Price Reduced! 4/18 – 4/29

Welcome to another edition of Price Reduced!

For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that the Northern New Jersey real estate market has long since been overvalued and has started the long hard decline back to the mean. These listings are in no way an endorsement by myself, nor do I believe they are a bargain or a value. Even reduced, I still believe these homes are still grossly overpriced.

I’m going to break this down into three lists this week:

$1M+

MLS# 2256708 – Branchburg, NJ
Previous Price $1,400,000
List Price $1,079,000 (Price Reduced 22.9%)

MLS# 2257218 – Orange, NJ
Previous Price $1,990,000
List Price $1,649,000 (Price Reduced 17.1%)

MLS# 2256689 – Franklin Lakes, NJ
Previous Price $2,900,000
List Price $2,499,000 (Price Reduced 13.8%)

MLS# 2257604 – Wayne, NJ
Previous Price $1,499,000
List Price $1,299,900 (Price Reduced 13.3%)

MLS# 2237189 – Bernardsville, NJ
Previous Price $3,950,000
List Price $3,495,000 (Price Reduced 11.5%)

MLS# 2209416 – Upper Saddle River, NJ
Previous Price $1,299,000
List Price $1,149,000 (Price Reduced 11.5%)

$500K – 1M

MLS# 2261831 – Scotch Plains, NJ
Previous Price $1,100,000
List Price $849,900 (Price Reduced 22.7%)

MLS# 2262422 – Westfield, NJ
Previous Price $1,199,000
List Price $999,000 (Price Reduced 16.7%)

MLS# 2241465 – Mountain Lakes, NJ
Previous Price $1,195,000
List Price $995,000 (Price Reduced 16.7%)

MLS# 2259301 – Verona, NJ
Original List Price $1,295,000
Previous Price $1,195,000
List Price $999,000 (Price Reduced 16.4%, 22.9% off OLP)

MLS# 2252471 – Midland Park, NJ
Original List Price $750,000
Previous Price $734,700
List Price $649,000 (Price Reduced 11.7%, 13.5% off OLP)

MLS# 2247088 – Wyckoff, NJ
Previous Price $789,000
List Price $699,000 (Price Reduced 11.4)

Sub 500k

MLS# 2268518 – Livingston, NJ
Previous Price $599,000
List Price $479,000 (Price Reduced 20%)

MLS# 2264899 – Newton, NJ
Previous Price $299,000
List Price $250,000 (Price Reduced 16.6%)

MLS# 2249970 – Lebanon, NJ
Previous Price $449,900
List Price $379,000 (Price Reduced 15.8%)

MLS# 2268096 – Maplewood, NJ
Previous Price $379,000
List Price $320,000 (Price Reduced 15.6%)

MLS# 2231166 – Clifton, NJ
Original List Price $479,000
Previous Price $439,900
List Price $380,000 (Price Reduced 13.6%, 20.7% off OLP)

MLS# 2251894 – Chatham, NJ
Original List Price $599,900
Previous Price $479,900
List Price $425,000 (Price Reduced 11.4%, 29.2% off OLP)