Homes Details: The average list price for a home in Sparta jumped from $464,809 to $529,695 between August 2019 and August 2020.7. Closed sales were up from May 2020, but have still not reached June 2019 levels (-21.8%). Bridgewater draws in home buyers due to its central location among major highways along with rail access and an abundance of retail and dining establishments, said agent Kevin Yento. Historically low interest rates have also contributed to the rush, as well as a tightening housing stock: inventory was down almost 40% in Bergen County in August compared to the previous year, according to New Jersey Realtors, the industry trade group. 2020 should see a continued strong trajectory for New Jersey’s real estate sector. I moved to Westfield from Brooklyn 25 years ago because Westfield was the perfect combination of urban living with a small-town vibe," said Westfield agent Jean Marie Morgan. As such, the median sales price actually increased in June 2020, by 5.3% YoY. Average Days on Market: 146. With a population of 29,881, 10,376 total housing units (homes and apartments), and a median house value of $725,890, Westfield house prices are not only among the most expensive in New Jersey, Westfield real estate also is some of the most expensive in all of America. These are the best cities in the NJ housing market 2020. The general rise is a positive sign for the health of the real estate market.Â. The relocation of New Yorkers to suburban Bergen County continues to gain strength. Clinton is just off three major highways with outdoor recreation and a quaint downtown. The Urban Land Institute’s annual look at the year ahead finds some direction within a fog of uncertainty . Whether you’re selling, buying or staying put, here are the 2021 real estate trends you need to know! $753,500. Like much of the country, the economy suffered from high unemployment rates and a shrinking GDP. Use analytics to find lucrative traditional or Airbnb properties in a matter of minutes. “If you could live anywhere in America and still have your same job, where would you choose to live? Even though buyers are ready to get back into the, With low supply and demand climbing back up, the, If you are in a good financial position, it is generally a good time to, At the same time, it’s important to keep an eye on the local economy in New Jersey. See median list price, median house size, median $/Sqft and inventory. But the pandemic has driven the market even higher, with the median sales prices in town jumping 29.5% to $975,000 from the previous September to this year, Coldwell Banker said. Here is the realty firm's list of "Top 10 Best Places to Live in New Jersey.”. Real Estate, Economics, and Politics. Although house prices in NJ are rising despite the pandemic, homes are selling for about 2% less than list price. Real Estate Trend #1: Slim Pickings for Home Buyers. The Manchester real estate market is one of the most affordable markets on this list. People get that choice now. Movoto displays information on foreclosures, short-sales, and REO (real estate owned) properties in both charts and graphs so that you can see the percentage of distressed listings in Howell. New Jersey Realtors reports that pending sales for the month of June recovered and actually exceeded those during the same time last year (+33.8%). Historic and nearly untouched Montclair NJ mansion for sale | Video, Christine Lane, the listing agent, said the fact that the Shultz House has remained virtually untouched since the 1890s is one of its strongest selling points, Multiple bids, exhausted brokers: A look at Montclair's 'crazy' pandemic housing market, Hackensack may be the 'next Hoboken' by 2021, but not everyone is happy about it, Historically low interest rates have also contributed to the rush, as well as a tightening housing stock, Prices persists as North Jersey real estate market stays hot. How can you find these cash flow properties in the NJ housing market? Some homes get multiple offers. Homes sell for about 2% below list price and go pending in around 40 days. Although the state is now in the stages of reopening with economic recovery in mind, it’s still unclear what the long-term effects of COVID-19 will be on the economy and how that will affect the NJ housing market. 2. This was despite the fact that the New Jersey governor deemed real estate an essential business. New Jersey housing market data for June 2020 shows that home sales in the city are on the rise. As such, the median sales price actually increased in June 2020, by 5.3% YoY. June 2020. Median Home Value: $116,711 1-Year Appreciation Rate: +10.4% Median Home Value (1-Year Forecast):-1.4% Median Rent Price: $1,400 Price-To-Rent Ratio: 6.94 Unemployment Rate: 24.0% (latest estimate by the Bureau Of Labor Statistics). The Jersey Shore area is seeing an inflow of New York City buyers. 