Is The NEW JERSEY Housing Market SLOWING DOWN?!😱 | New Jersey Midsummer Market Update 2024

Описание: Is the New Jersey Housing Market Slowing Down?! Welcome to the New Jersey Midsummer Market Update 2024! Are you considering moving to or buying a home in New Jersey? As we find ourselves in the heart of summer, the real estate market in New Jersey presents a fascinating landscape. In today's episode of New Jersey Living, let's explore the latest New Jersey housing market trends with our 2024 Midsummer Update. Find out if the market is slowing down in critical areas like Union, Bloomfield, and Teaneck.

Here are the key highlights in this New Jersey Midsummer Market Update 2024:
1. Interest Rates - Interest rates have slightly trended downward but haven't seen the significant drop some expected over the summer.
2. Market Selection - Learn about the markets with robust activity and middle price points ($400,000 to $800,000), avoiding extreme high-end markets.
3. Union Township Market - In July, Union Township saw 29 single-family home sales, a decrease from the higher spring activity. Most homes sold at or above the list price, indicating a strong seller's market.
FEATURED PROPERTY: A Single-Family Home at 1146 Burnett Ave sold for 19% above the list price, showing continued strong demand in the area.
4. Teaneck Market - This market had 16 single-family home sales in the last month, with a mix of properties selling above and below the list price. The market is slowing down, but competition remains intense.
FEATURED PROPERTY: Colonial Style Home at 505 Queen Anne Rd sold above the list price after eight days on the market, highlighting the area's desirability due to its location near a park and bus line.
5. Bloomfield Market - This market recorded 25 single-family home sales, reflecting a spring slowdown. Most properties sold above the list price, with only two selling below.
FEATURED PROPERTY: In-demand The well-maintained Raab Ave near a golf course sold for 20% above the list price, demonstrating strong demand despite the midsummer slowdown.

While the New Jersey midsummer market shows signs of slowing in terms of volume, the intensity of competition remains high. Buyers are still eager to secure properties, often bidding above the list price. This trend suggests that while fewer players may be in the game, those who remain are playing to win.

Watch the FULL video to learn more about the New Jersey Housing Market. If you want to know more about living in New Jersey, don't hesitate to contact me! Like this content? Hit the LIKE and SUBSCRIBE buttons for more!

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Are you moving to New Jersey? Find out what it's like Living in New Jersey on this channel. We'll show you the best neighborhoods in New Jersey, things to do, the cost of living, and everything you need to know about New Jersey Real Estate!

This channel aims to help home sellers and home buyers navigate the world of New Jersey Real Estate. You'll get valuable tips and tricks when buying or selling a home in the New Jersey Housing Market. You'll also stay updated with the latest real estate market news and trends. This will help you make the best decision when dealing with New Jersey real estate from home buying and selling to investing.

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Corey Jones
New Jersey Living Group
Coldwell Banker
🏡 145 Maplewood Avenue Maplewood, NJ 07040
📞 (973) 564-1950
🌐 www.newjerseylivinggroup.com

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