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Morristown NJ Real Estate Home Sale Statistics

Morristown NJ Real Estate 

Let's look at current home sale statistics:

Morristown NJ average home sale prices ~

  • 3 Bedrooms - $455,459 with 93 days on the market
  • 4 Bedrooms - $$477,476 with 56 days on the market
  • 5+ Bedrooms - $831,875 with 138 days on the market

Overall average home sale price ~ $478,848 with 107 days on the market.

Call Susan Zanzonico - Morristown NJ Realtor - 973-214-5872 and view Morristown homes for sale today!

Related Links
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Morristown Acorn Hall Tour Sunday!

It's supposed to be a gorgeous weekend and the perfect opportunity to checkout some things to do in Morristown New Jersey.  The 19th century house museum 'Acorn Hall' is having a Gowns exhibit this Sunday at 1:00.  Check it out!

Call Susan Zanzonico on 973-214-5872 if you're interested in homes for sale in Morristown

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Best High Schools in New Jersey

http://www.usnews.com/listings/high-schools/new_jersey/chatham_high_school
http://www.usnews.com/listings/high-schools/new_jersey/madison_high_school
http://www.usnews.com/listings/high-schools/new_jersey/millburn_high_school
http://www.usnews.com/listings/high-schools/new_jersey/summit_high_school
http://www.usnews.com/listings/high-schools/new_jersey/ridge_high_school


All

http://www.usnews.com/directories/high-schools/index_html/state_id+NJ/page_number+1/page_size+10/sort+alpha/name+/award+1+2+3+4/school_name+/county+/detail+less

 

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Comparison Between Renting vs. Buying

As 2013 is right around the corner, many renters and first timer's are deciding if 2013 will be the year they will finally get off the fence, time the market "just right," stop paying their landlord's mortgage, and own a homeof their own.

Home affordability as we all know is at an all-time high. The combination of stabilizing home prices and record low interest rates combined with rising rent prices have made home ownership a much more attractive option than what we have seen in the past few years.

Many customers still don'trealize the financial value. In addition, almost every one of them is not aware of the tax benefit they will receive at the end of the year vs. nothing at all if they are renting.

Bottom Line.... If you are not aware and do not see the numbers for yourselves, how can you truly understand the financial value of home ownership.  Let's look at a comparison between renting vs.buying. This was put together by the loan officer at Weichert, Realtors - Joe Mascuch. 

RentalScenario (1 Year Lease)

$2,400 Rental Price

$8,400 Approx. amount to enter rental agreement (1.5 months security, 1st month payment, 1 month commission)

$2,400 Monthly Rent Payment

$70 Monthly Water/Sewer Payment

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$2470 ESTIMATED MONTHLY RENTAL PAYMENT

$0.00 Annual Income Tax Benefit

Purchase Scenario

$350,000 Purchase Price

$18,000 Required Down Payment for Conventional Loan (Minimum 5-6%)

$1502.00 Principal & Interest (approx.)

$600.00 Taxes

$70.00 Insurance

$0.00 Monthly PMI Payment

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$2172.00 ESTIMATED MONTHLY MORTGAGE PAYMENT

$18,564.00 Estimated Annual Income Tax Deduction

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