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Sales grew 12% over the 12 months ending 6/30/2011. The most active price point range was $380,000-$410,000, and West Caldwell’s higher price points showed signs of life. The distribution of active listings by price point conforms to recent sales, which is good news for sellers. Prices, on the other hand, were a mixed bag. Of the 5 measured percentiles, 3 lost ground, 1 was even and 1 posted a modest gain of 3%. The good news is that the gain came in the 80th percentile, which suggests that higher-end buyers might be coming back to the market.
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During the past 12 months there were 172 total listings on the market with 49% selling or going under contract. The strongest sellers’ price point was $500,000-$530,000, where 75% of the sold homes went under contract in 60 or fewer days and 25% sold for original list price or more.
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