As of today, Total Number of homes available for sale in Somerville NJ: 26

Average List Price of those 26 homes in Somerville, NJ: $284,208 with an Average of 3.4 Bedrooms, 1.6 Full Baths, and 0.7 Garages

Average Days on the Market: 60 days

Total number of homes that are currently Under Contract: 17

Average List Price of those 17 homes: $264,818 with an average of 3.4 Bedrooms, 1.6 Full Baths

In the last 30 days, the total number of homes that have gone Under Contract: 2

The current absorption rate for Somerville, NJ is: 6.5 months

In the last 30 days, the total number of homes that have Sold is 6

For the 6 homes, the average List Price was: $299,933 vs Average Sold Price of $289,000

Average Days on the Market for the sold homes was: 46 days

So, what do all these numbers mean?  The stats indicate that the Somerville market has slowed down a bit, however, a lot has to do with the lack of inventory.  This is great news for those home owners of Somerville that are looking to sell.  This is the time to sell your home!!  If you are buyer, act quickly.  If you see that perfect home, or a home that is close to perfect, buy it!!

If you are thinking of selling your house in Somerville, let me know so that I may give you a complimentary CMA and further discuss the market conditions.  If you are thinking of buying a home in Somerville, call me for a free buyer consultation.

Claudia Marrone is a top real estate agent in Somerset County with a successful track record.

Claudia Marrone
Realtor, Associate
NJAR Circle of Excellence Sales Award – Silver Level - 2012, 2013, 2014
Re/Max Classic Group
O: 908-393-8143
C: 908-304-4520

Source: GSMLS 03/18/2016