union real estate market report - july 2014
TRANSCRIPT
How’s the Real Estate Market in Union?
July, 2014
If you're planning on buying or selling a home
in Union, the first step is to learn about the Union real estate
market conditions.
Inventory
There are currently 324 homes offered for sale in Union and they range in price from $65,000 to $1,295,000. Ja
n-12
Feb-12
Mar-12
Apr-12
May-
12
Jun-12
Jul-
12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-
13
Jun-13
Jul-
13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-
14
Jun-14
Jul-
14
Active Listings 38 39 41 43 47 46 45 43 42 40 35 31 33 32 33 34 35 33 35 36 35 34 32 19 30 30 33 35 35 35 36
U Sold Listings 15 22 27 22 37 43 44 39 39 29 27 32 30 24 18 38 44 41 43 42 35 43 34 35 35 26 33 32 41 42 43
0
50
100
150
200
250
300
350
400
450
500
Ho
me
s
Active and Sold Listings - Union, NJ
Jan-12
Feb-12
Mar-12
Apr-12
May-
12
Jun-12
Jul-
12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-
13
Jun-13
Jul-
13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-
14
Jun-14
Jul-
14
Active Listings 38 39 41 43 47 46 45 43 42 40 35 31 33 32 33 34 35 33 35 36 35 34 32 19 30 30 33 35 35 35 36
U Sold Listings 15 22 27 22 37 43 44 39 39 29 27 32 30 24 18 38 44 41 43 42 35 43 34 35 35 26 33 32 41 42 43
0
50
100
150
200
250
300
350
400
450
500
Ho
me
s
Active and Sold Listings - Union, NJ
Inventory
12 month avg= 330
July 2014 = 362
July 2013 = 358
July 2012 = 459
July ‘12
July ‘13 July ‘14
12 month avg
Jan-12
Feb-12
Mar-12
Apr-12
May-
12
Jun-12
Jul-
12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-
13
Jun-13
Jul-
13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-
14
Jun-14
Jul-
14
Active Listings 38 39 41 43 47 46 45 43 42 40 35 31 33 32 33 34 35 33 35 36 35 34 32 19 30 30 33 35 35 35 36
U Sold Listings 15 22 27 22 37 43 44 39 39 29 27 32 30 24 18 38 44 41 43 42 35 43 34 35 35 26 33 32 41 42 43
0
50
100
150
200
250
300
350
400
450
500
Ho
me
s
Active and Sold Listings - Union, NJ
Inventory
12 month avg= 330
July 2014 = 362
July 2013 = 358
July 2012 = 459
July ‘12
July ‘13 July ‘14
12 month avg
Inventory is relatively stable compared to last year.
Prices
The average selling price of a home in Union in July was $272,244.
0
50000
100000
150000
200000
250000
300000
350000
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Sale Price and List Price - Union, NJ
0
50000
100000
150000
200000
250000
300000
350000
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Sale Price and List Price - Union, NJ
Prices
12 month avg = $249,342
July 2014 = $ 272,244
July 2013 = $265,957
July 2012 = $251,576
July ‘12July ‘13 July ‘14
0
50000
100000
150000
200000
250000
300000
350000
Jan
-12
Feb
-12
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Sale Price and List Price - Union, NJ
Prices
12 month avg = $249,342
July 2014 = $ 272,244
July 2013 = $265,957
July 2012 = $251,576
July ‘12July ‘13 July ‘14
Prices have increased about 8% over 2 years.
Days on Market
The average sold home in Union in July was sold after 79 days.
0
20
40
60
80
100
120
140
160
180
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Days on Market - Union
0
20
40
60
80
100
120
140
160
180
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Days on Market - Union
Days on Market
12 month avg = 109
July 2014 = 79
July 2013 = 85
July 2012 = 77
July ‘12July ‘13
July ‘14
0
20
40
60
80
100
120
140
160
180
Mar
-12
Ap
r-1
2
May
-12
Jun
-12
Jul-
12
Au
g-1
2
Sep
-12
Oct
-12
No
v-1
2
De
c-1
2
Jan
-13
Feb
-13
Mar
-13
Ap
r-1
3
May
-13
Jun
-13
Jul-
13
Au
g-1
3
Sep
-13
Oct
-13
No
v-1
3
De
c-1
3
Jan
-14
Feb
-14
Mar
-14
Ap
r-1
4
May
-14
Jun
-14
Jul-
14
Average Days on Market - Union
Days on Market
12 month avg = 109
July 2014 = 79
July 2013 = 85
July 2012 = 77
July ‘12July ‘13
July ‘14
Homes typically sell faster in the summer, and Union is no exception.
What does this mean to you?Because of the lower inventory, we should see
prices continue to rise.
If you’re planning to BUY a home, there is a wide variety of homes available in a wide price range!
If you’re planning to SELL a home, you need to make sure your home is in top showing condition and that it’s priced right so that it stands up to the competition!
