Chatham Township and Chatham Borough are highly desirable areas to live in New Jersey. This is due to the commuting proximity to New York City, highly ranked school systems, strollable downtown, and mix of old homes and new construction in a quiet location.
Location, as it is often said, is the most important factor in real estate. It’s one thing you can’t change. As a real estate appraiser, I not only take into account location but since I inspect properties on an individual basis, I am looking at style, age, condition, quality, house size, lot size and more. Beyond that, I’m looking for comparable sales for the fair market analysis as well as the real estate market in general.
Chatham Township (these statistics are from the Garden State MLS)
The median list price in Chatham Township is fairly consistent throughout the year at just under $1,200,000. The average sale price is $1,098,779. The average list price to sale price ratio is 97.5%. This means when it comes time to buy or sell a home, you can expect to negotiate approximately 2.5% off the list price. The average days on the market is just over one month which shows this market has a lot of demand. Finally, the max sale price in the last year was $3,050,000.
The median list price in Chatham Borough was a bit more sporadic ranging from $874,000 down to $637,000 throughout the year. The average sale price is $883,214. The average list price to sale price ratio is 97.1%. This means when it comes time to buy or sell a home, you can expect to negotiate approximately 3% off the list price. The average days on the market is just over one month as well which shows this market has a lot of demand. Finally, the max sale price in the last year was $1,700,000.
When comparing the two areas from a real estate statistics perspective, both are highly desirable areas as homes typically take just over a month to sell. Chatham Township has a higher average sale price and max sale price. The homes and lots on average are larger. Chatham Borough has the downtown area and train station which may be more desirable to some people.
Currently, the inventory in this area is limited and the demand is high, however homes are coming back on the market. This was due to many people taking their homes off the market during this pandemic as well as New York City residents looking to move out to the suburbs. They do share a school system.
The real estate market can be challenging. Hiring a professional to help determine fair market value can help make a difference of thousands of dollars in your pocket. As a Chatham appraiser, I have performed appraisals for buying, selling, tax appeals, divorce, estate planning, and refinancing. Please give American Realty Appraisals a call at 908-233-1337 to obtain the most accurate fair market value so you can make an informed decision.
Evan from American Realty Appraisals came out to our home last spring to conduct a home appraisal in support of our property tax appeal. He arrived promptly at the agreed time, was very professional and conducted a thorough walk through. We were very satisfied with the results of his appraisal - they were well-researched and accurately captured the features of the home. His appraisal proved to be a crucial element in a very successful tax appeal. I would gladly recommend his services to others.
I was extremely pleased in my experience with American Realty Appraisals. Evan was very knowledgeable and was happy to answer any questions I had. His appraisal was useful in our being able to successfully appeal our taxes. It was worth every penny. He also shared some suggestions on how to shore up insulation efficiency around the house. 5 Star service. thanks!
Evan was extremely helpful in our obtaining a favorable result from our tax appeal and I highly recommend his services
If you want the Do's and Dont's. I would say DO use Evan. It was a very smooth and easy process. He worked around my schedule. His turnaround time was very impressive. Price: He was in line with the other quotes I received. And you DON'T need to worry. I will recommend him and use him again
Prepared the documents to submit for a tax appeal and accompanied me to the tax appeal hearing to present my case. I have used American Realty Appraisals twice and have won my tax appeal each time.
I was appealing my real estate taxes and American Reality did an appraisal on my home. The appraisal went well and as a result the tax appeal was successful and our real estate taxes were lowered.
I was ignoring go through Tax appeal process because I thought it was so cumbersome with very little chance of winning. In this process, I used Evan for a tax appeal. Not only we won but it was very easy and simple process between him and the lawyer. I highly recommend to use Evan, he knows what he is doing!
The tax appeal through you and Lisa Walsh was successful, and you may use me as a reference any time in the future
Evan was great. He was instrumental in helping me to appropriately lower my taxes via an accurate appraisal. I highly recommend his services to anyone in need of an appraisal in NJ.
When the interest rates dropped last year, I decided that it was a good idea to refinance my mortgage. I was recommended to American Realty Appraisals by my mortgage company. They were affordable, expedient, and ultimately put together a very comprehensive report with figures, photos, and local comps. I would highly recommend them to anyone looking for a professional and honest appraisal company.
Evan and his team at American Realty Appraisals are simply the best at what they do. As a mortgage banking professional, I have worked with dozens of appraisal firms over the years and I continually return to American Realty Appraisals when I can for their expert advice and service. I would highly recommend them if you are an individual looking to have your home appraised, or a banker looking to add a high quality appraisal firm to your list of approved appraisers.
Before I went to list my home, I hired Evan at American Realty Appraisals. I wanted an unbiased opinion of what my home was worth. He provided a thorough report that gave me piece of mind and a leg to stand on when it comes time to negotiate. I was also pleased with how fast he turned the report around after the inspection.
I am an attorney in Westfield and I refer all of my clients to American Realty Appraisals. I have worked closely with Evan Siegel for the past two years and I have been impressed with his professionalism, integrity and expertise as an appraiser. Relying on his appraisals, I have been able to negotiate property tax reductions for numerous clients in Union County. I highly recommend American Realty Appraisals for all of your residential real estate appraisal needs.
ARA did a great job of handling my tax appeal. The guidance was spot on and the staff, specifically, Evan Siegel, was professional and knowledgeable. The outcome was excellent and I'm saving a good amount of money on my real estate taxes. Thanks ARA!!
I used Evan for a tax appeal project. It was a seamless operation between him and the lawyer. Zero blips, and we won.
Mr. Siegel performed an appraisal for my home for tax appeal purposes. He was very professional and helped me lower my taxes by 17%. I am quite satisfied with his work.
Highly recommend. Excellent service, professional, prompt. Great result