Trends are very important, and for the first time in several months, the inventory of homes for sale in Cranford NJ has risen above 60 active listings. Why is this significant? Well, maybe it isn't in the short term, but it definitely shows that for the first time in several months, the number of listings is outpacing the number of homes going under contract.

Needless to say, I am keeping an eye on this for all of my buyers and sellers, so that I can properly advise everyone and position their homes or their offers in a way that will best serve their interests in this ever changing real estate market.

Keep checking back for updates as the market conditions change.

Prepared by:
Sean Carroll - RE/MAX Classic Group
Realtor, Sales Associate
Serving the Communities of Cranford, Westfield, Berkeley Heights and surrounding areas

Cranford Realtor attends International Convention

Here is a copy of a recent press release:

Sean Carroll, Realtor for RE/MAX Classic Group attended the 34th annual RE/MAX International Convention in Atlanta, GA from March 3-7, 2007.
Sean had an opportunity to attend numerous educational sessions, and networking events, highlighted by speakers such as Howard Brinton, Brian Buffini, Stephen Covey and other great minds from around the world.

When asked about why he attended the convention, Sean stated: "I believe it is vitally important to stay educated about the latest tools and trends in our industry, while having an opportunity to network with associates from around the world. This will greatly beneift my clients, and enable me to continue to provide them with the type of service they expect"

Sean serves the communities of Cranford, Westfield, Garwood, Berkeley Heights and surrounding areas, and can be reached at his office at (908) 898-0800 or online at http://www.CranfordHomesOnline.com

Berkeley Heights Real Estate Market Report

For the 12 month period ending February 28, 2007 as compared to the 12 month period ending August 2006, there are some clear signs that the real estate market in Berkeley Heights, NJ has stabilized considerably. Prices and Inventory have leveled off, as the spring market approaches. Days on market has remained stable, as have the number of listings and list price to sales price ratio.

Average Days On Market:

12 mos Ending 8/2006: 52

12 Mos. Ending 2/2007: 60

List Price to Sales Price Ratio:

8/2006: 98%

2/2007: 97%

Total Listings Activated in MLS

8/2006: 4602

2/2007: 4836

These figures definitely support a more balanced and normalized real estate market, over the past several months, the amount of buyers and sellers has remained relatively equal. In the coming months, the inventory should rise, and depending upon the number of buyers, the prices and trends will react accordingly.

Prepared By:

Sean Carroll - Realtor

RE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns

Westfield NJ Homes for Sale and Homes Sold - February 2007

There are currently 175 single family homes and 5 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings.

Inventory levels are much higher than before, giving buyers more options when selecting a home. Although prices and demand in general have trended lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes.

I expect this price softening trend to continue for the next several months, with buyers willing to pay a fair price for homes, and disregarding homes that are priced considerably above market value.There were 18 properties that closed in February in Westfield, the average selling price was $707,105 and the average days on market was 72. (according to Garden State MLS Statistics)

Prepared By:Sean Carroll - RealtorRE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.gocarrollteam.com/

Cranford NJ Homes for Sale and Homes Sold

There are currently 57 single family homes and 5 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Inventory levels are much higher than before, giving buyers more options when selecting a home.

Although prices and demand in general have trended lower, Cranford still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. I expect this price softening trend to continue for the next several months, with buyers willing to pay a fair price for homes, and disregarding homes that are priced considerably above market value.

There were 10 properties that closed in January in Cranford, the average selling price was $488,720 and the average days on market was 73. (according to Garden State MLS Statistics)

Prepared By:Sean Carroll - RealtorRE/MAX Classic Group

Serving Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns as your Realtor!

http://www.CranfordHomesOnline.com

http://www.activerain.com/seanmusik