Real Estate Market Report: 2nd Quarter 2018 – Sussex County, NJ

The Sussex market surged again in the second quarter, with sharp increases in both sales and prices. Transactions were up over 11% from last year’s second quarter, continuing a yearlong trend that brought sales up almost 14% for the rolling year. That kind of buyer demand has winnowed down the housing supply, with the months of inventory falling over 21% from last year and now getting close to the six‑month mark that signals a seller’s market. We’re certainly moving into that territory, given the spike in pricing in the quarter: rising almost 7% on average and 8% at the median. Prices are still relatively flat for the year, but the lack of inventory and high demand will likely drive both sales and prices in a strong summer and fall market.

To learn more about Better Homes and Gardens Real Estate Rand Realty, visit their website and Facebook page, and make sure to “Like” their page. You can also follow them on Twitter, Pinterest, and Instagram.

Posted on July 24, 2018 at 1:56 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Comments are closed.