Essex County, NJ Real Estate News

By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
We are just over the 1-year mark of the current Seller’s Market in Millburn Township. Mortgage rates remain at record-level lows which makes buyers more willing to pay a premium for property here. Sellers still frequently experience high demand when listing their home in the township, and we've seen that many of our listing clients have experienced multiple offer situations.July stats reflect a continued surge in record-pacing activity for the township. Number of units sold-to-date are tremendously higher than past years for both towns with Short Hills displaying a particularly high increase by the end of July and strong numbers for Millburn as well. The luxury market in Short Hills has been especially active compared to past years, resulting in average year-to-date home sale prices exc...
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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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By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
At this point many township residents are asking, “How long can this Seller’s Market last? Is it too late to put my home on the market?” Looking at the monthly sales trends helps us understand where the market is and where it looks to be heading in the near-term. The current data suggests that the opportunity is still there to sell your home for an optimal return. Since the pandemic real estate boom, the more significant growth in average price and total sales has been in Short Hills while Millburn has had a solid uptick. May numbers were strong for Millburn with Average Sales Price over $1M due to a few large listings closing. Overall, Average Sales Prices remain steady, but there's a noticeable increase in Under Contracts and Total Number of Units Sold compared to both 2020 and 2019. ...
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By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
The Spring real estate market is in full swing! For sellers and current property owners, the market trend news remains positive. Numbers indicate a continued strong Seller’s Market. For the entire township, Days on Market is still down significantly for April year-over-year. In Short Hills, the average Sales Prices remain substantially higher for both year-to-year and month-to-month. Sales Price to List Price ratios remain high, proving a willingness from buyers to pay the current market rate. In Millburn, Active Listings remain low as Under Contract listing counts are much higher than past years at this time. In Short Hills, Active Listings are increasing but still remain relatively low with Under Contract listings much higher than past years.Millburn April 2021 Market UpdateShort Hill...
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By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
The Simon Westfall-Kwong Real Estate Group is pleased to provide the March Market Update for Millburn Township. The Spring Market is here and it’s an unprecedented time for Sellers. With top-rated schools and easy access to NYC trains, Millburn and Short Hills are sought-after areas for buyers. Low interest rates on mortgages provide an added incentive for buyers to proceed with a purchase. Although still much lower than in years past, we are starting to see more inventory become available, giving buyers more options. Average Days on Market has started to rise in both towns. The average Sales Price is leveling off a bit, although overall volume of sales in Short Hills is almost 60% higher than in the first quarter of last year. Active listings are rising, (typical for this time of year)...
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By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
Although 2020 was a very tough year for many business sectors, our local residential real estate market ended up incredibly strong. We are fortunate that our area is in a unique location. After the initial lock-down ended, we had buyers coming from Manhattan, Jersey City, Brooklyn and elsewhere. Many were wanting to get out of high-density areas and wanted more space with home offices and yards, and still have the option for easy commutes to the city. The December market is usually quieter, but this year we stayed extra busy closing out residential sales with significant gains over past years. The number of units sold and under contract for both Short Hills and Millburn in 2020 were substantially higher than 2019. Both Millburn and Short Hills 2020 sales price averages increased over 20...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
Short Hills NJ Real Estate Listing(Updated Daily)(Essex County)https://myre.io/0hqXJ8ivp5LaUThe data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. and Weichert, Realtors® - Warren. Real estate listings held by other brokerage firms are marked as IDX listing. Information deemed reliable but not guaranteed. Copyright © 2020 Garden State Multiple Listing Service, L.L.C. All rights reserved. This information is being provided for Consumer's personal, non-commercial use and may not be used for any purpose Sellers' Advice https://bit.ly/351Tbqx Buyers' Advice https://bit.ly/3n0Cmm3   No/Central NJ Town Listings https://bit.ly/32YoroI    Our New Homes & Commercial Listings  https://bit.ly/3lWVEbC  Our Listin...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
Millburn New Jersey Real Estate Listing (Updated Daily) (Essex County)https://myre.io/0SJk3Lwf02OfH The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. and Weichert, Realtors® - Warren. Real estate listings held by other brokerage firms are marked as IDX listing. Information deemed reliable but not guaranteed. Copyright © 2020 Garden State Multiple Listing Service, L.L.C. All rights reserved. This information is being provided for Consumer's personal, non-commercial use and may not be used for any purposeSellers' Advice https://bit.ly/351Tbqx Buyers' Advice https://bit.ly/3n0Cmm3   No/Central NJ Town Listings https://bit.ly/32YoroI    Our New Homes & Commercial Listings  https://bit.ly/3lWVEbC  Our...
