Nutley Real Estate Report | October 1

I have to make this a quick one this month.  Sorry!  Running to a meeting.  In a nutshell, the average price of a home sold in Nutley is up this year compared to 2009 by a hair.  Overall sales volume is down and has steeply dropped off since June which was expected as the First Time Homebuyer Tax Credit expired.

Taking into consideration the weaker sales, you can get much more for your money today than you could have last year.  The average price per square foot on a sold house is down almost $10.  Here are some numbers for September for the Nutley real estate market:

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Rate of Absorption:  The amount of time it takes in months at the current level of inventory to sell out at the current rate of pending sales the previous month.  A healthy market typically has 6 months or less of inventory.  If Nutley can average 15 sales per month at the current rate of inventory, that would drop the absorption rate to just over 8 months.

If you would like to preview our month over month and year over year housing statistics for Nutley, CLICK HERE

As always, if you are looking to buy or sell a home in Nutley, NJ, you have come to the right place.  New Jersey Real Estate Guys will be happy to discuss some options and offer suggestions.  Our monthly market research can help provide you a clear picture of the market so you know ahead of time what your options are.  Call Scott at 877.688.7582 or e-mail me.

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