Morristown NJ Real Estate - August 08 Review

The month of August 08 has come to a close with 23 homes listed for sale in Morristown NJ sold.  This is a small improvment, but it is a improvment and the signs continue to come in that the Morristown NJ real estate market has bottomed.

Home seller have gotten the hint over and over again and now we are seeing the median number of days to sell at 65 days.  There are still quite a number of homes on the market which have been sitting out there for 100 or more days.  Some of these homes I really in my own mind don't consider for sale anymore.  The home seller and the real estate agents who have them listed for sale are not even trying any more.  Why do I say that?  No price reductions after 100+ days on the market, knowing the market the way I do, I can just look at a home and know that a home is more than 8% over priced.  A home that is more then 8% over priced here in Northern New Jersey is very unlikely to draw even low-ball offers.

Homes are selling here in Morristown New Jersey, they just have to look good both in appearance and in price.

James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

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