Homeowners and home buyers in Clark are smart to learn about the real estate market to help make an informed decision about when to buy and sell a home in Clark.

Here’s what’s been happening lately.

Inventory:

• 11 homes were sold in Clark in September, down from 15 in August.
• 85 homes were offered for sale in Clark in September, up from 82 in August.
• This inventory increase is not unusual for autumn but it does have predictable consequences. As inventory grows, demand for homes usually decreases. This can help to ;lower prices and/or increase the length of time homes are on the market.

Prices:

• Average sale price in Clark in September was $537,000, the result of a very strong summer market. Sale prices are likely to drop in the next month or two.

Days on Market:

• In September, the average sold home in Clark was on the market for 36 days – compared to 34 days in September of 2016 and compared to the 12 month average of 54.4 days.
• Shortened Days on Market is typical after a strong summer real estate market.
• As we move through autumn, the Days on Market is likely to increase.

For an explanation of how this impacts buyers and sellers, please click here.

What this means for buyers:

• Be educated. Learn what kind of home you want. Decide with your family members what you need in a home and what you want in a home.
• Be informed. Spend some time getting to know the inventory. Learn what homes look like in your price range. Learn what home features you can afford.
• Be ready. Have your pre-approval ready so that you can act quickly when you find your perfect home.

What this means for sellers:

• If you’re on the fence about selling your home, this may be the perfect opportunity to get the most money in the shortest amount of time.
• Even in a shrinking inventory situation, you’re still competing with other homes on the market. View the other homes that are offered for sale and make sure your home is the best one in its price range.
• Make your home available for potential buyers.

To read more about the real estate market in Clark, please read our earlier market reports here.  For more information on how Team Zuhl can help you, please click here or call us at 908-917-4189.