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By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
One of the hottest topics in town is always the value of our real estate! In January, we were seeing a stronger shift to a Buyer’s Market for Millburn-Short Hills, but the pandemic has turned it into a Seller’s Market for the Township and most of our region. In Millburn Township, more homes are receiving multiple offers and a majority are selling for above assessed value.Homes are selling quickly, with average days on market down almost 10% from last year. The sold price is up over 6% in Short Hills, which translates to an average of just over $100,000 higher than last year. Active listings are down by over 25%, adding increased pressure on the buy side.As of October 1st, there were 59 homes under contract compared to 37 last year, reflecting a much stronger Fall market than usual with ...
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By Simon Westfall-Kwong, The Simon Westfall-Kwong Real Estate Group
(Keller Williams Realty, North Central New Jersey)
The Enclave at Short Hills is the newest, most luxurious, and exciting new townhouse community in Short Hills NJ! With only 30 exceptional carriage homes, The Enclave at Short Hills is a gated community in an absolutely outstanding location with upscale dining, shopping, and unparalleled schools and access to New York City via NJ Transit Midtown Direct only a few blocks away. Search for Listings in The Enclave at Short Hills2020 Solds in The EnclaveVisit our website to view Floor Plans and listings for properties below!  June 10, 202041 Woodstone Circle, 3 Bedroom, 3.5 Baths$1,640,000September 12, 201819 Woodstone Circle, End Unit, 3 Bedrooms, 3.5 Baths$970,000January 31, 201821 Woodstone Circle, Interior, 3 Bedrooms, 3.5 Baths$950,000
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By Malik Crichlow, Maplewood,SouthOrange,Union Real estate
(GoodBuy Homes NJ Essex & Union County Real Estate specialist)
It's just me one of your local Real Estate tax paying guys who needs some answers...Before we get into that; let me share with you two things that happened today...1. A buyer asked me to show him a few properties tomorrow...My answer was HMMMMMMM... I don't know if I can or should. I'll get back to you.2. You issued an update to your essential list of businesses that be open and added some that I question just a lil bit. You added cell phone shops , (Didn't know that the demand for these were so critical) Livestock ,(really dude? shoprite will do for now)Nurseries & garden centers  (We can't work, so we might as well plant!) and my personal favorite Bicycle shops.  (Just be home before the streets lights come on son)  Let me just say whether it is in the best interest of public safety f...
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By Malik Crichlow, Maplewood,SouthOrange,Union Real estate
(GoodBuy Homes NJ Essex & Union County Real Estate specialist)
As the coronavirus continues to plauge the world there are no doubt many, many questions regarding what is essential business and what is not.   Naturally for any REALTOR, RAW (ready, willing & able) buyer and/or  Motivated seller the answer is ...  I just received the following message and was a little unclear regarding us NJ Realtors and just was wondering...   Are we "essential business" or NAH? Lets define essential: absolutely necessary; extremely important.  SOUNDS LIKE US RIGHT??   We stimulate the economy with every set of keys we hand over... We rebuild communities and help those menacing eye sores vanish into thin air... For crying out loud I was involved with a property that received 26 offers 3 weeks ago...   The market was booming and then came coronavirus...  Now many of u...
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By inboundREM Market Updates
(InboundREM)
The Regency Club, Livingston, New JerseyReal Estate in The Regency ClubThe Regency Club is a residential development in the southwestern part of the township of Livingston, New Jersey. The neighborhood is located in a well developed part of the city next to various corporate headquarters, a shopping mall, a school campus, a hospital, and manufacturing companies. Professionals working in these companies will find convenient home options within the Regency Club subdivision.Real estate in The Regency Club has attached townhouses that come in one or two-level models. These units come in one of seven layouts, which offer between two and three bedrooms, with two to four bathrooms. Each household gets two parking slots, one inside the garage and one on the driveway. Some of the condominium fea...
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By inboundREM Market Updates
(InboundREM)
Livingston Square, Livingston, New JerseyReal Estate in Livingston SquareLivingston Square is a new condominium development in the southwestern part of the township of Livingston, New Jersey. Conveniently located next to several corporate headquarters, offices, and manufacturing companies, the subdivision provides an excellent home option for professionals working in them. Real estate in the neighborhood is primarily townhouses with beautiful 3-level designs. There are 30 buildings in the community ranging between three and eight units per structure. Each unit features a two-car parking garage and a small driveway. Upon entering the room, you'll find an L-shaped open floor layout which includes your living room, dining room, and kitchen. There is a backdoor patio for each home facing a ...
