Tuesday, May 19, 2009

Luxury Statistics Now Available at TheJillSmithTeam.com

Posted by The Jill Smith Team at 9:03 AM
Luxury sales statistics are now available at TheJillSmithTeam.com. These statistics cover the towns of Millburn-Short Hills, Summit and Chatham and are divided into two categories: houses originally listed between $1-$2 million and houses originally priced over $2 million.

Although dollar volume dropped dramatically for houses priced between $1-2 million in Chatham in 2008, average sale price was up 3% from 2007. Less houses sold but sellers who did not have to sell remained steadfast in their pricing even in a buyer's market. Average sales price in Millburn-Short Hills and dollar volume were both down in 2008 although sales for homes priced between $1-$2 million have historically fluctuated plus or minus 6-7% in the past 8 years. Millburn-Short Hills remains a top choice for luxury homes in the area and sales have always been strong. Summit's dollar volume in 2008 was well below that of 2007's totals, but prices in Summit's luxury market are even more consistent than Millburn-Short Hills, fluctuating no more than 2% annually since 2000.

For all the details please visit TheJillSmithTeam.com's Sales Statistics webpage for Luxury Statistics, Statistics by School District, Statistics by Town and Quarterly Under Contract Statistics.

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