If you own a home in Linden, or if you want to own a home in Linden, this is the place to be for information about real estate values.
Inventory: There are currently 258 single family homes offered for sale ranging in price from $45,000 to $549,000. Twenty seven homes sold in Linden in November.
How does this compare to previous years?
The blue line in the graph represents the active inventory in Linden for the past several years. There are seasonal trends with inventory typically increasing in the summer and decreasing each winter. The trend line is the light blue straight line in the graph and it shows long term changes and eliminates the annual fluctuations. The inventory in Linden over the last four years shows little change. The red line at the bottom of the graph shows sales which has also been very steady for the past 4 years with a very slight increase in sales.
Prices:
In November of 2016, the average sold home was sold for $248,262. This is 14% higher than the 12 month average of $217,403 and 5.6% higher than last month’s average sale price.
The graph for Linden sale prices shows a lot of variability from month to month. As the market continues to improve, it’s reasonable to predict that variability will decrease but for now we still see big fluctuations. The important piece of this graph is this trend line which is the dark grey straight line on the graph. It shows the four year trend, eliminating the monthly variability. In January of 2012 home prices in Linden were around $202,000 whereas now they’re closer to $224,000.
Days on Market: Three factors affect how long your home will be on the market – price, condition, and marketing. Homes that are priced at market value sell faster than homes that are overpriced. Homes in better condition will sell faster than homes in poor condition. And homes that are marketed well will sell faster than homes that are not marketed well.
In November of 2016, the average sold home was sold after 79 days -about two and a half months as an active listing. This is a bit slower than average in Union County which we’ve been seeing in Linden for a number of years.
Here’s the graph showing how long it takes to sell a home in Linden going back and comparing the last 4 years. Homes are selling about a month faster than they were 4 years ago in Linden. This trend will hopefully continue as the Linden market improves.
If we can help you with your Linden home sale or purchase, please call us at 908-917-4189 or 201-674-3840.