Westfield, NJ Real Estate News

By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
Westfield, NJ Real Estate Update There are currently 195 single family homes  on the market for sale. These numbers have stayed stable in the past month. Last month, there were about 203 listings for sale at this time. Inventory levels in general are higher than in prior months, giving buyers more options when selecting a home.Although prices in general have trended slightly lower or flatlined, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Westfield NJ has an excellent school system, an expansive downtown shopping and dining area, and a train line to Newark, with transfer service to Manhattan.Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expe...
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By Jane Nicastro-Disch Warren NJ, NJ Estates Real Estate Group of Weichert Realtors
(Weichert Realtors)
         Westfield, NJWestfield is an attractive suburban community located about 25 miles southwest of New York City. It offers a small town environment with many diverse historical, cultural, recreational, educational, and social activities. Westfield has a rich Colonial history, and is noted for its beautiful downtown area, excellent school system and its convienient commute to New York City and the shore. It offers all the classic features of small town life: friendly tree-lined streets with single family colonial and Victorian homes, a New England style village green, and an old-fashioned General Information Incorporated:Population:Area:County:Websites:Worship 179428,8706.29 Sq. Mi.Unionhttp://www.westfieldnj.com/http://www.unioncountynj.org/PlacesSchool Report Cards Westfield Scho...
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By William Collins, Property and Asset Management
(ERA Queen City Realty)
Westfield has very few multifamily properties, so it stands to reason that there are few available for sale. However, what Westfield lacks in numbers it more than makes up for in character and charm. the multifamily homes afford their owners the same rich architectural detail enjoyed by owners of single family residences. There were seven properties available for sale in March, with an average list price of $679,114. That's slightly higher than 2006 by about 6.2%. The average days on market were roughly 71, just over half of 2006 for the same period. Interestingly enough, there were 3 new listings with an average sales price of $644,933. No multifamily properties went under contract in March. Neither 2006 or 2007 had closed sales in March.  
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By William Collins, Property and Asset Management
(ERA Queen City Realty)
This township is one of the most desirable residential communities in central New Jersey.There were 249 residential properties for sale in March 2007 with an average price of $1,122,512.During the month 60new listings were introduced to the market with an average list price of $1,099,208. This same period 30 residential properties went under contract. The average list price of the properties with offers was $941,303 .The residential properties which actually sold and closed title in March, sold for an average sales price of $867,408 and there were only 29 of them, with an average of 81 days on the market.Homes are still selling. However, the market shows two to three months before the closing takes place. This is all the more reason to make sure that your property is prepared to be mark...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
Westfield, NJ Real Estate Update There are currently 203 single family homes  on the market for sale. These numbers have stayed stable in the past month. Last month, there were about 201 listings for sale at this time. Inventory levels in general are higher than in prior months, giving buyers more options when selecting a home.Although prices in general have trended slightly lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Westfield NJ has an excellent school system, an expansive downtown shopping and dining area, and a train line to Newark, with transfer service to Manhattan.Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on ma...
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By William Collins, Property and Asset Management
(ERA Queen City Realty)
The township of Westfield was formed in 1794. The first railroad line through Westfield was established in 1838. The first newspaper "The Townsman" followed in 1875 and by 1895 electric, telephone, water and sewer services were available.Fast forward to January 2007 and this township is one of the most desirable residential communities in central New Jersey.There were 248 residential properties for sale in February 2007 with an average price of $1,082,295.During the month 63new listings were introduced to the market with an average list price of $1,052,198. This same period 41 residential properties went under contract. The average list price of the properties with offers was $896,280.The residential properties which actually sold and closed title in February, sold for an average sales ...
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By William Collins, Property and Asset Management
(ERA Queen City Realty)
Westfield has very few multifamily properties, so it stands to reason that there are few available for sale. However, what Westfield lacks in numbers it more than makes up for in character and charm. the multifamily homes afford their owners the same rich architectural detail enjoyed by owners of single family residences. There were no properties available for sale in February There were no sales as well.. 
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By Denise Broesler
(RE/MAX Properties Unlimited)
Walk along the downtown area in Westfield NJ and you'll feel like you've stepped into a totally trendy place. There's Starbucks, Gap, and my favorite, Cold Stone Creamery, to mark some of the highlights of the town. Westfield is west of Garwood, east of Fanwood, and along Central Avenue one can take a short ride into Clark and areas west. Westfield's homes are traditional - when I think of the style I picture a family sitting down having Thanksgiving dinner - and the beautiful homes and quiet streets bring back images of how Westfield was back 60 or 70 years ago. Drinking lemonade, smelling cookies, while sitting and rocking on a porch swing. That's what I think of looking at those homes that seem like mansions to some.
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By Denise Broesler
(RE/MAX Properties Unlimited)
Do you wi-fi?  For locations, go to http://wi-fi-nj.com/.If you know of anyone not on the list, please let me know.
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By Denise Broesler
(RE/MAX Properties Unlimited)
Today was a busy day for me!  I first went to meet Governor Christie Todd Whitman at a Wells Fargo reception in Springfield.  I was with Julie Keane and Adam Dubeck, Esq.  Then I went to my office in Summit and to Westfield to go to Cold Stone Creamery, the best ice cream in town!!!!  Of course I stopped in Pinera Bread for some coffee.  Getting ready now for a listing appointment in Westfield tomorrow.  Wish me luck!  All my best, Denise Broesler, RE/MAX Achievers.
