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Fair Price for Single Family in Somerset and Middlesex County in NJ?

I have simple question and without sales pitch if some smart real-estate brain can provide logical answer it would be helpful.

Somerset County (Bridgewater, Raritan, Franklin) and Middlesex County (Piscataway, North/South Brunswick, Edison) how much average price is down from 2006 peak? I understand all houses are not equal but I need reasonable answer... In short, House that was sold for 550k in 2006 what is intrinsic value left (lets assume its in avg. ok condition)?
  • January 31 2011 - Bridgewater
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Answers (2)

The prices in those counties are down roughly 25% from the absolute peaks in spring 2006.  It would still depend upon a lot of factors such as any improvements or inversely wear-and-tear since the purchase in 2006, changes in the community for good or bad, etc.  Zillow actually does a really nice job of showing overall trends.  Links to the value indexes below:

Somerset Values

Middlesex Values

Hope that helps.

Best,
Jeremy Gulish
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  • January 31 2011
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The simple answer, appleusa, is 20% depreciation.  Of course, every home and location is different.
  • January 31 2011
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