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Health & Fitness

NJ Home Sales Turn a Buyer's Market into a Seller's Market

NJ homes sales in 2012 were so strong that it is becoming more of a "Seller's Market" in Millburn, Short Hills, South Orange, Maplewood and Livingston.

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Amy Harris, Neighbor
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The year end results for NJ Home Sales show that an incredible amount of inventory sold in the last year. As a result, it is creating a fundamental shift in residential real estate in key markets. Home sales in Millburn, Short Hills, South Orange, Maplewood, Livingston and other key markets in New Jersey have been so robust that their average amount of inventory has diminished by half! This "sell off" creates the pivotal moment turning what was a "Buyer's Market" into a "Seller's Market," and presents great opportunity for buyers and sellers alike.Right now is the best market to sell property compared to any other time in the last 4 years. With less inventory, comes less competition and homes are selling faster and at slighlty higher prices.  

Still A Great Time to Buy a Home in NJ

  Buyers are still in an advantageous position because the prices have only just begun to rise and the interest rates continue to be at historical lows. The average mortgage rate is still under 4% for a 30 year fixed (if you have good credit and other qualifying parameters). So don't kick yourself if you put off purchasing a home until now. You know how you wish you knew about a stock right before it is going to take off? Well, this is that exact moment in the real estate market. It is a critical moment, or the game changer, because the shift has already begun, but is only in it's infancy. When you look back in 5 years you can't say I didn't tell you.

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