MARKET PRICING DETAILS FOR Single Family Homes FROM May 2010 – Apr 2012

	Total	Most Recent	Highest	Lowest	Average
Sold Homes	13855	04/30/2012	$7,875,000	$15,000	$507,957
For Sale	30854	04/30/2012	$24,999,000	$1,700	$613,197

Portions Copyright © 2012 by the [Garden State MLS, All Rights Reserved.)

The Asking and Sold Prices graph depicts the average asking and selling price and the high/low price of homes for sale in Area 1 for the last 2 years. One way to understand where the market is heading is by examing whether home sellers are getting close to their asking price, or if they had to come down a bit to get the home sold.
The average asking price in April is close to the same as March, and up 1% over six months ago. Looking back at the last 2 years, the average asking price is up 8% over one year ago and up 12% over two years ago.
Prices are generally the same as they have been for the last 2 years. What does this mean to you?…
When asking prices stay the same it means the market could be a stable market.  A Seller’s market means it is easier to sell your home for the price you ask, and harder to get the home you want to buy. A buyer’s market means it is more difficult to sell your home for the price you ask but easier to get a good price on the home you buy.       

Keys for Buying and Selling when the Market is slow

It’s a whole new world for home sellers. So, how do you make your house stand out so it will sell when sales are slow? Curb appeal. After pricing, nothing will bring more potential buyers into your home than a house with outstanding curb appeal. Take a walk down your street with a critical eye. How does your home stack up from the outside? If it doesn’t stand out from the rest then it’s time to get to work. Consider home staging. The quickest way to add value to a home for sale is a fresh coat of paint. After that, you may want to consider home staging-either do it yourself or hire an outside firm. A home staging professional will come in and take away some furnishings and rearrange others to make your home show better and to make it home more appealing to prospective buyers.

Home Improvements and Which Ones to Do

 Whether you plan to sell in the near future, or just want to improve the value of your home, here is one low cost improvement you should consider. Replace laminate kitchen countertops. This is a more expensive project than just painting, but it can dramatically improve the look of your kitchen-for less than 15 percent of the cost of gutting your kitchen and starting over. The laminates of today are available in all kind of colors and patterns, some of which resemble much more expensive solid surface materials, such as stone or tile. Another benefit-replacing your laminate kitchen counters can be a one-day job, rather than the 8-12 weeks of disruption you can expect with a complete kitchen remodel.