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

Here’s what’s been happening lately.

Inventory:

• 41 homes were sold in Linden in July, compared to the 12 month average of 37 homes.
• There are 163 homes offered for sale in Linden today – compared to the 12 month average of 178 homes and compared to 213 homes that were on the market in July of last year.

	Inventory	Sold
July 2019	163	41
July 2018	213	40
12 month average	178.6	37

• As inventory shrinks, demand for homes usually increases. This can help to raise prices and/or shorten the length of time homes are on the market.

Prices:

• Average sale price in Linden in July was $323,293- compared to July of 2018 when the average sale price was $277,000 and compared to the 12 month average sale price of $278,063.
• Average list price in Linden in July was $296,146 – compared to July of 2018 when the average sale price was $275,444 and compared to the 12 month average sale price of $296,146.

	Average List Price	Average Sale Price
July 2019	$316,355	$323,293
July 2018	$275,444	$267,737
12 month average	$296,146	$278,063

• Linden has had a slow but steady improvement in prices for several years. The important thing to note about the graph is not the variability but rather the overall long term trend which is represented by the straight line which shows a healthy increase in home prices in Linden over the past seven years.

Days on Market:

• In July, the average sold home in Linden was on the market for 58 days – compared to the 12 month average of 58.6 days.

	Days on Market
July 2019	58
July 2018	51
12 month average	58.6

• Sales appears to have slowed down after a relatively quick summer. Sellers who want to stand out in the inventory will have to price their homes well so that they can sell fast.

 

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 see earlier market reports of Linden , please click here. If you’re thinking of buying or selling a Linden home, please call us at 908-917-4189.