2. SOLD DEC 15, 2020. Details: The real estate market has been booming in southern arizona and housing experts see positive trends in the tucson housing market 2020. Percentage of Listing Price: 96.47%. that pending sales for the month of June recovered and actually exceeded those during the same time last year (+33.8%). By Patrick Sisson Sep 19, 2019, 9:43am EDT A market as large and dynamic as United States real estate rarely moves quickly. With low supply and demand climbing back up, the NJ housing market 2020 is naturally a very hot seller’s market. There are lines at open houses and almost every car on the street has a New York license plate,” said Montclair agent Jocelyn Russo. New Jersey Realtors says this is a trend seen across the country. Sylvia is the Content Marketing Manager at Mashvisor. New jersey real estate real estate agent photos america and australia logo design. The housing market won't crash. Such towns are desirable due to the easy commute to Manhattan, said agent Josh Baris. “What we’re selling here in Sparta and Lake Mohawk is a lifestyle,” said agent Denny Kevil. Mainstays like Montclair and Madison remain on the list, but farther-afield locales like Sparta in Sussex County, with its private lake communities and the Clintons, gateway to the Hunterdon County countryside, are seeing renewed interest. New listings also continued to climb in June 2020 from the severe drop suffered in April. Large yards are a plus, but also walkable downtowns like those in Madison and Wyckoff. Hoboken Housing Market Trends. North Jersey real estate is moving way up in the rankings, according to predictions by industry insiders, who said the coronavirus accelerated current trends. They’re coming in droves. Population: 37,743 (latest estimate by the U.S. Census Bureau). Homes in the Clintons spent an average 54 days on the market in August compared to 76 days a year prior. Shipments of the second coronavirus vaccine approved by health regulators are set to arrive in states Monday, … As long as you find cash flowing NJ income properties, then this will be a smart move. What Kind of Airbnb Occupancy Rate Can You Expect? Takeaway: Expect a substantial increase in the global investable real estate universe, most notably in emerging economies. And that’s a very unique situation that we haven’t seen before.”. The Best Real Estate Investments During the Spread of the Coronavirus. In my view, the state’s secret weapons will, once again, be predicated upon its geographic nexus to New York. Listings remain low as many sellers still fear COVID-19, especially as local and national cases are back on the rise. Redfin Compete Score ™ 0. Long Beach Island Real Estate, Coronavirus and the Ups and Downs of the Market Click here to search all homes for sale in the Long Beach Island NJ real estate market Long Beach Island Real Estate Market Trends and COVID Real estate on LBI, coronavirus, a national election…2020 has been a year like nonother, ad READ MORE At the same time, it’s important to keep an eye on the local economy in New Jersey. The pandemic real estate market continues to sizzle in North Jersey as buyers seek to move to suburbs from crowded urban spaces. 2020 Trends Shaping the Future of Real Estate 1) Expansion in Cities. Real estate markets are an important indicator of what the future economy will be. New Jersey market trends and housing statistics. Although sellers feared that they would soon see home prices dropping, many pulled listings or postponed sales for fear of having anyone enter their homes for sale. With Mashvisor’s real estate investment tools. Breaking news across all residential real estate markets in America and updates on the health of the economy as it pertains to real estate. Find a Profitable Traditional Rental Property. With low supply and demand climbing back up, the NJ housing market 2020 is naturally a very hot seller’s market. The average list price for a home in Sparta jumped from $464,809 to $529,695 between August 2019 and August 2020. Although house prices in NJ are rising despite the pandemic, homes are selling for about 2% less than list price. Why Consider Buying an Investment Property in the Austin Real Estate Market? Coldwell Banker Realty polled local real estate agents and found towns offering large houses with room for home offices and big backyards in demand, according to results released last month. “I’ve never seen it like this before, ever. Condominiums. These NJ real estate market trends were ones seen across the US in early spring.Â. Skip to content . Princeton’s current influx of buyers are generally from Manhattan, Brooklyn and Jersey City. Beds. Like much of the country, the economy suffered from, For one, NJ real estate investors who have bought and held onto properties have historically enjoyed, Homeownership in New Jersey is dropping, contributing to increasing rental demand. The Official Magazine for the National Association of REALTORS®, covering real estate trends, real estate news and data. National Housing Forecast 2020: Housing markets search for new balance – Home price … Staff writer Jenna Intersimone contributed to this report. With 8,765 people, 4,127 houses or apartments, and a median cost of homes of $393,733, real estate costs in Brigantine are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities. But as the state has now managed to flatten the curve to some extent, how is the NJ housing market 2020 doing? COVID-19 has changed the fate of the suburban sprawl. Search for affordable NJ investment properties for sale in this market (or the market of your choice) now. With its train access to Manhattan, the Essex County town has always been in high demand. New listings jumped by 53.8% in August year-over-year. These are still uncertain times. Here, we present to you the latest real estate trends for 2019 including research results that have many pundits remaining confident of the real estate market. North Jersey counties reported double-digit increases in home sales, ranging from 18% in Passaic County to 51% in Bergen. NeighborhoodScout reports NJ properties have increased in value by 98% since Q1 2000. Sales in June 2020 were as follows: Single Family Homes. You'll also understand why the decline of home price increases and the rise in mortgage interest rates that marked 2018 are seen to result in changes in the US real estate market, particularly for homebuyers. 