Millburn-Short Hills, NJ – The Simon Westfall-Kwong Real Estate Group is pleased to present the May Market Update for the Township of Millburn.
At this point, many township residents are wondering, “How long can this seller’s market last?” Is it too late to put my house on the market? Examining monthly sales trends helps us understand where the market is and where it appears to be heading in the near term. Current data suggests that the opportunity is still there to sell your home for maximum return.
Since the pandemic real estate boom, the biggest growth in average price and total sales has been in Short Hills while Millburn has seen a solid rise. May numbers were strong for Millburn with an average sale price above $ 1 million due to the closing of a few important announcements. Overall, average selling prices remain stable, but there is a noticeable increase in subcontracts and the total number of units sold compared to 2020 and 2019. The total number of active listings remains considerably below that of late May in recent years.
In Short Hills, the average selling price continues to be very high with the total number of units sold being much higher than in recent years. Days on the market still tend to go down, indicating a continued desire for housing in Short Hills, with the number of contract housing units significantly higher than the same period in 2019 and 2020, while the inventory of active ads remains significantly lower.
About the Simon Westfall-Kwong real estate group Keller Williams’ Simon Westfall-Kwong real estate group offers free consultations. They specialize in making houses optimally ready to sell quickly and with the highest net return. Contact Simon at 973-489-8885 or [email protected]
The Simon Westfall-Kwong real estate group has served New Jersey for over 15 years. They are: • Team 2020 sales volume exceeding 105 million dollars! * • # 1 Team Keller Williams Premier Properties at Millburn-Short Hills 2020 • Top 1% in New Jersey and local area * • Top 1% KW in the world * • N ° 7 out of more than 20,000 agents in GSMLS * • Circle of excellence 2011-2020 *