There is great news on the Real Estate front! In fact, almost all of the news from the
first six months of 2010 is positive for Millburn/Short Hills homeowners and home
. Strong demand, prices moving upwards, and increased numbers of homes
closing, should help local homeowners feel confident about their real estate values
so far this year. Here are some of the highlights from January 1st-June 30th, 2010 as
compared to last year.
*10% Increase, on average, in Home Values as Compared to our Tax
Assessments. The average selling price versus the tax assessed price is up about
10% over what it was last year. This is an important number as both home buyers and
property appraisers look closely at those numbers when determining value.
*Increased Demand-More Homes are Selling. The number of homes sold during
the first six months of this year was up about 35% over last year.
*High End Home Sales Doubled. 18 homes over $2 million have sold during the
first six months of this year, versus only 9 homes during the same period last year.