100. What next? NJ real estate market is heating up in these 10 towns due . Madison’s downtown, train access and proximity to highways are among the town’s amenities, said agent Scott Spelker. For one, NJ real estate investors who have bought and held onto properties have historically enjoyed real estate appreciation. From New York City and along the Hudson River in New Jersey, … To get unlimited access to the latest news out of North Jersey, please subscribe or activate your digital account today. Related: Should We Expect a US Housing Market Crash 2020 Due to the Pandemic? Somewhat Competitive . If you know where to invest in real estate in New Jersey, you could enjoy, NJ income properties, then this will be a smart move. Here are the top real estate trends and predictions for 2020 & 2021. Pending sales in July and August were more than 30% over the previous year. Westfield saw a 97.1% increase in new listings in August 2020 over 2019, and a 58.3% rise in sales. How will the housing market shake out in our current economic climate? This market is divided into residential and commercial. Your California Privacy Rights/Privacy Policy. What’s the Best Airbnb Analytics Platform for 2019? That's produced a list of top housing markets no longer dominated by towns with easy commutes to New York or proximity to corporate headquarters. Is Now a Good Time to Invest in Real Estate? New Jersey Realtors says this is a trend seen across the country. In addition to information on the average price of northern New Jersey residentail real estate listings, you'll also find info on the average days on market, the average price reduction, average price of homes by bedroom, and more. Offering 11 private lake communities and the historic Lake Mohawk boardwalk and plaza, Sparta provides the charm of resort living just 45 miles from Manhattan in Sussex County. Average Percentage of Listing Price: 94.64%. Airbnb Profit Margin: How Much Money Can I Make. “It’s no surprise we are having an influx of buyers coming from urban areas. “I am definitely seeing more New York buyers now than I have ever seen,” said Wyckoff agent Lynn Brescia. The countdown to 2020 is officially on! We’re taking a look back at some interesting patterns from 2019 and discussing our top picks for real estate trends to look out for next year. Still, the supply of homes for sale remains 41.0% lower than it was in June 2019. As we head into 2020, there is opportunity and caution driving Europe’s real estate industry with a focus on cities that offer liquidity and connectivity. As a real estate writer, she has been covering topics for the beginner and advanced real estate investor, helping them make smarter decisions as well as real estate agents looking to take their business to the next level. Middletown is one of the best cities for rental income in the NJ housing market for 2020.Â. Here is Mashvisor’s NJ housing market data for June 2020: Related: Is Now a Good Time to Invest in Real Estate? Okay, this is probably the hardest real estate trend to swallow—so brace yourself: Inventory has been incredibly low! 1300 GRAND St #517 Hoboken, NJ 07030. “Homes with that type of feeling are moving quicker,” he said. Madison. Click here to find top-performing properties in New Jersey. That's why NJ REALTORS ® has partnered with the MLSs in our state to compile the best, most comprehensive data available about the New Jersey housing market, powered by 10K Research & Marketing. Closter saw a whopping 185.7% increase in home sales this year. Between August 2019 and August 2020, the average sales price jumped from $425,000 to $525,000 in the suburban town, which is about 15 miles from New Jersey beaches and 45 miles from New York City. Millennials And The Real Estate Market: 5 Trends To Watch - Maplewood, NJ - Millennials are tech-savvy, educated young professionals and operate … For subscribers: Why can't this $39,000 Fort Lee penthouse with riverfront view of Manhattan find a buyer? 49 Sold Average Price: $1,197,867. COVID-19 is a wild card and although it may cause values to drop in the immediate future, history shows us the NJ real estate values are resilient and can rebound. Texas Real Estate Market 2018 Steals 7/15 Spots in New Study for Top Markets. If you know where to invest in real estate in New Jersey, you could enjoy positive cash flow and a high occupancy rate. C19 Open Discussion Week 42. From WaPo: Moderna vaccine shipments set to arrive in states on Monday, Operation Warp Speed logistics chief says. Between August 2019 and August 2020, the average sales price jumped from … Wyckoff is a peaceful suburb with a top-notch school district and a vivacious community, said agent Will Alfaro. Mary Chao covers the Asian community, real estate and small business for NorthJersey.com. Howell, New Jersey real estate market statistics are calculated by Movoto every day from various sources so that you can stay up-to-date with trends in the Howell homes for sale market. Source: www.irr.com. “I do believe that’s why you start to see anomalies like towns such as Clinton and Sparta moving at a faster pace right now than towns such as Hoboken and Jersey City.”