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: 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...]
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: Passaic Market Overview
The Passaic County housing market started off 2016 with an increase in sales coupled with mixed results in pricing. Most indicators, though, signal that Passaic continues to develop as a classic “seller’s market” that will likely drive sales and prices up through the rest of the year. Sales. Passaic sales were up again in the first quarter of 2016, rising over 8% from last … [Read more...]
So What’s Going on in the Passaic County Real Estate Market?: The Rand Quarterly Market Report for 2015Q4
The Passaic County housing market closed strong in the fourth quarter of 2015, with solid increases in both sales and prices. As a result, Passaic finished its third straight year of meaningful price appreciation, clearly indicating that it is moving into a seller’s market. Sales. Passaic sales continued to go up in the fourth quarter, rising almost 7% and finishing the year … [Read more...]