Let’s take a look at how the real estate market in Clark performed in June of 2018.

Inventory:

In May, 16 homes were sold and 101 homes were offered for sale, up from 98 homes offered for sale in May and compared to 75 homes offered for sale in June of 2017. To search for listings, please click here.

In real estate, supply and demand dictate prices. In Clark, sales remain brisk but the inventory is creeping up. This is still a seller’s market – there are still more buyers than there are sellers in Clark – but it’s definitely slowing down a little.

Prices:

The average list price in Clark in June was $544,555 and the average sale price was $470,688, about 1% higher than the 12 month average and 8% lower than June of 2017. Last month the average sale price was 2% higher than the 12 month average – even more evidence of a market that is slowing down. Homeowners are continuing to see a strong return on their real estate investment in Clark but there’s been a slight turnaround that we hope will be corrected next month.

Days on Market:

The average sold home in Clark in May was sold after only 43 days on the market – up from 32 days in April.

Homes sell faster when they are:

1. In pristine updated condition,
2. Are marketed aggressively, and
3. Are priced correctly.

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.