The housing market in Westchester and the Hudson Valley in the third quarter of 2016 defied the standard economic laws of supply and demand. Sales were up and inventory was down, but prices were flat across the board. Why? Maybe buyers are just leery of making a move during a tumultuous presidential election year. Sales activity continues to increase throughout the region. … [Read more...]
Second-Quarter 2016 Real Estate Market Report: Sussex County
The Sussex County housing market surged again in the second quarter of 2016, with sales up significantly even while prices continued to struggle. Sales. Sussex sales were up sharply in the second quarter, rising 23% from last year and finishing the year up over 26%. This continued a trend that we’ve been watching for the past four years, with year‑on‑year sales up almost … [Read more...]
Second-Quarter 2016 Real Estate Market Report: Essex County
The Essex County housing market stalled in the second quarter of 2016, with sales up slightly but prices continuing to struggle. Sales. Essex activity was a bit disappointing in the second quarter, with transactions up only 4% after a robust beginning to the year. Any kind of increase is a good sign for Essex homeowners, of course, but sales were up much more sharply in all … [Read more...]
Second-Quarter 2016 Real Estate Market Report: Morris County
The Morris County housing market surged again in the second quarter of 2016, with sales up sharply. Despite increasing buyer demand, though, prices still disappointed. Sales. Morris County sales were up almost 18% in the second quarter, marking the seventh straight quarter of year‑on‑year sales growth. The long‑term trend is also encouraging, with sales up almost 10% for the … [Read more...]
Second-Quarter 2016 Real Estate Market Report: Passaic County
The Passaic County housing market surged again in the second quarter, but another sharp increase in sales is still not having its expected impact on pricing. Sales. Passaic sales were up again in the second quarter, rising almost 22% from last year and finishing the rolling year up over 15%. Indeed, we’ve now seen sustained increases in buyer demand for over five years, with … [Read more...]