. Atlantic City Real Estate Market 2020 Overview. Recently Sold Listings in Hoboken. Related: The Best Real Estate Investments During the Spread of the Coronavirus. As of mid-year 2020, the region’s industrial, retail and office markets have remained relatively flat, according to Colliers International‘s 2020 Mid-Year Industrial, Office and Retail for the Greater Philadelphia region, which includes South Jersey.. Industrial. The real estate market on Long Beach Island is on fire. Michigan Real Estate Market 2018: Can You Make Money Investing Here? Union County has seen a large migration from New York City. Home prices will rise by 5 to 6% in 2021. Posted on December 19, 2020 by grim. Below you'll find statistics on the northern New Jersey residential real estate market, updated every day from the Garden State MLS. Members get daily listing updates. They are both critical to … How can you find these cash flow properties in the. The 10 trends that will shape real estate in 2020. Log In Sign Up. With proximity to the office becoming less critical for many workers, rural Hunterdon County — more than 50 miles west of New York City — has become a popular destination for home buyers, Coldwell Banker said. However, it is a good time to invest in an NJ rental property. Local buyers were hesitant to make a move, as they waited to see how the pandemic would affect the local and national economy as well as New Jersey house prices. Existing Home Sales Up 21% in June Amid... How to Calculate the Rate of Return on a Rental Property. Opinion: COVID-19 has changed the fate of the suburban sprawl. Knowing what's happening in the real estate market is a key factor in a successful transaction, whether you're the buyer, seller, or REALTOR ®. Closed sales were up from May 2020, but have still not reached June 2019 levels (-21.8%). Stay up to date with the latest tips for Traditional & Airbnb Investments, Earlier this year, Mashvisor reported on the, effect of the coronavirus on the New Jersey real estate market. If you are in a good financial position, it is generally a good time to invest in NJ real estate. The Jersey Shore area is seeing an inflow of New York City buyers. Even though buyers are ready to get back into the NJ housing market due to low mortgage rates and an ease in COVID-19 restrictions, some sellers don’t share the sentiment. This suburban hub in Somerset County saw a 40% increase in homes with pending sales in August compared to the previous year. For subscribers: Multiple bids, exhausted brokers: A look at Montclair's 'crazy' pandemic housing market, Up-and-coming: Hackensack may be the 'next Hoboken' by 2021, but not everyone is happy about it, “Rather than picking a town because it’s 10 miles from their office, people are picking a town because it affords them the quality of life they’re wishing for their family,” said Rob Norman, Coldwell Banker's president for New Jersey and Rockland County, New York. According to our initial real estate market analysis, it was clear that COVID-19 was slowing down the NJ housing market. What next? Properties with room for offices and home-schooling have become more attractive. The Bergen County township saw closed sales this September double over the previous September. If the governor’s incentive program passes, there should be increased demand for, among other projects, entertainment studio space and tech hubs. Emerging Trends in Real Estate, Europe 2020 has ranked the real estate markets in major European cities according to their overall investment and development prospects. See house prices and market trends in Morris County, NJ. Frankly, it is a level of activity that knows no recent precedent! Hot Homes can sell for around list price and go pending in around 17 days. While some housing market predictions see New Jersey home values dropping from now through the beginning of 2021, it’s not by very much – 2.1% drop according to Zillow.Â. 7 Sold Price: $890,000. Brigantine Housing Market Information. People who are wondering when they'll be able to go on another vacation are looking for houses that can offer a "staycation" destination next to lakes, Norman said. Should We Expect a US Housing Market Crash 2020 Due to the Pandemic? North Jersey claimed five of the top 10 markets listed by Coldwell's agents, including Wyckoff and Closter in Bergen County, Madison in Morris County, Sparta in Sussex County and Montclair in Essex County. Whether you’re looking to sell or buy a home this year, it’s important to look at your local real estate market in addition to national trends as predictions can vary from area to area.. At the end of the day, no one really knows how things will work out with home prices, interest rates, and inventory but here’s what we’re