2016 Starts Off With String of Positive Real Estate News
A number of important real estate statistics were released over the last several weeks, and the positive news kept rolling in. First, sales of existing homes in December were markedly improved from November, according to the National Association of Realtors (NAR). Total existing home sales rose 14.7 percent for the month, with all four major regions of the country seeing a large increase.
The sales figures were so impressive in December that they represent the largest monthly increase ever recorded by NAR. What’s more, now that the results are in for the full year, we see that 2015 was the best year for existing-home sales since 2006.
The news was also good when it came to sales of newly built homes, with the Commerce Department reporting that sales increased 10.8 percent in December. Not only did the sales figures exceed economists’ expectations, but they are yet another indication that the housing market is continuing to hold its ground.
Lastly, according to the December Pending Home Sales Index released by NAR, the number of homes under contract remained mostly unchanged nationally, but was up 6.1 percent in the Northeast. With the unseasonably warm winter so far, overall industry trends and what we are seeing at Weichert indicate an earlier-than-usual start to the spring market.
January Sales in Basking Ridge
1/5/2016 34 Spencer Road $350,000
1/6/2016 104 Liberty Corner Road $570,000
1/7/2016511 Lyons Road $265,000
1/8/2016 107 Childs Road $490,000
1/20/20161 Deer Ridge Road $1,089,108
1/22/2016 30 William Street $440,000
1/27/2016 49 N Brook Ave $487,500
1/28/2016 80 Cherry Lane 700,000
1/4/2016 202 Patriot Hill Drive $685,000
1/8/2016 16 Potomac Drive $270,000
1/13/2016 5 Carswell Court $500,000
1/14/2016 21 Roberts Circle $493,500
1/15/2016 44 Commonwealth Drive $290,000
1/19/2016 4 Hancock Court $590,000
1/19/2016 14 Prescott Court $475,000
1/21/2016 32 Spring Valley Blvd $233,000
1/22/2016 154 Woodward Lane $252,000
1/25/2016 124 Smithfield Court $285,000
