Randolph Real Estate

Checkout this hard to find Shongum Lakefront property with great yard and meticulously updated throughout.  

As we head into the spring market, our 2017 has been one of the most active real estate markets in the past years as far as I can remember. With consistently low inventory and homes receiving contracts right away we are finally back into a sellers market. So far to date, we have not exceeded over 95 homes on the market when in the past we would have already seen 130-140 active homes at this time of the year. In any given 30 day period since January, we are seeing anywhere from 25-35 homes Under Contract.

The reason this is so important is because these numbers provide us with our towns absorption rate. An absorption rate simply put is the months it would take for current inventory to be absorbed based on the following equation, the number of active homes on the market divided by how many homes have gone under contract in the past 30 days. For example, as of today March 5th there are currently 95 homes on the market and in addition 27 homes went under contract in the past 30 days which gives a 3.5 month supply. Anywhere from 0-6 months is considered a sellers market, from 6 months plus is a buyers market and 5-6 months is a normal market where we saw ourselves in most of 2016.

So what does this mean for sellers? Your home still needs to be priced according to condition but with fewer homes as competition we are seeing more multiple offer situations.

For a complete list of homes that sold in Randolph & Shongum Lake, please visit Randolp-NJ-Homes.com for the most updated home sale information.

As your neighborhood resource, my real estate blogs are filled with advice and weekly triumphs and troubles that the road of real estate leads us through. Let me be your guide, I can provide you with the local market expertise and knowledge to give you the best advantage in today’s market.

 

 Randolph & Shongum Lake Real Estate

 

Are you looking for a home filled with charm that is HGTV ready and located in the sought after town of Randolph, well look no further. This home checks off all the must haves on your list and then some with a brand new roof! Priced at $415,000, you will not find another home like this. Call me for more details today.

Then look no further! This Shongum Lake colonial with 4 beds plus 1st floor office, finished basement, large, flat, fenced in property and all the fun and events that this lovely community has to offer. Join me for an Open House today from 12-3pm. 

 

This home, The McGrath/Lorey house, built in the early 1700’s and with the same family until now, is filled with so much history plus wonderful and interesting stories such as the femme fatale that once lived there during prohibition.

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