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2014 Home Sale Statistics

MAPLEWOOD 2014 HOUSING OVERVIEWIn 2014 Maplewood homes took an average of 44 days to sell which is just slightly better than the Mid-Town Direct train line town average of 46. 297 homes sold in Maplewood, with an average price point of $521,086 which is far below the Mid-Town Direct train line town average. That being said, the average list to sale price ratio of 101% is stronger than any other market review for this report. Maplewood tends to attract a wide variety of buyers, especially from Brooklyn, Hoboken, and Jersey City, who are looking for a great commute, lifestyle,diversity, and value. Expect another busy year for Maplewood, with homes selling quickly and for top dollar asMaplewood becomes more and more popular.

in order to provide the most accurate statistics for the segments below, we have compiled the data for each property soldgoing back to listing date of 1/1/2013. This allows us to identify the actual original list price and true days on market whichdiffers from the market overview because the mls does not account for relisted properties. The following are our results:

UNDER $350,000TransacTions: 71  average cumulaTive Days on markeT: 90original lisT To sale Price: 93.3%The under $350,000 market segment was slower moving than the rest of theMaplewood Market. This market segment represented 24% of the total market. One reason for the slower market and lower original list to sale price ratio is the factthat several of the transactions in this price range are for condos and townhomes. The condo and townhome market has not seen as large of a bounce back as the single family home. Looking at these statistics, one could conclude that this pricebracket is more of a buyers market. We would suggest that is due to the high volume of condos and townhomes in this price range, which take longer to sell than singlefamily homes in the same range. The statistics for this market segment are in line with other neighboring towns.

$350,000 TO $650,000TransacTions: 151  average cumulaTive Days on markeT: 45original lisT To sale Price: 99.0%The $350,000 to $650,000 market represented 51% of the market in Maplewood. This segment was very well performing, with an average of 45 days on market and a99% original list to sale price ratio. This shows a clear Seller's market where buyerswere anxious to purchase property. We expect to see this trend continue in 2015, as this price bracket is seen as a value in Maplewood when compared to othercommunities.

$650,000 TO $1,000,000TransacTions: 69  average cumulaTive Days on markeT: 36original lisT To sale Price: 99.9%The $650,000 to $1,000,000 market represented 23% of the Maplewood market in 2014. This market segment was the best performing in Maplewood this year. With thelowest days on market and the highest list to sale price ratio, this is the sweet spot forMaplewood real estate. This does not come as a surprise, as most of the Maplewoodbuyers we worked with in 2014 were looking for a home in this price range.

$1,000,000 & UPTransacTions: 5  average cumulaTive Days on markeT: 43original lisT To sale Price: 99.5%The $1,000,000 and up market represented only 2% of the total Maplewood market.This upper bracket price range shows better stats than the neighboring towns. Thehigh-end market in 2014 was very seasonal – school year driven. Most sales closed by August. Overall it was a fast moving price range with an average days on market of 43, and many of the homes were only listed once which helped create a very high original list to sale price ratio. While this is not a high volume price bracket in Maplewood, 2015 stands to be a great year again.

Sue Adler 2014 Summary Maplewood 2/27/15 3:10 PM Page 1