The Northern New Jersey housing market plateaued in the third quarter of 2016, with sales flattening out after a torrid start to the year and pricing struggling to gain traction. With inventory levels falling throughout the region, though, we expect that the market might gain strength going into 2017. Sales were basically flat throughout the region. After a strong start to … [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: Northern New Jersey Market Overview
The Northern New Jersey housing market continued to surge in the second quarter of 2016, with sales up sharply throughout the region. But rising levels of buyer demand are not yet having any real impact on pricing, which was flat or down in each of the counties. Sales were up over 13% for the region, rising in every county in the Report. Closings have now been trending up … [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...]
So What’s Going on in the Essex County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Essex County housing market closed the year with a modest increase in sales and some mixed results in pricing. For the year, sales were up fairly significantly, but we’re still not seeing any meaningful price appreciation. Sales. Essex sales were up in the fourth quarter, rising over 4% from last year and finishing the year up almost 10%. Indeed, Essex closings have now … [Read more...]