Midtown Direct Real Estate News

For those of you who think 2007 was a disastrous year in Madison NJ Real Estate, there were 174 homes which sold in Madison NJ 07940.  Not too terrible compared to what the general public thinks.  2007 really was not a bad year for home sellers who were willing to price their homes properly form the start.  For those home sellers who were not willing to price their homes properly from the start, 2007 was a really bad year.  Ether these over pricers did not sell at all, or they had to lower the price of their home well below what it would have sold for if priced properly in the beginning.

Here are the Madison NJ Real Estate Statistics:

$345,000       Lowest priced home to sell in Madison NJ
$5,695,000    Highest priced home to sell in Madison NJ
$816,037        Average price of a home to sell in Madison NJ
$599,900       Median Price of a home to sell in Madison NJ
   61.8              Average days to sell a Madison NJ home in 2007
   42.0             Median days to sell a Madison NJ home in 2007

So where are we today?  The Madison NJ real estate market seems to have hit rock bottom in August and September of 2007 and actually be trending sideways to slightly higher since.  The home buyers are out there, I have been working with many of them, and they have been writing offers that work on homes for sale.

If you are needing professional assistance with Madison NJ area real estate please don’t hesitate to call me at 973-647-0253 or drop me a e-mail.

James Boyer
NJ REALTOR Associate
RE/MAX Properties Unlimited
One Madison Avenue
Morristown NJ 07960
973-647-0253 Direct
973-539-6300 Office
Madison NJ Realtor