I hope this message finds you and your loved ones safe, happy, and healthy. Everyone on my end is all of that, so I am very grateful.
Ok, let’s get down to it. As you guessed from the subject of this post, this is about the numbers. The question everyone wants to know: Where are the prices for homes in NJ?
I am happy to report that prices are UP! And by a wide margin!
This may come as a surprise to you, but not to me. I’ve been watching the numbers daily and weekly.
The data below is for the full month of April. Yeah, it’s almost a month old. But I only want to bring you the audited numbers, and these are straight from the New Jersey Association of Realtors. They took a bit longer to be released because of the Memorial Day holiday weekend.
Anyhow, the reason why these numbers are so significant is because it represents a FULL MONTH of statewide closures. (remember that only half of the month of March was during the shutdown).
June is finally here, and the preliminary data for May are looking very promising as well!
Wait… How is it that prices are up so high? (pssstt… in the video above, I explain that, so go ahead and give it a watch).
Now, for the next question that some people are contemplating, “Should I sell my house now?” My usual answer is, “It depends on your wants and needs” and then we’d have a conversation to see what works best for you.
However, in this case I’ll say this:
If you are wanting to move, but wanted to see what was going to happen with prices, then you should make a decision soon.
Average prices across the state and every county I serve are extremely attractive for sellers right now. Of course, every town and neighborhood is different.
Not to mention, this market isn’t just good for sellers. It is great for buyers also because interest rates are STILL ridiculously low!
If you would like more info on the prices in your county, see the infographs below.
If more detail is what you need, I can also assist with prices in your specific town or neighborhood. Please feel free to reach out.
