Tuesday, April 25, 2006

At A Glance: Edison, NJ

Listings As of 4/25
Total Active Listings: 111
Up To $500,000: 64
$500,001 - $1,000,000: 39
$1,000,001 And Up: 8

Listing Activity Since 4/1
32 Added
4 Back on Market
21 Price Reductions
9 Under Contract
12 Sold
5 Expired
3 Withdrawn
0 Temporarily Withdrawn

March Sales Activity
Up To $500,000: 9
$500,001 - $1,000,000: 3
$1,000,001 And Up: 0
Sales Prices were on average 6.2% below Original List Prices
(Activity data from GSMLS)

19 Comments:

Anonymous Anonymous said...

It is only minutes from NYC...50 minutes (if you drive fast on a Sunday at 3am)

4/25/2006 02:42:00 PM  
Anonymous Anonymous said...

oh and

"value mostly in land"

4/25/2006 02:43:00 PM  
Anonymous Anonymous said...

Inventory way way way up and FSBO signs all over.

Ba ba ba ba ba ba ba ba BOYCOTT HOUSES!
6-12 months pricing collapse!

Boooyaaaaaaaaaaaaa!

Bob

4/25/2006 02:51:00 PM  
Anonymous UnRealtor said...

Inventory climbing, number of buyers plummets:

32 Added
4 Back on Market
21 Price Reductions
5 Expired
3 Withdrawn

4/25/2006 03:03:00 PM  
Blogger bairen said...

Parts of Edison are very nice. South Edison along Rt 27 is pretty grim, mostly 50 yo 60 yr old POS ranches and tiny cape cods.

I looked at buying one back in 99 or 2000 and was disgusted at every house I went into. Not a single one was in move in condition, uneven floors, crooked walls, sagging ceilings, the stench of mildew in the air. Plus many of the neighbors were mullet headed, 80's heavy metal t-shirt wearing, missing teeth, dirtbags. Many young men home during the normal work week too. Bonus!! Maybe they could watch the house for you while YOU were at work. heh heh

There was no way I would buy one back then. The price? $110 to $125k. Now they are probably $250-$300k.

4/25/2006 03:30:00 PM  
Blogger bairen said...

The Northeast corridor train theoreticaly takes about 40 to 45 minutes from Edison, Metuchen, Metropark stations. I spent that much time trying to get out of the Metropark parking lot sometimes.

If you have to take a bus or subway once you get to NYC you are looking at an average commute of 90 minutes or more door to door.

Did I mention the juvenile jail down the street from the Edison station? Another plus for Edison area.

4/25/2006 03:36:00 PM  
Anonymous Anonymous said...

Now I rent an apartment in Edison. I began to look for a house/townhouse since March. I didn't find anything decent. Mostly are 20-30 years old and
very expensive. My offer price should be 15-20% below the asking price. But my agency said it is imposssible. So I am going to wait.

4/25/2006 03:46:00 PM  
Anonymous Anonymous said...

I observed the list house/condo in edison on realtor.com. Number of list is
4/4 667
4/11 673
4/18 690
4/25 728

7% increase in 20 days.

4/25/2006 03:48:00 PM  
Anonymous Anonymous said...

That's a 9% increase

4/25/2006 04:26:00 PM  
Anonymous Anonymous said...

I was told north edison is one of the safest towns in NJ and has good schools. Is it true?

4/25/2006 05:48:00 PM  
Blogger bairen said...

The 2 bedroom condos and apartments along Rt 1 on frequently mistaken for 3 & 4 family homes by the immigrant population. An honest mistake.

Anonymous 4:48. Have you looked at the condos/townhouses off 287 exits 10 to 13? Much nicer area then Edison.

4/25/2006 05:50:00 PM  
Blogger bairen said...

North Edison is very nice. You have to be careful though because realtors will classify sections of Edison as North Edison even though the school district is not the one you think you are moving into. You could be stuck sending your kids to mulletheaded land while paying North Edison prices.

4/25/2006 05:53:00 PM  
Anonymous Anonymous said...

The market in Edison is HOT. Homes continue to sell well, but prices have stabilized.

4/25/2006 06:26:00 PM  
Anonymous Anonymous said...

Does any one know Parsippany, Morris county? I feel this is an extremely flipper-infested town(I had a contract on a house for 280K and it was later falling through 2 yrs back. A flipper bought the house at about 350K last summer and I just find it is back on the market for about 430K). You have to be amazed by the flipper's insane greed!

I see we have over 100 houses for sale and I don't see not much sales. Can grim pull out some of the detailed info?

4/25/2006 06:38:00 PM  
Anonymous Anonymous said...

I was told north edison is one of the safest towns in NJ and has good schools. Is it true?

I was told the same about Newark -- "Suzanne researched this."

4/25/2006 08:00:00 PM  
Anonymous Anonymous said...

I lived in Edison. The school system In North Edison is good ( ranked around 40) and the town is safe. There is a low income community in North Edison, so one the lower school ( Martin ) is not so good. If you want to buy a house in N. Edison, pay attention to train. Make sure no train is very close to the house. Also most of the house in N. Edison is very old and design is very poor.

4/25/2006 09:22:00 PM  
Anonymous Anonymous said...

Is there similar "At A Glance" data for Iselin, which is next door to Edison, though smaller?

4/26/2006 02:57:00 PM  
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