Rutherford Market Statistics

I am going to periodically show Rutherford 1 family Sold stats here. These are the stats for the past few months in this order: Number of Solds, Average Sold Price, Average days on market, average percent of sold price to listing price

January 2007 10 $481,650 147 84%
December 2006 10 $467,850 110 90%
November 2006 9 $447,778 91 92%


So, at least in the short term, it looks like sold prices are starting to rise after months of decline. This short time period might not indicate a trend. We will see, but there seems to be some indication that the worst is over.

But this does not mean that sellers can again start asking whatever they want. The homes that are selling are the houses that are price right and those taht are reduced to the right price. Please note that the sold price to list price ratio that I show is the percent of the sold price to the original list price and you can see that that percentage has decreased, which means that the difference between the original list price and the final sales price is now 16% which at $500,000 is $80,000. That is why the average days on market for January solds was 147 days.