Monday, August 30, 2010

How's the Market in Manchester, NJ, this week (Aug 27th, 2010)?

How's the real estate market in Manchester, NJ, for the week of August 27th, 2010? As the saying goes, "All real estate is LOCAL" and despite the dismal headlines last week, sales of Single Family Homes in Manchester appear to be stabilizing in certain price ranges. It is still a "Buyer's Market" with an abundance of inventory, lower home prices and record low mortgage rates. Let's take a look (Note; Altos Research does not differentiate between Single Family Homes and Adult Community Homes):

Fortunately, the Condo Market in Manchester appears to be stabilizing as 5 units sold in the last week and only 1 new unit came on the market:

Home prices appear to be stabilizing, across the board, in Manchester, over the last 6 months:

Medium Chart

So, "How's the Market in Manchester, NJ"? If you are in the market to buy a home, don't wait too long as it appears home prices may be stabilizing! If you MUST sell your home, price it right now as prices may begin to fall again in the fall? If you WANT to sell but don't HAVE TO sell, take your home off the market and allow your neighbor to MOVE ON with their lives. That's how the market is in Manchester, NJ, this week!

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