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Thomas G. McDonough

Broker/Sales Associate

Summit

428 Springfield Avenue

Summit, NJ07901

Main:	908-273-0400	Office:	908-273-0400
Cell:	908-500-2338

tom.mcdonough@prudentialnewjersey.com

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Summit New Jersey Real Estate Market 6/1/2011

Active - 133

Attorney Review - 2

Under Contract - 59

Solds - 256

New listings in the last 2 weeks - 13

This is the height of the real estate market when sales should be the should be brisk. The new listings are up adding to the available number of homes for sale by 10% from a month ago. Houses that are under contract are up by 10% while solds are down 5%. Inventory is building but the sales are sluggish. At this rate if sales don't pick up, it will take several more months to sell what is out there. The homes that are in the best condition, in the best location that are priced to sell will sell.

tom@tommcdonough.com

www.tommcdonough.com

Posted by Thomas G. McDonough on 06/01/2011

Tags: review attorney houses inventory listings market priced real estate sale sales sell solds Summit tom@tommcdonough.com www.tommcdonough.com homes

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