Millburn-Short Hills June 2021 Market Update
By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
The market in Short Hills and Millburn is still hot as we move into the Summer months. There were 49 listings that closed in June, which marks the highest number of closings by month this year and more than usual for the first half of the year. Anecdotal feedback suggests that this may be partially due to more Use of Occupancy agreements put in place where sellers remain in the home after closing and buyers have the ability to lock in better interest rates.The most significant growth in average price and total sales remains in Short Hills while Millburn continues to have had a solid uptick. June numbers were strong for Millburn with Average Sales Price over $900k. Overall, Average Sales Prices are rising and have the potential to exceed the 2018 peak, and there is an increase in Under C...
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