The four bedroom, two full and one half bathroom colonial was listed for $899,000 and sold for $1,150,100.Courtesy of Seema D. Wu of Kellar Williams Metropolitan
This house received an over-asking price offer before it was even listed.
The four bedroom, two full and one half bathroom colonial was initially put out as an office exclusive — meaning it wasn’t being shared yet in the multiple listings services.
When it did go fully on the market, “interest was high right away,” said Seema D. Wu of Keller Williams Metropolitan, the listing agent.
The home was listed April 21 for $899,000. It closed June 6 for $1,150,100. That’s $251,100 or 29% over asking price.
The 2,866 square foot home sits on a half-acre lot in Cedar Knolls, which is part of Hanover Township.
“Buyers loved the location — it’s on a cul-de-sac — in a low property tax area with great schools and a strong sense of community,“ she said.
The home opens to a large foyer with two closets. To the right is a living room. To the left is the dining room. The back of the house has the laundry room, a large kitchen, a half bathroom and a large family room with a fireplace.
The second level has all four bedrooms and the two full bathrooms, one of which is an en suite in the primary bedroom.
Outside there is a large, two-tiered deck overlooking the flat backyard.
“It has old world charm, character and a spacious yard,” Wu said.
The home’s popularity was evident in the numbers: 39 people toured it through private showings, resulting in an extraordinary 24 bids.
“Homes in this area rarely come up, so demand is high,” she said.
The winning bidder offered the highest price, had strong terms and a flexible closing date, Wu said.
The seller agreed to remove an oil tank, so the flexible closing was key because of the permitting process for the tank removal, she said.
Are you an agent, buyer or seller who is active in this changing market? Do you have tips about New Jersey’s real estate market? Unusual listings? Let us know.
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Stories by Allison Pries
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Allison Pries may be reached at apries@njadvancemedia.com.