Fourth Quarter 2018: Real Estate Market Report – Hudson County, NJ

The Hudson housing market surged yet again in the fourth quarter, with prices rising across the board. Overall sales for the county were down almost 11% from last year’s fourth quarter, with both multi‑family and condo sales falling sharply due to the lack of inventory available on the market. Indeed, for the 2018 year, sales were down 5% overall, falling 9% for multi‑families and 6% for condos, with single‑family homes being the only property type to see an increase, at 5%. But the drop in sales does not indicate a lack of demand, with prices up across the board: quarterly prices were up 14% for single‑family homes, 2% for multi‑families, and almost 7% for condos. And for the year, we’re seeing pretty dramatic price appreciation: single‑family homes up 12%, multi‑families up 12%, and condos up 7%. Going forward, we expect this to continue through a robust winter and spring market, as demand for housing in Hudson remains strong.

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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 3:28 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

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

Pricing in the Sussex market surged yet again in the fourth quarter, even while falling inventory held sales down. Transactions were down sharply, falling almost 12% for the quarter, but finishing the year up almost 2%. But the drop in sales clearly did not indicate a lack of demand, with prices spiking across the board: up 6% on average and 13% at the median for the quarter, and finishing the 2018 year up 5% on average and 6% at the median. More importantly, inventory has finally come down to manageable levels, down to the six‑month level that usually denotes a seller’s market. Going forward, we expect continued strength in sales, coupled with meaningful price appreciation through a strong 2019.

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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 2:56 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Fourth Quarter 2018: Real Estate Market Report – Essex County, NJ

Sales in the Essex housing market went up again in the fourth quarter, but this increase in buyer demand had a middling effect on pricing. Sales rose almost 4% for the quarter, and finished the year up over 2%. But pricing was mixed: for the quarter, the average price was down over 4%, even while the median was up a tick. We saw the same thing for the full‑year results, with the average down slightly and the median up about 2%. The negotiability indicators, though, continue to support the idea that we’re in a seller’s market: homes are selling more quickly, and for very close to the asking price. And inventory continues to stay well below the six‑month level that usually denotes a seller’s market. Going forward, we do believe that prices have room for growth, and that rising prices will eventually attract more sellers, and more inventory, into the 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 2:27 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Fourth-Quarter 2018: Real Estate Market Report – Morris County, NJ

The Morris housing market finished the year with a welcome burst of price appreciation, the result of low levels of inventory, coupled with strong buyer demand. After a surprising pricing decline in the third quarter, prices came back in the fourth, rising almost 3% on average and 5% at the median. That helped Morris close the year (barely) in the black, with the average and median both up just a tick. Inventory continued to stay well below the six‑month level, though, which is holding back sales: transactions were down 6% for the quarter, and finished the year down about 1%. Going forward, we do believe that prices have room for growth, and that rising prices will eventually attract more sellers, and more inventory, into the 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 12:58 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Fourth-Quarter 2018: Real Estate Market Report – Passaic County, NJ

Pricing in the Passaic housing market surged in the fourth quarter, closing a robust year in which low levels of inventory suppressed sales, even while driving prices up. Inventory is still falling, dropping over 23% from last year and now down below the six‑month level that usually denotes a seller’s market. And we’re seeing that in the pricing trends, with prices up 6% on average and 7% for the quarter, finishing the full 2018 year up 5% on average and at the median. The lack of inventory is still, though, holding back sales, which fell 7% for the quarter and ended the 2018 year down almost 2%. Going forward, we expect that sales will only go up when these rising prices tempt more homeowners into the market, and that we will continue to see price appreciation through a robust winter and spring 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 12:30 pm
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Fourth-Quarter 2018: Real Estate Market Report – Bergen County, NJ

