Rising interest rates has resulted in fairly low refinance volume in NJ. And inventory, which remains fairly low has also crept into the picture. Buyers do appear to be out there and signed considerably more contracts in the 1st quarter…
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…
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…
Data for the market in Essex Fells is portraying a relatively stable situation still with no meaningful movement in median sales prices over the past 24+ months. As we’ve seen with many of the high end NJ markets, it…
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…
With some return to normalcy in the real estate markets we are seeing a return to bidding wars in some central and northern NJ markets. Typically, this effect is seen in communities with relatively tight supply and in those with…