Madison NJ Real Estate Market Update

By
Real Estate Agent with Keller Williams Realty, North Central New Jersey

Madison NJ Real Estate Market Update                                  Search for Madison NJ homes for sale

Madison NJ is in the top 40 Places to Live according to NJ Monthly Magazine.  With 15,845 residents, Madison is a very desirable and popular with families and New York commuters who prize a good public school system and a friendly community.

In the last 12 months 127 homes have sold in Madison, compared to 159 in the prior 12 months.  That is 25% fewer sales than last year.  

There is more to this story, however.                                            View Madison NJ's demographic data

We have less inventory in Madison this year.  Last year at this time, there were 75 homes for sale, now only 56.  That's a corresponding drop of 25% in inventory of homes in Madison NJ.

Those who don't have to move, are not.  Less inventory, fewer sales.

  • 55 homes are for sale in Madison NJ from a low of $249,000 to high of $2,795,000 for a new home at 80 Noe Ave (2832923)
  • 15 Madison NJ homes are currently under contract
  • 127 homes sold in the last 12 months, from the low of $185,000 to a high of $2.5 million for a magnificent home at 241 Woodland Road 2834250
  • The average sales price for homes in Madison that have sold in the last 12 months is $678,697
  • The median sale price of homes in Madison NJ is $527,000
  • Number of days on market for Madison NJ homes is 92 days
  • The sale price to list price ratio for Madison NJ homes is 95.7% of list price
  • $87,000,000 is the total dollar volume of sales in the last 12 months

 Madison NJ BookshopMadison NJ streetscapeMadison NJ Home for sale

 

 

 

 

 


Interested in more information about Madison's homes for sale, neighborhoods and schools? Call or email me. If you'd like to search for Madison NJ area homes like an agent, go to my website and search the MLS at your convenience. 

Selling a Madison NJ home?
Contact me to find out about my Staging and Marketing Program or get a FREE Home Valuation here.

I am the local Madison, Chatham, Summit, Short Hills, Morristown NJ realtor.  I live and work here and look forward to sharing my local knowledge and expertise when you buy a home or sell a home in this wonderful part of New Jersey.

Madison NJ Real Estate Market Update

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Interested in more information and homes for sale, neighborhoods and schools in Summit, Short Hills, Chatham and Madison NJ? Call or email today. If you'd like to search for NJ homes like an agent, go to our website and search the MLS at your convenience. 

Selling a Summit, Short Hills, Chatham or Madison NJ home?   It's a great time to sell!
Contact us to find out about our Staging and Marketing Program or get a FREE Home Valuation here.

We are your local Madison, Chatham, Summit, Short Hills, Morristown NJ realtors.  We live and work here and look forward to sharing our local knowledge and expertise when you buy a home or sell a home in this wonderful part of New Jersey.

Feel free to subscribe to our blog to keep up to date with our latest posts and market updates.  If you like, you can sign up to receive updates via email directly in your inbox.

Let's connect on these social networks too:      Trish on FaceBookTrish on LinkedIn

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Location:
New Jersey Morris County Madison
Groups:
All About NJ Real Estate
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Keller Williams 'Rainers
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Rainmaker
814,125
J. Philip Faranda
Broker-Owner
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY

Now this is a market report! Numbers and commentary! I love it. 

September 13, 2011 11:06 PM
Rainmaker
139,079
Patrizia "Trish" Giassa
Keller Williams Realty, North Central New Jersey

I followed your advice Phil!  :-)

September 13, 2011 11:10 PM
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Rainmaker
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Patrizia "Trish" Giassa

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Additional Information

Chatham, Madison, Summit & Short Hills NJ Homes for Sale & Real Estate. Other news including what's happening in and around the area, new real estate listings, properties for sale, school news, and guidance on how to buy a house, prepare a home for sale, staging techniques, and much more. Visit http://www.WhereToLiveInNJ.com for FREE MLS search and email alerts of homes and condos for sale, school reports, demographics including age, income, education, household makeup, etc.