The Bergen housing market saw meaningful price appreciation in the fourth quarter, even while a lack of inventory continued to stifle sales growth. Sales were mixed, with single‑family homes down 4%, even while condos were up 3%. For the full 2018 year, sales in both houses and condos were down slightly, the result of constricted inventory levels that are now well below five months. But restricted supply, coupled with strong demand, is having its expected impact on pricing: quarterly single‑family home prices rose over 3% on average and 6% at the median, and condo prices spiked 15% on average and 8% at the median. And for the year, we’ve seen meaningful price appreciation in Bergen, with single‑family homes up 1% on average and 3% at the median, and condos up almost 8% on average and 6% at the median.
Going forward, we believe that these rising prices will eventually attract more sellers into the market, which will moderate the inventory problems and drive both sales and prices up in the spring 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 11:59 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , ,

Fourth-Quarter 2018: Real Estate Market Report – Northern New Jersey

Pricing in the housing market in the Northern New Jersey suburbs of New York City continued to appreciate in the fourth quarter of 2018, even while low levels of inventory suppressed sales growth throughout the region.

The regional market continues to suffer from a lack of supply. The number of homes available has settled at levels that generally signal a seller’s market, with fewer than six months of inventory in most of the Northern New Jersey markets. The lack of inventory has been stifling sales growth because the market lacks “fuel for the fire” to meet the existing buyer demand, even while driving meaningful price appreciation throughout the region.

Because of the lack of inventory, sales were down sharply. For the region, sales were down almost 5% in the quarter, falling in almost all of the counties: down 4% in Bergen, 11% in Hudson, 7% in Passaic, 6% in Morris, and 12% in Sussex. Sales were only up in Sussex and for Bergen condos. And for the 2018 year, sales were down about 1%, and down in most of the counties. That said, sales are now at levels we haven’t seen since the seller’s market of the mid‑2000s, and almost double in many places from the bottom of the market following the correction of 2008‑09.

But these low levels of inventory are also driving meaningful price appreciation. Prices rose sharply for the region, rising almost 5% for the quarter and up in most of the counties: rising 3% in Bergen, 6% in Hudson, 6% in Passaic, 3% in Morris, and 6% in Sussex (down only in Essex). For the year, we saw meaningful price appreciation throughout the region, with the regional price up almost 3%.

Going forward, we expect the seller’s market to continue. With good economic conditions, low interest rates, and attractive pricing, we expect that the Northern New Jersey market will continue to see meaningful price appreciation. This will eventually attract more sellers into the market, perhaps in time to help drive sales growth in the spring 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 TwitterPinterest, and Instagram.

Posted on January 22, 2019 at 11:29 am
Vincent Abbatecola | Category: Quarter Market Report, Rand Country Blog | Tagged , , , , , , , , , ,

Better Homes and Gardens Rand Realty Welcomes Sharon Burke to its Pearl River, NY and Closter, NJ Offices

Better Homes and Gardens Rand Realty announced that Sharon Burke, a top producer in Rockland County, NY and Northern NJ, has joined its Pearl River and Closter, NJ offices.

Sharon, who has risen to achieve great successes in the last three years since transitioning from her work as a Senior Analyst of Performance Assurance & Compliance at Verizon Wireless, is known for helping both buyers and sellers reach their goals. In her previous position at Verizon Wireless, she identified and addressed risks in the Customer Care, Retail & Enterprise Channels. She has also held executive positions at NYNEX Mobile as Manager of Customer Acquisition Advertising, and at Jordan, McGrath, Case & Taylor Advertising as a Management Supervisor.

Sharon says that taking the time to get to know each client has been the key to her success. “Knowing that each transaction is different and requires its own understanding and approach, is what makes this job so interesting and exciting. I thrive on understanding first and then determining the best way to move forward,” she said.

