2011 was a fairly decent year in terms of number of houses sold in the area and we expect 2012 to be a vibrant year yet. Here are some interesting statistics:
| # of houses sold in 2011 | Current Active Properties | Under Contract Since 01/01/12 | |
| Maplewood | 227 | 126 | 4 |
| South Orange | 146 | 80 | 2 |
| Millburn/Short Hills | 218 | 74 | 3 |
| Summit | 201 | 71 | 5 |
| Livingston | 243 | 98 | 3 |
| Montclair | 297 | 142 | 3 |
| Westfield | 313 | 109 | 7 |
One interesting thing to note is how incredibly active the Westfield market has been. The population of that town is just under 30,000. The population of West Orange is about 46,000 and the population of Montclair is about 39,000. These are the two towns who have performed similarly to Westfield. Given the lower population in Westfield, it is clear that the town is outperforming some others in the area.
For further comparisons:
Maplewood population: 24,000
South Orange: 17,000
Millburn/Short Hills: 20,000
Summit: 21,000
Livingston: 35,000
Buckle your seat belts as I believe we are in for an amazing Spring Market 2012! There is pent up demand out there along with crazy low interest rates and an affordability index that has not been present in this area for a very long time!
If you are looking to sell your home this Spring, please call me for a consultation ASAP. If you have any friends or colleagues who are looking in any of these or surrounding areas, please think of me. I am never too busy for your referrals and they are greatly appreciated!
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