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By inboundREM Market Updates
(InboundREM)
Livingston, New JerseyReal Estate in LivingstonLivingston is a well-developed township occupying a large portion of the western part of Essex County, New Jersey. The town is a long-standing community that features a proper mix of commercial and residential areas. Real Estate in Livingston is comprised primarily of suburban single-family homes that come in a variety of three to five-bedroom models. These residences typically come with classic American architecture, spacious backyards, open floor layouts, and beautiful wood panel or brick exteriors. Home buyers can also choose from a good number of private subdivisions and golf communities in the area. There are excellent luxury neighborhoods in the city featuring exquisite custom-designed homes in exclusive communities.Check out our orig...
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By inboundREM Market Updates
(InboundREM)
Maplewood, New JerseyReal Estate in MaplewoodMaplewood is a lovely suburban township in the southwestern part of Essex County, New Jersey. The district is bordered by the South Mountain Reservation to the west and the South Orange Township to the north. Conveniently located along I-78, residents are an hour drive to Downtown Manhattan. The Maplewood Train Station situated in the center of town provides a convenient transportation hub that connects residents to most business and commercial centers in the district.Maplewood, like most suburban communities in the region, primarily offers a selection of suburban single-family homes to home buyers planning to buy a property in the area. These include a variety of home models that typically come in classic American architecture with beautiful...
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By inboundREM Market Updates
(InboundREM)
South Orange, New JerseyReal Estate in South OrangeSouth Orange or officially the Township of South Orange Village is a suburban community in the southwestern part of Essex County, New Jersey. The district is primarily a residential suburb with a small commercial area in its center. The convenient amenities in the village center makes South Orange an ideal home for home buyers who want to live close to everything they need. As the area is mostly residential, most professionals who reside in the township commute to other business centers in the region including New York City which is an hour away from the South Orange Train Station.If you are planning to buy a property in South Orange, you have a good selection of suburban single-family homes to choose from for a new home. These residenc...
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By inboundREM Market Updates
(InboundREM)
Millburn, New JerseyReal Estate in MillburnMillburn is a beautiful suburban township in the southwestern corner of Essex County, New Jersey. The town is bordered by Summit and Springfield to the south, Maplewood to the east, Livingston to the north, and the Chatham Township to the west. Millburn is known for its private golf communities, exclusive subdivisions, and wooded suburban neighborhoods. Most homes in the city are built alongside mature trees that provide a refreshing living environment where life is right next to nature. Business and commercial centers are within a reasonable distance to town, making the area quiet and especially great for families who value privacy. Residents are also an hour away from Downtown Manhattan, making homes in Millburn the excellent housing options ...
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By inboundREM Market Updates
(InboundREM)
Short Hills, Millburn, New JerseyReal Estate in Short HillsShort Hills is a beautiful residential neighborhood in the north-central part of the city of Millburn, New Jersey. The district is considered as an unincorporated community and census-designated place, and is one of the wealthiest areas in New Jersey. Short Hills is primarily residential with most residents commuting daily to work in New York City. Located close to I-78, the drive to Downtown Manhattan typically takes an hour while a train ride from the Short Hills Train Station takes about an hour and 12 minutes. Home buyers looking for a luxury bedroom community will love the Short Hills neighborhood.Short Hills is a wooded community with old mature trees lining the streets and surrounding the beautiful homes in the neighborho...
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By Matthew DeFede, Top Broker in Nutley New Jersey
(Realty Executives Elite Homes)
 Hey, good morning guys. Matt De Fede with Realty Executives Elite Homes. This is the Nutley Real Estate Report. If you could see the board behind me, basically what's going on right now is this, and I'm going to explain the opportunity here because a lot of people are worrying about the shift that you hear people talking about. It's not that bad. I'm going to tell you why in a minute.What we're looking at right now is a median listing price of about $440,000 in Nutley. That's the listed price, what the home is listed at, not what the home is sold at.What matters is what price the home is sold at. We're looking at $440,000 is the average list price when a home goes on the market in Nutley, and the average sold price is right now about $389,000. List price is $440,000, sold price is $389...
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