 “We’re so happy to have Sharon join our team. She brings with her a great deal of knowledge from the corporate world, which has helped to propel her to success in negotiating and securing deals,” said Sharon Tucker, Pearl River Branch Manager.
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 TwitterPinterest, and Instagram.
Posted on December 5, 2018 at 10:33 am
Vincent Abbatecola | Category: In the News, Rand Country Blog | Tagged , , , , , , , , , ,

Better Homes and Gardens Rand Realty – Hoboken Celebrates a Successful First Year

Congratulations to the Better Homes and Gardens Rand Realty Hoboken team, who just celebrated their First Anniversary.

“The Hoboken office has been a great addition to the Better Homes and Gardens Rand Realty family, with many great achievements and record growth over this past year,” said Hoboken Branch Manager Mary Knapp. “Our office holds true to the core values of Better Homes and Gardens Rand Realty: to provide the best service and create lasting relationships with our customers, our community and our agents.”

“We are committed to growing our team while maintaining our dedication, impeccable ethics and values. We vow to always BE Better,” she added.

She says that what makes her office different is that, “Our office is truly invested in our community. This October we had our Fifth Annual Making Strides Against Breast Cancer fundraiser. I’m proud to announce that we raised over $25,000 for the American Cancer Society. This is one of our favorite events because it brings together the Hoboken community in the fight against breast cancer.”

This year, Mary was named one of the Hudson County Women’s History Month honorees for “women who fight against discrimination.” This award acknowledges the courage, efforts and strength of women who work to fight against all forms of discrimination.

Featuring beautiful properties, a thriving economy, an urban feel and close proximity to New York City, Mary and her team are committed to Hoboken and the expansion of the Better Homes and Gardens Rand Realty Hoboken office there.

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 TwitterPinterest, and Instagram.

Posted on November 30, 2018 at 4:06 pm
Vincent Abbatecola | Category: Rand Country Blog | Tagged , , ,

Better Homes and Gardens Rand Realty-Morristown Celebrates Successful First Year, Expanding from 5 to 35 Agents!

Congratulations to Morristown Branch Manager Keith Kirkwood and all the talented agents in our new Morristown office on their 1st Birthday! The Morristown office just celebrated its First Anniversary with a big office party for agents, management, owners, affiliates, friends and family. The Morristown office started out as a team of five and now, just one year later, has a team of 35 (with more eagerly waiting to join)!

2018 has been a huge year of growth for the office as it continues to exceed goals. We spoke with Branch Manager Keith Kirkwood to find out more about what makes his office different.

“My previous experience in real estate was very much an agent-centric culture. It was not the most supportive environment to be in. I was fortunate enough to become very successful as an agent, but I could see the struggles that particularly new agents were facing. I knew there had to be a better way.”

He explains: “I wanted to see if we could take the ego out of the process and focus on agent development and client servicing. I also knew that it was important to have an environment where team members felt valued and valuable, and where it was OK to fail – but “fail forward.”. At Better Homes and Gardens Rand Realty, agents feel as though they are part of a team and everyone celebrates each other’s wins, regardless of what they are,” Keith said.

All of our Better Homes and Gardens Rand Realty offices emphasize community spirit and participation – and Morristown is no different! The Morristown office has joined the Morristown Partnership and are regulars at the Sunday Famers Market. This month, the office was involved in the Morristown Fall Festival that packed over 60,000 attendees.

Morristown has been described as a “great place to work, live and play” with its urban lifestyle, bars and restaurants, along with its vibrant arts and theater scene. And, it has a prime location with easy access to NYC transit. Combined with a sense of tranquility, beautiful landscapes and outdoor living, Morristown truly is a unique place to call home.

And, our Morristown branch office indeed matches the culture of our town!

“There is a great energy that permeates the office, which has resulted in a hardworking, positive environment,” says Keith. “I am so proud of the people who have chosen to come along with me on this adventure. They have placed their trust in me and I treasure that so much. My big ‘why’ now is to help them achieve whatever it is they hope to achieve in their business, while holding them to the highest standards of practice in the field.”

Posted on October 29, 2018 at 4:20 pm
Vincent Abbatecola | Category: Rand Country Blog | Tagged , , , , , ,