The Elegant Law of Supply and Price
2019 is an extension of the trends of 2018. Lots of seniors decided somewhat simultaneously to decamp to cheaper environs, and entrepreneurs from near and far tried their hand at turning the most obsolescent homes in the market in to Cinderellas. The two trends combined boosted median asking prices and created an excess supply in most towns we study, especially above the local median. Excess supply > sluggish sales > price reductions > buyers wait and watch for more reductions.
Looking under the hood, beyond the simple town-by-town chart, all our towns are hot below the median and cool above. The further above the median, the more perfectly owners and agents must work to optimize their pricing and presentation. Homes are selling in every town: every owner controls whether their home is among the chosen.
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Fanwood
Westfield by Grade School:
Scott Gleason scott@luxuryhomesnj.com
RE/MAX SelectLuxury Homes for Sale in Westfield