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The holidays are coming soon and many people are bracing themselves for a cold winter ahead. But that does not have to mean that the real estate market slows down. Well, it does slow down a little, but for the buyers and sellers that are out there, it is business as usual.
Consider
this: despite there being more buyers and more sellers in the spring – a time
traditionally known for being a “high season” for real estate – there are
indeed many people right now looking to lock in today’s amazing interest rates.
It is these serious buyers that you need to keep in mind if considering listing
your home.
Here are
some market statistics that will help to show you how sales are on the rise
anyway in the year 2012. Combine that with the fantastic upswing our
marketplace has going with the low interest rates and relatively low prices –
and you have a winning combination!
Union County Market Snapshot
Looking
at Summit, Milburn, Short Hills, Chatham, New Providence and Berkeley Heights –
we are seeing a positive change in the number of homes that went under contract
and homes that sold. From January through September in 2011, there were 748
homes that went under contract. Compare that to the same time in 2012 and the
number of 810. Similarly, the number of homes sold in 2011 during January
through September was 762 as opposed to 786 sold homes in the same time period
of 2012.
We are
sitting in a unique situation where the market is ripe for both buyers and
sellers alike. Buyers are of course enjoying record setting low interest rates
and low prices while sellers are able to quickly sell their homes and for top
dollar, given the demand right now.
Keep in
mind also that there is a lot of pent up demand now that the election is over.
Many people were waiting and watching to see what would happen, if anything,
but now that it’s all said and done – they are back to business.
If you’d
like a custom home evaluation or you want to discuss your real estate goals to
see how we can help make them a reality – I invite you to contact us today.
908-347-7798
