A Look At Linwood, NJ---Real Estate Update By Gary D. Simmens
By Gary D, Simmens
Broker/Associate at Keller Williams Atlantic Shore Realtors
Linwood, NJ 08221, known for its wide street Gold Coast stately homes, the bikepath, home of Mainland High School, has seen some
improvement in real estate sales in the $400,000 and below range and especially in the $275,000 and below price point, which has
shown to move much faster now than the last 3 years. As in in most towns in South Jersey on the mainland, the upper end luxury market
has seen a slow down sales and steady price increases, partly due to tax laws changing in NJ and nationally in the last few years.
Linwood was originally incorporated as a borough by an act of the New Jersey Legislature on February 20, 1889, from portions of Egg Harbor Township, based on the results of a referendum held the previous day. Linwood was reincorporated as a city on April 27, 1931. The area had been called Leedsville until 1880, when a post office was being established. The United States Postal Service insisted that the name had to be changed as it conflicted with an existing post office elsewhere in the state. Among the names proposed and considered by local residents were "Brinola", "Geneva", "Pearville" and "Viola", with "Linwood" ultimately chosen.
Today, living in Linwood means enjoying a combination of historical remembrance and residential neighborhoods. The town features several recreation areas that total over 36 acres, including the All Wars Memorial Park, a great spot for picnics and hiking. Linwood also boasts several wetland areas along the shore for boating and fishing. Looking back to the days of farming glory, Linwood is also known to grow some of the most beautiful African violets and orchids in the country.
One recent real estate current market statistic that stands out to me is May 2019 sales for single family homes, is the days on the market till sold has dropped, and gone down for a welcomed 40.6%, for homes moving faster, compared to May of 2018. Even though the sales for the month are less then same month in 2017, they are moving much faster now with less marketing time in the $400,000 and below price point.
Also the median sales price rose up from $237,000 to $250,000 from 2017 to 2018 a 5.5% increase, while as of May 2019 compared to May 2018 showed a slight 3% decrease in median sales price. The most expensive home to sell in the past year was a gold coast location 5 BR home with a sold price of $962,500 on 05/20/19. The Townhouse-Condo segment market has shown some improvement along with Adult Community sales as well. The current all time low mortgage interest rates are helping to fuel the faster sales along with the improving local and national economy. It`s a great time to invest in the real estate market in Linwood, NJ and the surrounding mainland towns. See more at: www.GarySimmens.com
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