Here it is! The first look at pending home sales (contracts) for Northern NJ.
(Source GSMLS, except Bergen- NJMLS) – Updated with 2011 Data
July Pending Home Sales (Contracts)
——————————-
Bergen County
July 2011 – 594
July 2012 – 775
July 2013 – 846 (Up 9.2% YOY, Up 42.4% Two Year)
Essex County
July 2011 – 279
July 2012 – 367
July 2013 – 502 (Up 36.8% YOY, Up 79.9% Two Year)
Hunterdon County
July 2011 – 111
July 2012 – 137
July 2013 – 172 (Up 25.5% YOY, Up 55.0% Two Year)
Morris County
July 2011 – 377
July 2012 – 397
July 2013 – 533 (Up 34.3% YOY, Up 41.1% Two Year)
Passaic County
July 2011 – 180
July 2012 – 222
July 2013 – 329 (Up 48.2% YOY, Up 122.8 Two Year)
Somerset County
July 2011 – 253
July 2012 – 280
July 2013 – 366 (Up 30.7% YOY, Up 44.7% Two Year)
Sussex County
July 2011 – 107
July 2012 – 116
July 2013 – 182 (Up 56.9% YOY, Up 70.1% Two Year)
Union County
July 2011 – 249
July 2012 – 293
July 2013 – 376 (Up 28.3% YOY, Up 51.0% Two Year)
Warren County
July 2011 – 58
July 2012 – 83
July 2013 – 119 (Up 43.4% YOY, Up 105.2% Two Year)
July Sales Snapshot
Bergen County
July 2011 – 635 Sold – $523,836 Avg SP – 92 DOM – SP/LP 90.29%
July 2012 – 689 Sold – $518,310 Avg SP – 88 DOM – SP/LP 92.46%
July 2013 – 955 Sold – $562,782 Avg SP – 75 DOM – SP/LP 94.46%
Essex County
July 2011 – 329 Sold – $511,667 Avg SP – 78 DOM – SP/LP 96%
July 2012 – 376 Sold – $476,296 Avg SP – 82 DOM – SP/LP 97%
July 2013 – 499 Sold – $516,114 Avg SP – 62 DOM – SP/LP 98%
Passaic County
July 2011 – 176 Sold – $325,614 Avg SP – 108 DOM – SP/LP 95%
July 2012 – 209 Sold – $306,961 Avg SP – 120 DOM – SP/LP 95%
July 2013 – 289 Sold – $321,703 Avg SP – 91 DOM – SP/LP 96%
Morris County
July 2011 – 406 Sold – $528,796 Avg SP – 76 DOM – SP/LP 95%
July 2012 – 488 Sold – $477,845 Avg SP – 82 DOM – SP/LP 96%
July 2013 – 593 Sold – $548,820 Avg SP – 63 DOM – SP/LP 97%
Union County
July 2011 – 323 Sold – $465,636 Avg SP – 74 DOM – SP/LP 96%
July 2012 – 353 Sold – $450,798 Avg SP – 83 DOM – SP/LP 97%
July 2013 – 388 Sold – $516,886 Avg SP – 74 DOM – SP/LP 97%
Somerset County
July 2011 – 311 Sold – $483,377 Avg SP – 77 DOM – SP/LP 96%
July 2012 – 361 Sold – $511,658 Avg SP – 88 DOM – SP/LP 96%
July 2013 – 423 Sold – $470,815 Avg SP – 69 DOM – SP/LP 97%
Sussex County
July 2011 – 102 Sold – $241,502 Avg SP – 142 DOM – SP/LP 94%
July 2012 – 118 Sold – $234,120 Avg SP – 113 DOM – SP/LP 93%
July 2013 – 127 Sold – $258,694 Avg SP – 123 DOM – SP/LP 96%
Hunterdon County
July 2011 – 107 Sold – $427,146 Avg SP – 97 DOM – SP/LP 94%
July 2012 – 118 Sold – $399,964 Avg SP – 88 DOM – SP/LP 96%
July 2013 – 185 Sold – $420,327 Avg SP – 88 DOM – SP/LP 97%
Warren County
July 2011 – 80 Sold – $225,105 Avg SP – 116 DOM – SP/LP 95%
July 2012 – 79 Sold – $212,656 Avg SP – 124 DOM – SP/LP 96%
July 2013 – 99 Sold – $232,496 Avg SP – 112 DOM – SP/LP 96%
Data Dump Weekend!
July Inventory (ugh)
Bergen County
2011 – 6682
2012 – 5426
2013 – 4393
Morris County
2011 – 4887
2012 – 4265
2013 – 3499
Passaic County
2011 – 3273
2012 – 2916
2013 – 2393
Essex County
2011 – 4360
2012 – 3687
2013 – 3028
Union County
2011 – 3818
2012 – 3349
2013 – 2777
And there is no inventory because ______ .
