The Rand NewsReal

  The Passaic County seller’s market continued through the fourth quarter of 2019, finishing the year with a flourish. Prices keep going up, with the average price rising almost 8% for the quarter and over 4% for the rolling year, and the median price up almost 7% for the quarter and 4% for the year. Indeed, Passaic pricing is at its highest levels since the height of the seller’s market in the 2005-06 era. And while relatively low levels of […]

  The Bergen County housing market finished the year with a solid increase in activity and modest rise in pricing. Single-family home sales were up over 4% from the fourth quarter of last year and finished the 2019 year up almost 3%. Moreover, single-family pricing was generally up, rising over 3% on average and 1% at the median for the quarter, and finishing the 2019 year up modestly. The condo market was more mixed, with prices down even while sales […]

  The Bergen County housing market cruised through the third quarter of 2019, with increases in both sales and prices. Single‑family home sales were up almost 5%, and are now positive for the rolling year. And prices were up, rising 1.5% on average even though flat at the median. We believe that the market is being hampered by both a lack of viable inventory and the 2018 Tax Reform cap on state and local tax deductions (the “SALT Cap”), which […]

  The Northern New Jersey housing market experienced modest but meaningful price appreciation through the third quarter of 2019, even while sales growth was stifled by a lack of inventory and the impact of the 2018 Tax Reform cap on state and local tax deductions (i.e., the “SALT Cap”). Going forward, we believe that strong housing fundamentals will continue to drive appreciation and eventually more sales through the fourth quarter and into 2020. Regional sales were down just a tick, […]

  The Passaic County seller’s market continued through the third quarter of 2019, with limited inventory driving strong price appreciation even while it held back sales growth. Prices keep going up, with the average price rising almost 5% for the quarter and over 4% for the rolling year. And while relatively low levels of inventory are still stifling sales growth, causing a 3% decline in transactions this quarter, that inventory is starting to creep up as homeowners are getting tempted […]

  The Morris County housing market surged forward in the third quarter of 2019, with prices rising sharply even while limited inventory stifled sales growth. Prices experienced their biggest quarterly jump in over two years, rising almost 4% on average and 5% at the median compared to the third quarter of last year. For the rolling year, prices were up more modestly, reflecting how pricing has been a little more lackluster through most of 2019. Meanwhile, though, sales are down, […]

  Sales in the Essex housing market went up yet again in the third quarter of 2019, even while prices leveled off after some modest increases earlier in the year. Sales rose almost 3% for the quarter, and finished the rolling year up almost 5%. But this continued increase in sales is not yet having a sustained impact on pricing, which was flat on average and down almost 3% at the median compared to the third quarter of last year. […]

  The Sussex County housing market showed significant signs of strength in the third quarter of 2019, with modest sales increases coupled with sharp price appreciation. Sales were up almost 2%, a welcome change from the past two quarters. Even with that quarterly increase, though, sales are still down over 8% for the rolling year. But the real story is pricing, which was up across the board: rising almost 3% on average and 8% at the median for the quarter, […]

  After sizzling throughout much of 2018, the Hudson County housing market continued its 2019 struggles through the third quarter. Sales were down almost 6% overall from last year’s third quarter, and are now down 6% for the rolling year. But even with this decline in sales, prices still appreciated modestly: average prices were up about 1% overall, rising almost 5% for single‑family homes and 7% for multi‑families, even while falling 2% for condos. We are clearly seeing some impact […]

  Pricing in the Bronx housing market surged again in the third quarter of 2019, as robust demand continued to push prices up even while a lack of inventory held sales down. Going forward, we believe that the fundamentals are strong, and expect a robust market through the winter and into 2020. Pricing. Overall pricing was up over 6% compared to the third quarter of last year, and up for most property types: rising almost 10% for single‑family homes, 5% […]