The Sussex County housing market surged again in the first quarter of 2016, with a dramatic spike in sales that continued a long.term trend of markedly higher transaction rates. Nevertheless, we are still not seeing these sustained levels of buyer demand have their expected impact on pricing, which was down yet again. Sales. Sussex sales were up sharply in the first quarter, … [Read more...]
First Quarter 2016 Real Estate Market Report: Essex Market Overview
The Essex County housing market started the year strong, with a surge of sales activity. But even with demand up, prices went down sharply, indicating that the county has not yet developed into a “seller’s market.” Sales. Essex County sales were up sharply in the first quarter, rising over 13% for the quarter, marking the fifth straight quarter of year on year sales growth. … [Read more...]
First Quarter 2016 Real Estate Market Report: Morris Market Overview
The Morris County housing market recovered from some late 2015 doldrums to post a robust start to 2016, with a spike in sales. Even with this surge in activity, though, pricing was disappointing. Sales. Morris County sales were up sharply in the first quarter, rising almost 17% for the quarter, marking the sixth straight quarter of year-on-year sales growth. The long-term … [Read more...]
First Quarter 2016 Real Estate Market Report: Passaic Market Overview
The Passaic County housing market started off 2016 with an increase in sales coupled with mixed results in pricing. Most indicators, though, signal that Passaic continues to develop as a classic “seller’s market” that will likely drive sales and prices up through the rest of the year. Sales. Passaic sales were up again in the first quarter of 2016, rising over 8% from last … [Read more...]
First Quarter 2016 Real Estate Market Report: Bergen Market Overview
The Bergen County housing market started 2016 off strong, with sales way up and clear indications of increasing buyer demand. Sales. Bergen single-family home sales started the year with a flourish, rising over 19% for the quarter and marking the sixth straight quarter of year-on-year sales increases. Indeed, we are starting to see transactions at “seller market” levels, … [Read more...]