Houses Sold at Asking Price or Above in Middlesex County, New Jersey
It happens that houses sometimes sell at the asking price but most of the time they do sell below or above the asking price. The real estate market is a free market and house prices are negotiated based on multi variables ending up with a sold price that is most likely to be different from the original or last asking price.
Knowing how many houses within a specific area sold at asking price or above can be very useful for home buyers and home sellers. It also provides real estate professionals with a better understanding of current and local real estate market conditions. The following table provides the percentage of houses sold at asking price or above for most cities in Middlesex County NJ for the year 2011.
When setting an asking price with our clients, we also analyze the last 6 months - 2 years time frame as to better understand short term trends and likely effect on an original asking price. Usually this exercise also needs to be done at a more granular level such at a neighborhood level. The Houses Sold at Asking Price or Above Ratio is only one real estate statistic among others needed to better understand a current specific neighborhood trend. To help home buyers and home sellers make sound business decisions, those statistics should be targeted to the neighborhood of interest along with a current Comparative Market Analysis (CMA).
Houses Sold at Asking Price or Above by City in 2012*
|Sold Homes||Sold above asking Price|