The Northern New Jersey housing market finished 2017 strong, with prices up even while declining inventory throughout the region stifled sales growth. With demand high, and available homes low, we believe that homeowners will continue to enjoy price increases throughout 2018. Regional sales were up, but not in every county. Regional sales were up slightly for the quarter, … [Read more...]
Homes in Northern New Jersey Are STILL Cheaper Than They’ve Been in a Generation
Right now is a really great time to be buying a home in Northern New Jersey Man, do I hate saying that. As I’ve explained before, I hate the phrase “great time to buy,” for a couple of reasons. First, people have different needs, and a market that’s great for one person might be terrible for another person. Second, while markets tend to move together, we do see … [Read more...]
Third-Quarter 2017 Real Estate Market Report: Sussex County Market Overview
Activity in the Sussex County housing market surged yet again in the third quarter of 2017, with sales up sharply even while prices continued to struggle. Sales. Sussex sales were up yet again in the third quarter, rising over 17% from last year and now up over 22% for the year. The 2749 closings represented the highest 12‑month total in over 10 years. Indeed, Sussex sales … [Read more...]
Third-Quarter Real Estate Market Report: Essex County Market Overview
The Essex County housing market slowed a touch in the third quarter of 2017, with sales up a bit but prices mixed. Sales. Essex sales activity was up again, rising almost 4% from the third quarter of last year. This continues a trend that’s been developing for a while, with the rolling year sales up over 9%. Indeed, Essex closed over 5,300 units over the rolling year, the … [Read more...]
Third-Quarter 2017 Real Estate Market Report: Morris County Market Overview
Prices in the Morris County housing market showed more signs of life in the third quarter of 2017, even while low levels of inventory continued to stifle sales growth. Sales. Morris County sales were up just a tick, continuing a streak in which year‑on‑year sales have now gone up for 12 straight quarters, three full years of sustained buyer demand. For the year, sales were … [Read more...]