Archive for the ‘Uncategorized’ Category

According to the National Association of Realtors, the Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent from January. The index remains 17.3 percent higher than it was in February 2009.

“The rise in buyer contract activity may signal the early stages of a second surge of home sales this spring,” said Lawrence Yun, NAR chief economist. “Anecdotally, we’re hearing about a rise of activity in recent weeks with ongoing reports of multiple offers in more markets, so the March data could demonstrate additional improvement from buyers responding to the tax credit.”

 Here in Bernardsville, there have been two contract sales since April 1st, and eight new listings (price range $529,000 to $2,100,000).  Three properties have closed so far this month:

25-9 Franklin Court – a townhouse listed for $355,000 that sold for $350,000

11 Pine Street – a ranch listed for $420,000 that sold for $410,000

24 Lloyd Road – a colonial listed for $1,750,000 that sold for $1,625,000

Do you have questions about today’s real estate market?  Email me now to reserve a seat at our upcoming “Real Estate Market Update” Seminar on Saturday, April 10th at 11am. We will have an attorney, a mortgage rep and my broker on hand to answer questions about the market, the process and the tax credit.