Much has been made about the poor home sales numbers from May. Nationally home sales plunged 30% in May, and regionally New Jersey saw a decline of 23% over May 2009, according to local market guru, Jeff Otteau. And so, while the recovery process reverses course both nationally and in our fair state, it is somewhat of a surprise, albeit a pleasant one, to see that Chatham real estate and Madison real estate are actually on the rise!

Indeed, Madison and Chatham home sales actually rose in the period from May 1, 2010 to July 1, 2010 about 32% above the same period last year. The icing on this good news cake is the fact that during that same period new listings were down slightly. Fewer homes coming to market- more homes going under contract: these are the trends that make for a market recovery!

For a current look at Chatham homes for sale click here, and for a look at Madison homes for sale click here.