Hillsborough August Real Estate Update
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Recap of Hillsborough July, 2021
Check out this market update for Hillsborough heading into August, 2021!! This summer continues to be a scorching real estate market and many of the trends seen last quarter continue.
In July of 2021 there were 78 new listings hit the market which is exactly the same as last year. These new listings ranged from $160k all the way to $996k with an average listing price of $479k. This average listing point is up 7% from the previous year’s July data. 62 of the 78 houses to hit the market sold with an average sale price of $486k which is up 6% compared to the $457k average close price of July 2020. The houses continue to move very quickly with only an average of 26 days to get the home listed and under contract which is a 35% decrease since July 2020!
On the single family home side of things there have been 53 new listings which is an 18% increase year over year since last July. These properties are listed at an average price of $571k. The real highlight of this market update is the selling price for these properties. The average closing price is $648k this July, 2021 compared to 550k relative to last year! This is a 18% year over year increase and is a great indication of how hot the market is right now.
Over on the townhomes/condos side of things there have been 25 new listings and the average list price has increased by 10% from the previous year to $285K. But even more exciting is that the average closing price for these properties have increased 14% year over year from $275k to $313k!
PICK OF THE QUARTER
The Destination NJ featured pick for this month is 6th Sharp Drive, Hillsborough! This house is located on a beautiful lot with a stunning green backyard. It is over 3500 square feet and has been very nicely updated throughout the years. Although it doesn’t have a basement this house has a really cool walk up third floor that can be used for various things such as an office or a media room. You are sure to love this listing! Feel free to reach out to Robert Webb with any inquiries.
Make sure to take a look at all the other available homes in this area down below. Thanks for checking out this Hillsborough July 2021 market update, feel free to reach out to Robert Webb with any questions at [email protected]. Head on over to our YouTube channel for more updates and home tours.