Market Trends Archives

The Number of Homes for Sale Is Increasing

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

The past couple of years have been challenging for home buyers due to the limited number of available homes. However, the situation is beginning to improve. This year, the housing market is seeing an increase in available homes. The graph below, based on the latest data from Realtor.com, shows that in April 2024, there were more homes for sale compared to the past few years (2021-2023): As Realtor.com states: “There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.” But […]

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What’s Next for Home Prices and Mortgage Rates?

Advice, Buyer, Market Trends, Mortgage Rates, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

If you’re planning to move this year, two key housing market factors are likely on your mind: home prices and mortgage rates. You’re probably wondering what the future holds and whether it’s better to act now or wait. The best approach is to base your decision on the latest information. Here’s what experts are saying about both home prices and mortgage rates: What’s Next for Home Prices? A reliable source for home price forecasts is the Home Price Expectations Survey from Fannie Mae – which gathers insights from over one hundred economists, real estate experts, and market strategists. According to

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Warren County New Jersey Real Estate Market Trends - April 2024

Real Estate Market Trends Report for Warren County, NJ – April 2024

Advice, Buyer, Market Trends, Real Estate, Seller, Warren County / By Keith LaBrunda - RE/MAX Town & Valley

Current Market Overview Warren County’s real estate market is currently showing significant signs of growth and seller advantage. Key Data Points Median Sold Price: The median sold price of properties, encompassing single-family homes and condos/townhomes/apartments, has risen to $405,000, reflecting a 5.19% increase month-over-month (MoM). This indicates a robust demand and upward pressure on prices. List to Sold Price Ratio: Properties are selling at 103.4% of their list price, up by 1.71% MoM. This suggests that bidding wars and competitive offers are common, often driving final sales prices above initial asking prices. Days on Market: Properties are moving quickly, with

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Sussex County New Jersey Real Estate Market Trends - April 2024

Real Estate Market Trends Report for Sussex County, NJ – April 2024

Advice, Buyer, Market Trends, Real Estate, Seller, Sussex County / By Keith LaBrunda - RE/MAX Town & Valley

Current Market Overview Sussex County’s real estate market is currently experiencing a vibrant phase with several key indicators pointing towards a seller’s market. Key Data Points Median Sold Price: The median sold price for properties in April 2024 was $400,000, marking a significant increase of 7.7% compared to the previous month. List to Sold Price Ratio: Homes are selling for 103.2% of their listed price, up 1.49% month-over-month, indicating strong demand and possibly multiple offer situations. Days on Market: Properties are selling faster, with a median of 21 days on the market, a decrease of 16% from the prior month.

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Morris County New Jersey Real Estate Market Trends - April 2024

Real Estate Market Trends Report for Morris County, NJ – April 2024

Advice, Buyer, Market Trends, Morris County, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

Current Market Overview Morris County’s real estate market is showing significant strength and dynamism as we move further into 2024. The data indicates a robust seller’s market, characterized by quick sales and high demand. Key Data Points Median Sold Price: The median sold price for properties (including single-family homes, condos, townhomes, and apartments) is currently at $640,000, showing a 1.54% increase month-over-month. Days on Market: Properties are selling quickly, with the median number of days on the market standing at 14, a decrease of 6.67% from the previous month. Price per Square Foot: The average price per square foot has

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Warren County New Jersey Real Estate Market Trends - March 2024

Warren County, NJ Real Estate Market Trends Report – March 2024

Advice, Buyer, Market Trends, Real Estate, Seller, Warren County / By Keith LaBrunda - RE/MAX Town & Valley

Current Market Overview The real estate market in Warren County, NJ, as of March 2024, presents a dynamic environment primarily characterized as a seller’s market. This report summarizes key trends and data from the latest market analysis to assist potential buyers, sellers, and investors in understanding the current landscape. Key Market Indicators Median Sold Price: The median sold price for properties in March was $390,695, which is a significant increase of 16.28% from the previous month. This suggests a robust demand and potentially quick appreciation in property values in the area. List-to-Sold Price Ratio: Properties are generally selling for 101.7%

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Sussex County New Jersey Real Estate Market Trends - March 2024

Real Estate Market Trends Report for Sussex County, NJ – March 2024

Advice, Buyer, Market Trends, Real Estate, Seller, Sussex County / By Keith LaBrunda - RE/MAX Town & Valley

Current Market Overview The real estate market in Sussex County, New Jersey, as of March 2024, displays strong growth signals, making it a dynamic environment for both buyers and sellers. Analyzing the comprehensive data from the Realtors Property Resource, we observe key trends that can help prospective buyers, sellers, and investors make informed decisions. Market Dynamics Median Estimated Property Value: The median estimated property value for properties in Sussex County (including single-family homes, condos, townhomes, and apartments) has shown a significant increase of 11.5% over the past 12 months, reaching $420,730. This suggests a strong upward trend in property values,

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Morris County New Jersey Real Estate Market Trends - March 2024

Real Estate Market Trends Report for Morris County, NJ – March 2024

Advice, Buyer, Market Trends, Morris County, Real Estate, Seller / By Keith LaBrunda - RE/MAX Town & Valley

Current Market Overview As of March 2024, Morris County’s residential real estate market is experiencing significant upward trends in prices and demand, categorizing it as a Seller’s market. The data indicates robust activity with rapid sales and increasing property values, suggesting a favorable environment for sellers. Key Data Points Median Sold Price: The median sold price for properties (SF + Condo/TH/Apt) in March 2024 was $650,000, marking an 11.11% increase from the previous month. Median Estimated Property Value: The median estimated value of properties slightly decreased by 0.3% from the previous month to $629,700, but has grown by 7.9% over

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How BuyingNew Construction Homes Can Help During the Affordability Crisis

Advice, Buyer, Construction, Market Trends, Real Estate / By Keith LaBrunda - RE/MAX Town & Valley

Are you on the hunt for a new home this spring? If so, you might be feeling the pinch of current affordability issues and the frustration of a sparse housing market. But what if there was an alternative that could ease both of these concerns? For those finding it difficult to locate the perfect home, or for whom mortgage rates are a significant financial strain, considering newly constructed homes could be a wise move. Here’s the rationale. A Glimmer of Hope in New Home Inventory In the quest for a new home, buyers typically weigh the pros and cons of

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The Coming Silver Tsunami Could be More Like a Gradual Wave

Advice, Buyer, Market Trends, Real Estate, Seller, Senior Housing / By Keith LaBrunda - RE/MAX Town & Valley

The term “Silver Tsunami” has been making rounds, suggesting a massive shift of baby boomers downsizing or relocating simultaneously. This scenario raises concerns about a potential flood of properties hitting the market, intensifying competition for smaller homes, and disrupting the supply-demand equilibrium, potentially affecting property values. However, this perspective overlooks several key points. Let’s address these misconceptions and provide some reassurance. Not Every Baby Boomer Intends to Relocate Firstly, a significant number of baby boomers have no intention of moving. According to a study by AARP, over half of individuals aged 65 and older prefer to remain in their current

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