The Northern New Jersey housing market finished 2015 in a flourish, with sharp increases in sales and emerging signs of meaningful price appreciation. As 2016 begins, the region seems to be moving into a fully-realized seller’s market that will be characterized by declining inventory, increasing sales, and rising prices. Sales were up over 8% for the region, rising in every … [Read more...]
So What’s Going on in the Morris County Real Estate Market?: The Rand Quarterly Market Report for 2015Q3
The Morris County housing market softened a bit in the third quarter, with sales up modestly but prices a little flat. Over the longer-term, we’re seeing sustained increases in buyer demand that are likely to have a meaningful impact on prices by 2016. Sales. Morris County sales were up modestly in the second quarter, rising 5.7%. This marked the fourth straight quarter with … [Read more...]
So What’s Going on in the Passaic County Real Estate Market?: The Rand Quarterly Market Report for 2015Q3
The Passaic County housing market surged in the third quarter of 2015, with sales activity up dramatically but prices relatively flat. If we continue to see these kinds of increases in buyer demand, though, it’s only a matter of time before Passaic experiences meaningful price appreciation. Sales. Passaic sales were up dramatically in the second quarter, rising 22.3% from … [Read more...]
So What’s Going on in the Bergen County Real Estate Market?: The Rand Quarterly Market Report for 2015Q3
The Bergen County housing market continued to gain momentum in the third quarter of 2015, with sales up sharply and modest price growth. If buyer demand continues to grow, it’s only a matter of time before we start seeing more meaningful price appreciation. Sales. Bergen single-family home sales surged again in the third quarter, rising 14.1% for the quarter and now up 9.0% … [Read more...]
So What’s Going on in the Market?: The Rand Quarterly Market Report for Westchester and the Hudson Valley Region for 2015Q3
The housing market in Westchester and the Hudson Valley surged forward in the third quarter of 2015, with sales up dramatically throughout the region. More importantly, several counties showed signs of “green shoots” of meaningful price appreciation, reflecting the impact of the sustained increases in buyer demand that we’ve seen over the past few years. Home sales continued … [Read more...]