legacyrealtygroup

WHY YOU SHOULD CONSIDER SELLING YOUR HOME NOW !!!!!

Buyers are active, mortgage interest rates are still at an all time low and inventory is low. So what are you waiting for? Experts say there may be no better time than NOW, to post that for-sale sign.

***

Experts concur that New Jersey real estate is recovering strongly. After years of crisis and stagnation, sales volume is sharply up, and prices are rising. In 2013, the median home sales price rose by a projected 5% statewide, and the increase occurred despite Superstorm Sandy, which dragged down selling prices in devastated Shore communities by as much as 7% in 2013. What's more, the 4th quarter of 2013 was on track to be the most active sales period in the state since 2007. In October alone, home sales were up 19% compared to October 2012, and this despite the 16 day government shutdown that month.

North Jersey>

The hottest markets this past year, generally have been desirable suburban towns in North Jersey, like Chatham, Glen Ridge, and West Caldwell, which saw selling prices for homes gain an average of 8% over the past 12 months.

Central Jersey>

As a whole, Central Jersey has not been as active as North Jersey, but it has picked up and gotten better over the past 2 years. Some Central Jersey towns, including Metuchen, Milltown and Plainsboro, did show a healthy 7% average price gain in 2013.

South Jersey>

The marketplace is slowest in South Jersey, where unemployment has consistently run higher than the state average, which is itself, higher than the National average. However, even in the southern counties, certain real estate pockets such as, rural Gloucester County and the Moorestown area, a Burlington County suburb, about 15 miles East of Philadelphia, prices are heating up.

As hot as the market has become, some potential sellers are still dragging their feet, hoping to take further advantage of rising prices. Currently, however, New Jersey is in a "window of opportunity". When the market was down just a few years ago, many thought it was inconceivable that price wars would ever return, but that is exactly what is happening in quite a few towns around the state.

*** data excerpted from New Jersey Monthly Magazine.

For all your real estate and insurance needs, and an expert market analysis on the value of your home today, contact LEGACY REALTY GROUP, EDISON, N.J. 732.744.0400.