Morris Ave, UNIT 3C 24 South St 412 Morris Ave, UNIT 20 133 Summit Ave 133 Summit Ave 103 Park Ave, UNIT C5 62 PASSAIC AVE 17 Stockton Rd 14 Henry St 14 Middle Ave 28 Huntley Rd 219 Mountain Ave 37 Madison Ave 17 Nassau Dr* 117 Canoe Brook Pkwy 23 VALEMONT WAY 15 W End Ave 28 Brantwood Dr 17 Joanna Way 65 Ashland Rd 15 Argyle Ct 141 Tulip St 17 Oakley Ave
$275,000 $335,000 $345,000 $350,000 $350,000 $359,900 $379,900 $399,000 $399,000 $439,000 $499,000 $499,900 $500,000 $550,000 $579,000 $614,000 $640,500 $649,000 $659,000 $685,000 $695,000 $725,000 $850,000 $869,000 $895,000 $1,020,000 $1,145,000
OneFloor FirstFlr Colonial TwnIntUn OneFloor Colonial OneFloor OneFloor FirstFlr TwnEndUn CapeCod SplitLev CapeCod CapeCod Ranch Colonial Colonial Ranch Colonial Colonial Colonial Ranch RanchRas Colonial Ranch Tudor Tudor
1 2 3 2 2 3 2 2 2 3 4 3 3 4 3 3 3 3 4 4 3 3 4 4 3 3 4
1 1 1 1 2 1.1 2 1 1 2.1 3 1.1 1 2 2 1.1 2 1.1 2 2.1 1.1 2 3 3 3 3.1 4.1
$240,000 $320,000 $352,000 $352,100 $329,000 $390,000 $350,000 $375,000 $394,000 $454,888 $499,000 $499,900 $467,500 $534,000 $477,000 $614,000 $630,000 $518,000 $650,000 $702,000 $649,000 $735,000 $737,500 $889,000 $876,000 $1,050,000 $1,132,000
125 37 43 25 130 39 98 32 43 11 12 18 72 48 61 9 58 122 21 9 78 27 19 5 17 21 0
87.27% 95.52% 102.0% 100.60% 94.00% 108.4% 92.1% 93.98% 98.75% 103.62% 100.00% 100.00% 93.50% 97.09% 82.4% 100.00% 98.4% 79.82% 98.6% 102.48% 93.38% 101.4% 86.76% 102.30% 97.88% 102.9% 98.9%
40 CANOE BROOK PKWY 9 Bedford Rd 33 Glen Oaks Ave 30 GARDEN ROAD 107 FERNWOOD ROAD* 73 Franklin Pl 71 Franklin Pl 19 Highland Dr 3 Sunset Dr 22 Gloucester Rd* 8 DEVON ROAD* 42 Colt Rd 160 Oak Ridge Ave 17 Rowan Rd 42 Oak Ridge Ave* 37 Hawthorne Pl 80 Prospect St 2 Dorchester Rd* 248 Woodland Ave 39 Tanglewood Dr* 9 Cleveland Rd 15 Friar Tuck Cir 36 Blackburn Pl 255 Summit Ave 66&68 Templar Way* 14 Pine Grove Ave*
$1,150,000 $1,189,000 $1,195,000 $1,195,000 $1,245,000 $1,250,000 $1,275,000 $1,279,000 $1,375,000 $1,385,000 $1,385,000 $1,395,000 $1,495,000 $1,540,000 $1,599,999 $1,650,000 $1,650,000 $1,795,000 $1,995,000 $1,999,000 $2,295,000 $2,300,000 $2,495,000 $2,700,000 $2,700,000 $3,200,000
Colonial Colonial CapeCod Colonial Colonial HalfDupl HalfDupl Colonial SplitLev RanchExp Colonial Tudor Colonial Custom Colonial Colonial Colonial Colonial Colonial Colonial Colonial RanchExp Colonial Colonial Tudor Ranch
4 4 4 4 4 3 3 5 4 5 5 4 5 4 6 5 5 5 6 6 6 6 5 7 6 4
2.2 2.1 3 4 3 3.1 3.1 3.1 3.1 3.2 4 4 4.2 4.1 3.2 3.1 3.1 4.2 6.1 5.1 5.1 4.1 3.2 6.1 4.1 5.1
$1,078,000 $1,050,000 $1,110,000 $1,075,000 $1,025,000 $1,150,000 $1,225,000 $1,250,000 $1,335,000 $1,177,500 $1,265,000 $1,300,000 $1,468,500 $1,375,000 $1,515,000 $1,500,000 $1,700,000 $1,400,000 $2,250,000 $2,020,000 $2,102,500 $2,180,000 $2,436,000 $2,600,000 $1,300,000 $1,740,000
49 118 96 41 118 89 29 22 55 15 24 47 35 121 117 104 16 98 5 210 81 0 16 163 305 437
93.7% 88.31% 92.9% 90.0% 82.33% 92.00% 96.08% 97.73% 97.09% 85.02% 91.34% 93.19% 98.23% 89.29% 94.69% 90.91% 103.03% 77.99% 112.78% 101.05% 91.61% 94.78% 97.64% 96.30% 48.1% 54.38%
Average Median
$1,140,343 $1,145,000
4 4
3 3
$1,034,800 $1,050,000
68 43
93.63% 95.52%
* denotes home that was previously listed for sale.
JUDY WATSON
REGINA MCAULEY
908.337.3327 M
925.899.8739 M
908.451.5005 M
KARA THOMS
CHRISTINE MURPHY
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
908.759.6494 M
PAMELA HAYES
WWW.LOISSCHNEIDERREALTOR.COM
908.531.2397 M
FOLLOW The WMHgroup:
If your house is currently listed, this is not intended as a solicitation. This representation is based in whole or in part on data supplied by the GSMLS, LLC. The GSMLS, LLC does not guarantee nor is any way responsible for its accuracy. Data maintained by the GSMLS, LLC may not reflect all real estate in the market.
©2017 Kara M. Thoms
