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Warren County New Jersey Real Estate Market Trends - May 2024

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

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

Current Market Overview Warren County, NJ, continues to exhibit a strong real estate market as of May 2024, characterized by increasing property values and a competitive environment favoring sellers. Key indicators such as the median sold price, the list-to-sold price ratio, and inventory levels present a robust market with significant buyer interest. Market Dynamics Median Sold Price: The median sold price for properties in May 2024 stood at $408,000, marking a slight increase of 0.74% from the previous month. This trend highlights a steady appreciation in property values, making Warren County an attractive area for investors and homeowners alike. List-to-Sold […]

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Sussex County New Jersey Real Estate Market Trends - May 2024

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

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

Current Market Overview As of May 2024, Sussex County’s real estate market remains vibrant and dynamic, presenting several interesting trends and opportunities for both buyers and sellers. The data reflects a robust seller’s market, characterized by high demand and swiftly moving inventory. Key Data Points Property Values: The median estimated property value has shown a steady increase, reaching $425,090, marking an 11.7% increase over the past year. This uptrend suggests strong market health and growing buyer interest in the area. Sales Activity: The median sold price for properties was $390,000, a 2.5% increase from the previous month. Notably, the average

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Morris County New Jersey Real Estate Market Trends - May 2024

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

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

Current Market Overview As of May 2024, Morris County, NJ, is experiencing a robust real estate market, leaning towards a seller’s market across various property types, including single-family homes, condos, townhouses, and apartments. Key Data Points Median Sold Price: There’s a noticeable increase, with the median sold price reaching $705,000, marking a 10.16% month-over-month growth. This indicates strong buyer demand and a competitive market. List to Sold Price Ratio: Properties are selling for 106.7% of their list price on average, slightly up by 0.97% from the previous month, suggesting that many homes are selling above their asking price. Median Days

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More Than a House: The Emotional Benefits of Homeownership

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

Hey there, future homeowners! With all the buzz about housing affordability, it’s easy to get caught up in the numbers game. Sure, budgeting is crucial, but let’s not forget the real reasons why owning a home is such a big deal. As the National Association of Realtors (NAR) puts it: “The benefits of purchasing and owning your place of residence are both financial and emotional – pride in homeownership and the feeling of security are huge intangible benefits.” So, let’s dive into some of those emotional perks that make homeownership so special. A Sense of Satisfaction Owning a home isn’t

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What To Expect if You Buy or Sell a Home This June

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Select

June is a bustling time in the housing market, with many people looking to buy and sell homes. If you’re planning a move this month, here’s what you need to know to be prepared. If You’re Buying This June June is a popular time for families to move, especially those with children, since they prefer to relocate between school years. This means you’ll likely face more competition from other buyers. However, the good news is that more homes will be listed for sale during this time, giving you more options to choose from. According to Bankrate: “Late spring and early

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The Number of Homes for Sale Is Increasing

Advice, Buyer, Market Trends, Real Estate, Seller / By Keith LaBrunda - RE/MAX Select

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 Select

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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Thinking of Selling Your Home? Here’s What to Look for in a Great Listing Agent

Advice, Real Estate, Seller / By Heather Montalbano - RE/MAX Select

Selling your home is a major decision. It’s likely one of your most significant investments, filled with cherished memories. With such a personal and financial stake, you need a listing agent who truly understands your perspective and can expertly guide you through the selling process. Here are the essential skills to look for in a listing agent: Simplifying the Complex A proficient agent won’t overwhelm you with real estate jargon. Instead, they’ll break down complex concepts into clear, understandable information. Their goal is to keep you informed without confusion. A great agent will: Explain the real estate market trends in

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How Younger Homebuyers Can Turn Homeownership Dreams into Reality

Advice, Buyer, Real Estate / By Keith LaBrunda - RE/MAX Select

If you belong to a younger generation such as Gen Z, you might wonder if buying a home is within your reach, especially given the challenges of inflation, escalating home prices, and rising mortgage rates. Despite the tough market conditions for first-time buyers, achieving homeownership is possible with the right professional guidance. Here are some expert tips to help you on your journey: Investigate Down Payment Options The initial down payment is often the biggest obstacle. Fortunately, over 2,000 down payment assistance programs exist to make buying a home more accessible. Additionally, 49% of Gen Z homebuyers received financial help

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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 Select

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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