1. Overview of Adult Communities in Jackson, NJ-4-21-2012

    April 21, 2012 by Paul Twardy

    Throughout Jackson Township there are a number of adult communities. They range from the mobile home developments of Oak Tree, Jackson Acres/Jackson Estates, Fountainhead Park and Maple Glen. Then there is the cooperative complex of Meadowbrook Village. Other homes are found in Winding Ways, Westlake, Four Seasons @ South Knolls and Four Seasons @ Metedeconk Lakes. Overall, the average price of a unit comes to $275,470 with the lowest priced unit closing at $5,000 for a mobile home in Oak Tree, while the most expensive unit closed at $496,200 during the period from April 21, 2011 through April 21, 2012.

    To put matters in a better perspective, I classified the homes into three categories: mobile homes, condos/co-ops and single family units.

    Looking at only the mobile home units that closed in the aforementioned time period, we see that the average price is approximately $26,000 with a low of approximately $5,000 and the highest unit approximately $30,000.

    Now, looking at the condos/co-ops, we see an average of approximately $58,000 with the approximate low being $47,500 and the approximate highest priced at $70,000.

    For the single family units in Winding Ways, Westlake, Four Seasons @ South Knolls and Four Seasons @ Metedeconk Lakes, there is an approximate average closing price of $310,000 with the lowest unit, a two bedroom in Winding Ways, closing at $165,000 and the the approximate highest closing at $496,200, a four bedroom in Four Seasons @ Metedeconk Lakes.

    Please Note: All of the above averages are approximate and taken from closed listings during the period of April 21, 2011 through April 21, 2012.

    Category Adult Community, Housing Market Conditions, Jackson, NJ, Local Market Conditions | Tags: , , , , , , , | No Comments

  2. Report concerning rentals in Jackson, NJ – 4/10/2012

    April 13, 2012 by Paul Twardy

    After posting an article looking at Condo sales within the above area I figured an article dealing with rentals should also be looked at. Although from what I have heard it is normally at least the same if not more to rent rather than own there may be compelling reasons to rent. However the intent of this post is to simply to present basic economic figures.

    While the data for this article does not present all rentals but only what came through the Monmouth/Ocean MLS, about 100 units of varying size it should give a basic idea of the cost of finding a place to rent in Jackson, NJ. Statistically speaking were looking at an average price to rent per year of $15,654 or about$1304 per month. This amounted to an average of $1.20 per sq foot with the low as of this date being $950.00

    Now when we look at size just for a  single bedroom rental our lowest priced unit comes to $950.00 with $1250.00 being our high. The $950.00 unit was for a one floor condo unit at concord village. Our most expensive single bedroom model cost $1,250.00 at  60 acres. Looking at 2 bedroom the low was $1050.00 while the high was $1850.00 . This was for a townhouse styled condo. Than of course most of our rentals exceeding 2 bedrooms are single family homes. While we often go over the $2,000.00 mark, I ran one rental off at $1400.00 and another with four bedrooms at $1700 in Jackson’s brookwood area.

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  3. Condo Sales throughout Jackson, NJ – 4/10/2012

    April 12, 2012 by Paul Twardy

    The following post concerns condo sales throughout Jackson, NJ. Basically its a statistical summary of closed sales in the condo developments of 60 acres, mews@cooksbridge, three Pence Brook and Crystal Brook. Looking at sales overall I found that the average selling price of a condo was $171,000 with the lowest sale being $97,000 while the highest being $312,000. The resulting Average per square foot came to approximately $140.00.

    But of course the price varied greatly when factors such as size, location and age were  taken into consideration. Than of course whether it was a bank or distressed sale were again pertinent factors. Basically our lower priced units were located in 60 acres while the most expensive units were in Mews@cookbridge. And since the two developments accounted for the  bulk of our sales I look predominantly at these.

    The homes in 60 acres, a predominantly wooded area, were generally built in the late 1980′s. While it included the lowest price unit at 97,000 it was also a distressed sale and was a 2  bedroom unit on a single level. Altogether the homes at 60 acres sold for an average of $136,083, and the highest priced, a townhouse with a 3 bedroom loft  at 179,000.

    Mews@cooksbridge was our other extreme. Here the homes were built in the mid 2000′s. While the average selling price was $246,844 the lowest was a short sale at $199,000. It was here that we found  the highest at $312,500. The remaining condo sales since 4/10/2011 were from three Pence Brook and Crystal Brook.

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  4. Jackson, NJ-Brookwood section Housing price update as of 3/10/2012

    March 10, 2012 by Paul Twardy

    According to the most recent statistics I ran off as well as the cumulative closing prices of homes in the Brookwood area of Jackson, NJ during the past year the average price homes sold for in this area was $227 thousand. This figure was based on only 15 properties with eleven being splitlevels. So I broke this down further. The splitlevels average selling price came to $210 thousand while that of 4 bi-levels was$245,500. Only 1 ranch in Brookwood sold during that time, a ranch with 1600 square feet for $269,000.

    Even when all of Jackson, NJ was taken into consideration the median estimated home value stood at $319,000. A negative estimated home value change of over 8% during the preceeding year. While the market may appear to have leveled off this from what I hear is only a tempoary condition.  Unfotunately, banks plan on releasing a number of foreclosures later in the year, further hurting the housing market.

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  5. Dislaimer

    March 10, 2012 by Paul Twardy

    Both Paul J. Twardy as well as Kathleen Twardy are NJ licensed REALTORS®.  In NJ all commission rates are negotiatible.  It is not the intent of this blog to solicit currently listed properties.

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  6. Real Estate Blog

    February 19, 2012 by Paul Twardy

    The authors purpose is to publish  real estate related articles which hopefully may be of interest to readers of this blog.  I will post housing market updates, Community related posts, and just general real estate related posts. Often they will be further subdivided into exact counties or towns. But all categories that are active will be listed on a sub menu to the right. Just click on the appropriate category to be taken to these. Also I will post all open houses I am doing on the page open houses. Feel free to comment on all articles although I will review all posts to approve or disapprove.

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