keeping our eyes on in the housing market as 2020 progresses: Buying property in New Jersey could be a good idea for those who are in a good financial situation, despite COVID-19. And the shift to remote learning and working means some less usual suspects have joined the list of hot markets. Earlier this year, Mashvisor reported on the effect of the coronavirus on the New Jersey real estate market. New York Real Estate Market 2020: Statewide Trends (Summary) Now let's take a look at the statewide data of the New York real estate market that includes single-family properties, townhomes, and condominiums. Source: rltor.cm. Commercial real estate properties for sale or lease in new jersey. Once 2020 hits, investable real estate will have expanded by more than 55 percent since 2012. The months of supply sits at 3.6. 'COVID premium': Prices persists as North Jersey real estate market stays hot. Princeton is a diverse community largely influenced by education and culture, said agent Heidi Hartmann. In August, pending deals more than tripled, rising 222% over the previous year, the real estate agency said. Of course, some parts of the NJ housing market are faring better than others. Orlando Real Estate Investing: Choose from These Neighborhoods, Houston Real Estate Market 2020: Why and Where to Invest, Ski Destinations: The Best Places to Buy Vacation Rental Property, The 10 Cities with the Highest Rental Rates, 4 Top Housing Markets 2018 – US Housing Market, Where to Invest in the Raleigh Real Estate Market in 2019, Why a Portland Investment Property is a Great Choice in 2017, 5 Reasons Why Chicago is a Top Airbnb City, Home Prices Fell During COVID-19 in These Cities, Airbnb Occupancy Rate Up 13% as Market Recovers. The garden state, home ... nj real estate market What does the housing market forecast look like for the rest of the year? Deloitte's Real Estate Industry predictions, developed by Deloitte Netherlands, discusses the Real Estate trends for 2020 that will impact your business. Read about the effect of climate change on real estate, campus development, diversity & inclusion, and many more. Westfield Housing Market Information. In terms of rental property performance, these are the 6 best cities in New Jersey where you can get the highest rate of return. Here are a few reasons why: Low supply and high demand mean that a housing market crash is very unlikely. Shows that home sales up 21 % in August 2020 over 2019, and number of competing offers sales September! The First half of the country, it is a positive sign for health. According to our initial real estate market 2018: can you find these flow... In 2020 are moving quicker, ” he said that type of feeling are moving,.: is now a good financial position, it was in June 2020 by! Can you Expect no surprise we are having an influx of buyers from New York buyers now I. Subscribe or activate your digital account today towns are desirable Due to the pandemic, homes are for!, NJ real estate will have expanded by more than 55 percent since 2012 trends you need to!... 'Ll find statistics on the rise Sparta jumped from $ 464,809 to $ 529,695 August... Seeing an inflow of New York City buyers to real estate trends and for., once again, be predicated upon its geographic nexus to New York City estate agents are reporting surge! A shrinking GDP were up from May 2020, by 5.3 % YoY size, median $ /Sqft and.. Early spring. by education and culture, said agent Scott Spelker could be a smart move to New! Study for Top markets township saw closed sales were up from May 2020, 5.3! On Long Beach Island is on fire sales have not completely recovered in the Austin real estate you! Traditional or Airbnb properties in New Jersey a level of activity that no! The housing market 2020 estate agent photos America and updates on the.. Indicator of what the future of real estate investors who have bought and onto. % lower than it was clear that COVID-19 was slowing down the NJ market... Data for June 2020 from the severe drop suffered in April Shore area is an... Jersey residential real estate appreciation cities for rental income in the market Jersey could be a good idea for who..., Brooklyn and Jersey City a quaint downtown “ what we ’ re selling here Sparta! Up from May 2020, but have still not reached June 2019 choose live! Investable real estate in high demand mean that a housing market County, NJ real market. Garden state MLS how much Money can I Make for 2020. average sale price, $! Of course, some parts of the Coronavirus keep an eye on the rise as buyers seek to move suburbs! The curve to some extent, how is the realty firm 's of. Incredibly low New Jersey. ” the New York City buyers it’s clear that was. 2 % below list price for a home in Sparta jumped from $ 464,809 to $ 529,695 between 2019! Substantial increase in New Jersey real estate market, updated every day from the state. And held onto properties have increased in value by 98 % since Q1.! To remote learning and working means some less usual suspects have joined the list of hot markets the town s! Especially as local and National cases are back on the rise it’s clear that buyers are back the... “ I ’ ve never seen it like this before, ever surge of buyers are generally from Manhattan Brooklyn. The Asian community, said agent Scott Spelker among the town ’ s the Best Airbnb analytics Platform 2019. Community largely influenced by education and culture, said agent Denny Kevil upon its geographic nexus to New York buyers. Buying property in the NJ housing market 2020 doing market, updated every day from the Garden state MLS around. Nj rental property annual look at the same throughout the First half of the Best real estate ’. 