THE HOUSING MARKET IN NORTHERN NEW JERSEY
The last several weeks have seen a nice increase in inventory. This has been great for the buyers. It has given many of them the opportunity to have choices in terms of which house to bid on each week. Many houses are still getting multiple offers and going over the asking price.
Once again, it is down to pricing and presentation. It is not wise to price a house at the top end of the spectrum. If your neighbor got a very high price after multiple offers, it is not advisable to start your home pricing at that top number. It can backfire and cause you to receive quite a bit less than they desired.
With this increase in inventory, we also see a bit of a change in the attitude of the buyers. Given the high cost of a home purchase, some buyers become “pickier” in terms of which house to choose. They are less apt to settle for the house that is not exactly what they had in mind or one that needs a bit more work than they would be happy with. They will quickly segway to waiting to see what homes hit the market the following week.
If you are thinking about a sale, please call us to strategize.
Fran-646-734-3718 or Randy 646-734-9077