The Town Broker

Westfield Market Report – January, 2010

In Westfield NJ, the month of January closed with average sale prices, up and days on market down. Here are the key numbers for the month:

Number of Active Listings:          145

Number of Closed Sales:               11

Average Days on Market:             54

Average Sale Price:                      $941,682 

Check out this video report for more detail and analysis.

Tags: market report, real estate statistics, Westfield

Real Estate Statistics: What You Need To Understand. (Part 3)

Real estate statistics can be confusing, and real estate is FULL of statistics! In Part 1 of this 3-part series, I looked at market absorption, how it describes the “dynamics” of the real estate market, and how you can use it to your advantage! In Part 2, I reviewed how the days on market (DOM)  tells how much the market values a listing. In this post, I’ll cover the final of the big 3 statistics: Sale Price/ Original List Price Ratio.

Sale Price/ Original List Price Ratio. 

This number simply tells how close to the original asking price the seller got for their home. It is NOT the number most commonly reported by the major real estate websites, or even by agents and brokers when they tout their marketing success. As a consumer, you’re more likely to see Read the rest of this entry »

Tags: List to sale ratio, LP/SP, market report, real estate statistics