Watchung Borough Market Report,
for the 6 Months Ending February 28, 2010
Below is the home sales activity in Watchung Borough, September 1, 2009 through February 28, 2010. During this period,
* 27 properties sold in Watchung Borough, with 4 of these being sold this year.
* The average selling price of these homes was $662,502, an increase of $40,000 since last month's report.
* The sale price-to-list price ratio was 95%, which means that, on average, these 27 homes sold at 95% of their original list price.
* The sold homes were on the market an average of 121 days - about 4 months.
Source: GSMLS
What's Happening in the Watchung Borough Real Estate Market, Today?
The graphs below show what the Watchung Borough real estate market has been like, for the past 12 months. As you can see:
* After a recent period of increased selling prices, the median (middle) price of homes for sale in Watchung Borough is once gain decreasing.
* The median price per square foot is also declining.
* Inventory (the number of homes for sale) has been decreasing since the Fall. However, buyers can be assured that there are still many choices available for you.
* The number of days a home has been on the market had been increasing for most of the past 12 monhts, but now has turned around.
 
 
The market graphs are updated automatically, every week, so check back, often, to see what's happening!
If you would like to receive weekly, bi-weekly, or monthly updates about the Watchung Borough real estate market, just complete this simple sign-up form. I will send the market updates to your e-mail address, automatically.
FHA Loan Limits
In challenging economic times, people often wonder how they will get a mortgage. If you have saved just a small down payment, then an FHA-insured loan may of interest to you. The following widget displays the loan limits that the FHA will insure, for 5 different counties in this area. (Just click on the left and right arrows, at the top of the chart, to see the values for different counties.) As you can see, the loan limits are quite generous.
About Watchung Borough
For general information about Watchung Borough, Somerset County, NJ please visit
Borough of Watchung
To keep abreast of the news about Watchung, NJ, visit Watchung Borough's Topix news page.
History of Watchung Borough
This book in the Images of America series provides an illustrated view of the history of Watchung Borough:
Page, D.B. (2001). Images of America: Watchung. Charleston, SC: Arcadia Publishing.
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