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: 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: 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: 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...]
So What’s Going on in the Morris County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Morris County housing market sagged a bit in the fourth quarter, with only a modest increase in sales and basically flat prices. For the year, sales were up slightly, but we are still not seeing any meaningful price appreciation. Sales. Morris County sales were essentially flat for the fourth quarter, rising 1.5% and finishing the year up 7.6%. This did mark the fifth … [Read more...]