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Average Residential Home Sales in Metuchen Declined 5.0% in the First Four Months of 2017Residential home sales in Metuchen have begun the year with a bit of a thud. In the first four months of 2017, the average sale price for a single family home was $471,397 - down 5.0% compared to the same time period last year. According to figures from the Central Jersey Multiple Listing Service, thirty-two homes sold from January to March 2017 - the same number of closings as in 2017. But Metuchen is not seeing the sales increases elsewhere in the area. The Woodwild Park horse trough was restored this year thanks to community contributions.
METUCHEN - The Woodwild Park horse trough, a landmark in the borough for more than a century, has gotten a much needed makeover. "I love Metuchen and I love history," said resident Richard Miller, treasurer of the Woodwild Park Association, who spearheaded a fundraiser to restore the antique trough. "I love preservation and this is part of the borough's rich history." While the average sales price may be down, the market for House Flips stays strong in MetuchenThe average first quarter residential home sale in Metuchen slipped over 10%, but that didn't stop the market for flipped homes to keep on moving up and up and up. The average "flipped" house in Metuchen sold for 41.3% more in 2017 than the average sale from the first three months of the year.. A total of 17 homes were identified as "flipped" in a review of residential sale records from 2014 through today. The study of over 460 sales from the Central Jersey MLS included first sales ranging from $190,000 to $415,000, After renovations or new construction following demolition, the resale of these properties ranged from $318,000 to $894,000. Put another way, the average "first" sale was for $275,882 compared to the "second" sale average price of $650,512. Sample of Flipped Homes - Before & After |
Homes For Sale in MetuchenVisit Us OnlineMetuchen, NJNestled in the middle of Middlesex County, NJ, and at the crossroads of major highways and trains, Metuchen is a family-first town with great schools and a growing downtown. Archives
September 2017
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