I’d say context, but it doesn’t fit in the slot.
There is still more inventory on the market right now, today, than there was from the entire 2001 to 2005 period.
With rising interest rates,I dont see people holding a 3.5% rates and below that was bought during the downturn and before 2000 selling,unless they really need to move.They got home prices at the low and the best interest rates.Rising rent cost will make owning this homes cheap compared to renting.HARP made all this happen.
There is still more inventory on the market right now, today, than there was from the entire 2001 to 2005 period.
Too bad most of it is trash or in a sh1tty location or on the island of unwanted houses. And a hidden gem is a hidden gem for a reason. It’s gone in a flash because it truly is a hidden gem, not a sales pitch by some listing agent hoping you won’t notice the 15 reasons why the house really s.ucks.
Grim, do you have this data for southern nj (ocean county)?
must read
Hiding Economic Depression With Spin
http://www.counterpunch.org/2013/08/02/hiding-economic-depression-with-spin/
The current Depression will not remain under wraps much longer.
It’s all spinning out of control.
Go Redbulls!
The End Is Nigh (clot Uplifting Spiritual Edition):
Christian children’s entertainer who allegedly plotted to kidnap and eat kids sentenced to 20 years in jail
A Christian children’s entertainer who allegedly plotted to kidnap, cook and eat a child has been jailed for 20 years.
Ronald William Brown, from Largo, Florida, was handed the sentence for possession of child p0rnography.
This was despite him regularly warning children about the sin of p0rnography on his long-running Christian Television Network show.
Brown, 58, also plotted online with Michael Arnett about targeting a specific child to kill and eat.
“I imagine him wiggling and then going still,” Brown is reported telling Arnett in their online chats.
According to Gawker, Brown solicited obscene images of children being tied up, gagged, or otherwise harmed. He wrote out his murder fantasies in online forums and tried to procure photos of dead children.
Brown says he never wanted to actually act out the fantasies.
He’ll be required to register as a sex offender upon his release after 20 years of prison and have to submit to regular probation reviews for the rest of his life.
Brown also will not be allowed to access a computer with an internet connection.
A NATION OF HAMBURGER FLIPPERS http://finance.yahoo.com/blogs/daily-ticker/become-nation-hamburger-flippers-dan-alpert-breaks-down-145831220.html;_ylt=AnnzBp.h5.IX23NVPRpuvlOiuYdG;_ylu=X3oDMTN1djliOWFvBG1pdANGaW5hbmNlIEZQIE1lZ2F0cm9uIDIEcGtnA2YxYzEyZTRiLThjZGQtM2NiMy1iYjhkLTU2ODNlYjBkNzc1NQRwb3MDMQRzZWMDbWVnYXRyb24EdmVyAzVkM2I1MzAxLWZiODQtMTFlMi1iZmZiLTNmMjg1MjU3YWI4Ng–;_ylg=X3oDMTFkcW51ZGliBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA–;_ylv=3
Grim [2];
Inventory numbers surprise me. I’m seeing more lawn signs than I have in this area for the last two years. One of note tried the “Happy Days are Here Again” pricing strategy and badly missed; required $75k in price cuts made over 2 mos.
Grim [1];
SP/LP, and to a lesser extent DOM… do these have any value? Considering how manipulated they are, they can only be reliable if they favor the Realtor/sellers market theory, no?
Recovery! Except that I haven’t seen $5 tables on a Sat. in the CT casinos for a decade, but that’s where they were this weekend.
Steady flow of REO properties is now moving through the sheriff sales in NJ. This inventory will begin showing up in MLS within 3 or 4 months and it won’t stop for 5 years or more.
11,
A Christian Children’s entertainer? Just who I’d expect to be a perv.
Want fries with that?
“What you’re seeing is now the spreading of low wage growth,” he says, noting those trends continued in Friday’s July jobs report. “Really we have become a nation of hamburger flippers, Wal-Mart sales associates, barmaids, checkout people and other people working at very low wages.”
Yes We Can!
http://www.nj.com/politics/index.ssf/2013/08/new_hampshire_gun_rights_group_sends_christie_a_warning_on_gun_control_legislation.html
http://www.nj.com/gloucester-county/index.ssf/2013/08/42m_red-light_camera_settlement_could_be_split_among_500k_drivers.html#incart_river
For those of you who received a ticket in the mail. Jeeez , you get $8.50 back or 10 cents on the dollar. Only in America ,and NJ
Grim – Lil Gator and I saw a Fit EV while we were walking on Ridgewood Ave today. Stu said it must have been you showing houses in the Ridge? True? We’re still waiting for ours.
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