Is A New Home on Your Holiday Wish List?

By fran-lichtman December 9, 2019

Low unemployment, strong demand and a constrained supply of housing has kept the market quite strong in this area. I know that you see a lot of real estate signs around but the truth is that there are never enough listings in the entry level prices. It has become harder and harder to buy a renovated home for anything less than $450k in these towns. This price is a stretch for many and does not feel like “entry level” prices should in their opinion. There are fewer and fewer towns that can offer choices below $400k. Bloomfield, West Orange and Union remain the towns that buyers flock to when looking for these lower priced homes. You can always see from the statistics that I provide that the “under contracts”tend to be the highest there.

As we enter the holiday period, we usually see the market flatten out a bit more with the exception of those who must move. Having said that, the holiday period between Christmas and the new year generally brings many new buyers out to preview the area and see what kind of inventory there is to offer in these local towns. Many people have a good amount of time off during that week to 10 day period so if you are planning to list your house, don’t wait for what you consider to be “the right time”. If a house is priced right and presented well, it is generally always the “right time”.


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