The Spring Real Estate Market

By robin March 7, 2024

THE REAL ESTATE MARKET IN NOTHERN NJ
by Fran Lichtman

As the Super Bowl approaches, we are at a point where the spring market starts in earnest.  Over the past couple of weeks as inventory dribbled on to the market, we have already seen buyers out there in droves.  Open houses have been packed almost as if we were back in the Covid days.  It appears that while buyers are obviously not thrilled with the mortgage rates, they have accepted the reality and have been recently incentivized by the slight drop in these rates.
Multiple offers are once again the name of the game. Some houses with 6 offers, another with 10 offers and yet another with 21 offers!  Some local locations have seen a significant increase in prices with new comps being created weekly.  To “get a house” in these multiple offer situations, waiving appraisals, waiving a dollar amount of home inspection issues, and other tips and tricks are all needed to be successful. 

IF YOU ARE LOOKING TO BUY OR SELL or INVEST, WE HAVE A TEAM READY TO SUPPORT YOUR EVERY NEED!  LET’S DISCUSS HOW TO HELP YOU ACHIEVE SUCCESS!