Essex Fells Market Remains Stable
Data for the market in Essex Fells is portraying a relatively stable situation still with no meaningful movement in median sales prices over the past 24+ months.
As we’ve seen with many of the high end NJ markets, it gets progressively more difficult to sell any property as the price goes up, as seen in the listing data since 1/2013 in Essex Fells
A listing priced between $2 and 3 million results in a sale less than half as frequently as this occurs betwee, $1 and 2 million. Premier properties priced over $3 million (and worth it) do exist but the time to market is greater and the chances of accomplishing a sale within a standard 180 day listing cycle is low. Typically, multiple exposures are required.