In a recent Market Update, I mentioned prices having risen to buyer resistance levels. Now we have crested. In this chart, we compare sales for the towns we study, 2018 vs. 2019, YTD through August. Trends vary slightly among communities, and if I had to summarize, I would say sales volume is generally slightly up while average sale prices are gently reduced. The most significant price reductions were taken in the priciest towns.
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Millburn-Short Hills
Watchung
Warren
Westfield by Grade School:
Franklin
Jefferson
McKinley
Washington
Wilson
Scott Gleason scott@luxuryhomesnj.com
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes