The top end of the market continues to be weak and oversupplied, despite low inventory and solid demand in the low and moderate price ranges. Over the last few years, listings above $1 million in the Somerset Hills region were…
Last year about this time I posted about inventory in Essex County. At the time, inventory was feeling unusually constricted. With the economy heating up and interest rates on the rise, focus seems to be on inventory. So how is inventory…
Looking at some of the more transit – oriented residential markets, we are seeing a definite uptick in contract prices this spring. Taking a look at Summit’s market, for example, it’s clear that there has been a substantial “pop”. An…
Anecdotal reports are that inventory is low right now as noted in my previous post. So to continue the analysis, we did an analysis of the single family residential market in Union County as well. Like Essex County, Union…
The economy is starting to rev up, the Dow is making all time highs and unemployment is low. What are people likely to do? Buy a new house of course. Great for those folks in the real estate sales business,…
We last checked in on the Clifton single family home market in 2014, At the time the market was gradually appreciating at an average rate of just over +1% per month (+13.2% year over year). Checking back in just over…
Lender short sales continue to influence these key NJ markets. However the percentages of new listings which identify themselves as short sales continues to drop in both Essex and Union Counties. In 2016, about 10% of listings initiated in these counties,…
We continue to see differentiation in the markets of individual NJ towns. There are a subset of towns in NJ which are prime bedroom communities with highly ranked school systems that also have an NJ Transit rail station. We continue to…
Thought I’d share a quick snapshot of the Roseland, NJ housing market. Overall in NJ the market has improved in the past few years but we continue to see variation from market to market in performance. Take as an example…
We took a detailed look at the housing market in Glen Ridge NJ, Essex County, NJ, analyzing changes in pricing and high end activity over time. Here’s a summary of the findings: Median prices have been on a steady uptrend…