New Jersey Residential Real Estate
Albert Baron III
973-610-2621973-610-2621

Chatham NJ Real Estate Market is very Hot. Time to sell your home?

How does your Realtor know the temperature of the housing market? We examine the metrics. A key measurement is the Absorption Rate. This measures the supply and demand for homes in your specific town. Supply=Demand when there is a six(6) months supply of homes. As demand increases, the supply decreases. This in turn increases prices. In fact, homes are up 7% year over year. The inventory of homes for sale is at historic lows. To date, the supply of homes in Chatham Boro is 2.95 months, supply in Chatham Township is 6.57, Madison is 2.72 and Harding is 14.29 months supply. As you can see, both Chatham Boro and Madison are HOT markets. Harding is a buyers market. Homes are selling at huge discounts there. This spring is a perfect time to list your home for sale. Give me a call today to see what your home is worth.

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