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Report SOMERSET COUNTY APRIL 2024 | ALL PROPERTY TYPES



Celeste Amann Direct: 908-229-4897Cell: 908-229-4897celeste.amann@cbmoves.com
celesteamann-newjersey.sites.cbmoxi.com





Area
Report Somerset County

FULL MARKET SUMMARY

April 2024 | All Property Types

Month to Date Year to Date April 2024 April 2023 % Change YTD 2024 YTD 2023 %
Change New Listings 429 369 16.26%  1289 1218 5.83%  Sold Listings 247 213
15.96%  770 810 -4.94%  Median List Price (Solds) $540,000 $525,000 2.86% 
$525,000 $475,000 10.53%  Median Sold Price $570,000 $540,000 5.56%  $541,812
$485,000 11.71%  Median Days on Market 15 15 0%  18 21 -14.29%  Average List
Price (Solds) $684,753 $635,876 7.69%  $654,790 $605,870 8.07%  Average Sold
Price $712,183 $652,094 9.21%  $672,414 $606,162 10.93%  Average Days on Market
32 27 18.52%  34 38 -10.53%  List/Sold Price Ratio 104.9% 103.1% 1.7%  103.7%
101.3% 2.34% 

SOLD AND NEW PROPERTIES (UNITS)

April 2024 | All Property Types

Sold Properties | Number of properties sold during the year
New Properties | Number of properties listed during the year.


MEDIAN SALES PRICE AND NUMBER OF SALES

April 2024 | All Property Types

Median Sales Price | Price of the ""middle"" property sold -an equal number of
sales were above and below this price.
Number of Sales | Number of properties sold. AVERAGE SALES PRICE AND AVERAGE
DAYS ON MARKET

April 2024 | All Property Types

Average Sales Price | Average sales price for all properties sold.
Average Days on Market | Average days on market for all properties sold.


SALES PRICE AS A PERCENTAGE OF ORIGINAL PRICE

April 2024 | All Property Types

Sale Price as a Percentage of Original Price | Average sale price of property as
percentage of final list price. AVERAGE SALES PRICE AND NUMBER OF PROPERTIES FOR
SALE

April 2024 | All Property Types

Average Sales Price | Average sales price for all properties sold.
Properties for Sale | Number of properties listed for sale at the end of month.


PROPERTIES FOR SALE AND SOLD PROPERTIES

April 2024 | All Property Types

Properties for Sale | Number of properties listed for sale at the end of month.
Sold Properties | Number of properties sold. AVERAGE ASKING/SOLD/UNSOLD PRICE

April 2024 | All Property Types

Asking Price | the average asking price of sold properties
Sold Price | the average selling price
Unsold Price | the average active list price


ABSORPTION RATE

April 2024 | All Property Types

Absorption Rate | Looks at the past year's monthly supply of inventory. In a
normal market there should be a 6 month supply. The higher the rate above 6 the
more aggressive a seller has to be with the competition; price and having a
picture perfect property. MONTHS SUPPLY OF INVENTORY

April 2024 | All Property Types

Months Supply of Inventory | Properties for sale divided by number of properties
sold.
Units Listed | Number of properties listed for sale at the end of month.
Units Sold | Number of properties sold.


The property information herein is derived from various sources that may
include, but not be limited to, county records and the Multiple Listing Service,
and it may include approximations. Although the information is believed to be
accurate, it is not warranted and you should not rely upon it without personal
verification. ©2024 Coldwell Banker. All Rights Reserved. Coldwell Banker and
the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The
Coldwell Banker® System is comprised of company owned offices which are owned by
a subsidiary of Anywhere Advisors LLC and franchised offices which are
independently owned and operated. The Coldwell Banker System fully supports the
principles of the Fair Housing Act and the Equal Opportunity Act.