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
There are currently 201 single family homes  on the market for sale. These numbers have risen slightly in the past month as the spring market has picked up. Last month, there were about 195 listings for sale at this time. Inventory levels are higher than before, giving buyers more options when selecting a home.Although prices in general have trended slightly lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Westfield NJ has an excellent school system, an expansive downtown shopping and dining area, and a train line to Newark, with transfer service to Manhattan.Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for ...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
There are currently 196 single family homes and 2 multi family homes on the market for sale. These numbers have risen in the past month as the spring market has picked up. Last month, there were about 175 listings for sale at this time. Inventory levels are higher than before, giving buyers more options when selecting a home.Although prices in general have trended slightly lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.There were 30 properties that closed in March in Westfield, the average selling price was $891,675 and the ave...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
There are currently 185 single family homes and 3 multi family homes on the market for sale. These numbers have risen substantially in the past month as the spring market has picked up. Last month, there were about 155 listings for sale at this time. Inventory levels are much higher than before, giving buyers more options when selecting a home.Although prices and demand in general have trended lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. However, with so many new listings, I expect days on market to rise for homes that are priced too high.There were 26 properties that closed in March in Westfield, the average selling price was...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
As the spring market arrives, the number of homes for Sale in Westfield, NJ has risen to 176 single family homes. Much like in neighboring towns such as Cranford and Scotch Plains, the amount of inventory has gradually risen week by week, as sellers are wanting to capitalize on the warmer weather ahead to bring in those buyers. The price trend will be determined by how many of those buyers absorb this inventory compared to the pace of new listings.Prepared by Sean Carroll - RealtorRE/MAX Classic GroupServiving Cranford, Westfield, Berkeley Heights NJ and surrounding townshttp://www.WestfieldPropertiesOnline.com
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By William Collins, Property and Asset Management
(ERA Queen City Realty)
Westfield has very few multifamily properties, so it stands to reason that there are few available for sale. However, what Westfield lacks in numbers it more than makes up for in character and charm. the multifamily homes afford their owners the same rich architectural detail enjoyed by owners of single family residences. There were seven properties available for sale in January, with an average list price of $679,114. That's slightly higher than 2006 by about 6.2%. The average days on market were roughly 71, just over half of 2006 for the same period. Interestingly enough, there were 3 new listings with an average sales price of $644,933. No multifamily properties went under contract in January. Neither 2006 or 2007 had closed sales in January. 
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By William Collins, Property and Asset Management
(ERA Queen City Realty)
The township of Westfield was formed in 1794. The first railroad line through Westfield was established in 1838. The first newspaper "The Townsman" followed in 1875 and by 1895 electric, telephone, water and sewer services were available.Fast forward to January 2007 and this township is one of the most desirable residential communities in central New Jersey.There were 251 residential properties for sale in January 2007 with an average price of $1,084,404, most of which had lingered on the market just over three months.During the month 78 new listings were introduced to the market with an average list price of $1,054,401. This same period 37 residential properties went under contract. The average list price of the properties with offers was $933,259.The residential properties which actua...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
There are currently 175 single family homes and 5 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Inventory levels are much higher than before, giving buyers more options when selecting a home.Although prices and demand in general have trended lower, Westfield still remains an appealing option for many buyers, which has enabled homes to sell quickly if they are priced properly. Multiple offers are still a possiblity for competetively priced homes. I expect this price softening trend to continue for the next several months, with buyers willing to pay a fair price for homes, and disregarding homes that are priced considerably above market value.There were 18 properties that clo...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
For the 12 month period ending February 28, 2007 as compared to the 12 month period ending August 2006, there are some clear signs that the real estate market in Westfield, NJ has stabilized considerably. Prices and Inventory have leveled off, as the spring market approaches. Days on market has remained stable, as have the number of listings and list price to sales price ratio.Average Days On Market:12 mos Ending 8/2006: 5212 Mos. Ending 2/2007: 57List Price to Sales Price Ratio:8/2006: 98%2/2007: 97%Total Listings Activated in MLS8/2006: 36032/2007: 3726These figures definitely support a more balanced and normalized real estate market, over the past several months, the amount of buyers and sellers has remained relatively equal. In the coming months, the inventory should rise, and depen...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
The real estate market in Westfield, NJ has adjusted in a similar fashion to surrounding towns, with prices easing off historic highs at a rate of about 6-9% from one year ago. Recently though, homes have sold at a faster rate - especially in December. This decline in inventory has made sales more brisk, and the next few months will be critical for the price trend. If inventory remains constant, the prices should remain stable. If inventory rises to mid- 2006 levels again, we can expect the gradual pricing declines to occur.There are currently 179 single family homes and 7 multi family homes on the market for sale. These numbers have stayed relatively stable over the past few months, with an equal number of sales and new listings. Although prices and demand in general have trended lower...
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By Sean Carroll, Real Estate Speaker and "Expert" Coach
(The Get Off Your A$$ Academy)
For the 12 month period ending January 31, 2007 as compared to the 12 month period ending July 2006, there are some clear signs that the real estate market in Westfield, NJ has continued to correct from record price appreciation, and a polarized seller's market to a moderate buyer's market and flat prices to slight price decline.Average Days On Market:12 mos Ending 7/2006: 6112 Mos. Ending 1/2007:  53List Price to Sales Price Ratio:7/2006: 98%1/2007: 97%Total Listings Activated in MLS7/2006: 23891/2007: 2727Prepared By:Sean Carroll - RealtorRE/MAX Classic GroupServing Cranford, Westfield, Garwood, Berkeley Heights, and surrounding towns
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