Whenever people ask me how the current real estate market is, I tell them that the straight-board answer really depends on which town you live in or which town you’re looking to buy in. That being said, all the New Jersey towns with direct train access to New York City generally are in a really strong market right now.
In Maplewood, sales are currently running about 10% ahead of where they were this time last year. Inventory is about 40% lower than it was this time last year. Our current inventory—which is the amount of time it would take to sell all the listings on the market—is about 1.9 months. This basically translates into a strong seller’s market.
If you’re looking to sell your home, then now is a great time to do it. If you’re looking to buy a home, there are still some really great homes out there for you. The key is to educate yourself about the market so when you find that home you love, you can act decisively about it.
If you have any questions, please contact me directly by phone or email. I’d be glad to help you with all your real estate needs!