19, 2019, and a high occupancy Rate can you find these cash flow and a shrinking.... ’ re selling, buying or staying put, here are the Best cities for rental income in the real. In home sales this year, Mashvisor reported on the northern New Jersey housing. Between August 2019 and August 2020 over 2019, and number of offers! Jersey, please subscribe or activate your digital account today time, it’s important to an. Slowing down the NJ housing market data for June 2020 from the severe drop suffered in April moving... Were more than tripled, rising 222 % over the previous year that home sales this year, Colliers.. Your choice ) now top-notch school nj real estate market trends 2020 and a 58.3 % rise in sales than %! Frankly, it is a trend seen across the country sale in this market ( or the market your. 1: Slim Pickings for home buyers year prior see house prices in NJ are despite. Agent will Alfaro market ( or the market of your choice ) now will be a good idea those. Airbnb properties in the New York City buyers are reporting a surge of buyers are generally from Manhattan, agent! In August year-over-year: can you find these cash flow and a high occupancy Rate can find. A very unique situation that we haven ’ t seen before. ” such, the median price... Cities in the New York City and Wyckoff in cities levels ( -21.8 % ) Consider buying an property. Supply and demand climbing back up, the median sales price actually increased in June 2020 from the Garden MLS. N'T this $ 39,000 Fort Lee penthouse with riverfront view of Manhattan find a buyer a reasons. -21.8 % ) on real estate real estate agents are reporting a surge of buyers from New York market... Best real estate market on Long Beach Island is on fire, NJ 07030 Wyckoff Lynn... Digital account today Study for Top markets trends you need to know staying... Estate agent photos America and updates on the local economy in New Jersey dropping... Hits, investable real estate appreciation Clintons spent an average 54 days the! News across all residential real estate trend to swallow—so brace yourself: inventory has been incredibly low trends... Can you find cash flowing NJ income nj real estate market trends 2020, then this will be a good time to in. Estate rarely moves quickly below list price and go pending in around days! Warp Speed logistics chief says 18 % in Bergen market shake out in our current economic climate around... Airbnb occupancy Rate unlimited access to the pandemic, homes are selling for about 2 % less than list.... Manchester real estate trend to swallow—so brace yourself: inventory has been incredibly low of find! That type of feeling are moving quicker, ” he said for subscribers: why ca n't this 39,000. As buyers seek to move to suburbs from crowded urban spaces room offices. Incredibly low 2020 Monthly housing market are faring better than others this will be not... Important to keep an eye on the rise agents are reporting a surge of buyers coming from urban areas working! % over the previous year here are the Best real estate migration from York... Said Wyckoff agent Lynn Brescia prices persists as North Jersey counties reported double-digit increases in home sales have not recovered. Jersey residential real estate agent photos America and australia logo design need to!. Off three major highways with outdoor recreation and a vivacious community, real markets!, Operation Warp Speed logistics chief says trends Shaping the future of real estate markets are an indicator! Sparta jumped from $ 464,809 to $ 529,695 between August 2019 and August were more 30... That pending sales in July and August were more than 30 % over the previous year high... America and updates on the northern New Jersey 464,809 to $ 529,695 between August 2019 and August were more 55. Moderna vaccine shipments set to arrive in states on Monday, Operation Warp logistics. Was in June Amid... how to Calculate the Rate of Return a... Traditional or Airbnb properties in New Jersey could be a good time to invest in an NJ rental.. Commute to Manhattan, the Essex County town has always been in high demand mean that a housing.... Education and culture, said agent will Alfaro said Wyckoff agent Lynn.! To real estate trend # 1: Slim Pickings for home buyers reported on rise... Live anywhere in America and australia logo design news out of North Jersey as buyers seek move..., pending deals more than tripled, rising 222 % over the nj real estate market trends 2020 year, the Essex County has. Market forecast look like for the health of the year, Colliers said are rising despite the fact the... Community, said agent will Alfaro where to invest in NJ are rising despite the pandemic downtown! Earlier this year trends were ones seen across the country First half of Coronavirus..., this is a peaceful suburb with a top-notch school district and a vivacious,! S annual look at the same time last year ( +33.8 % ) estate an business... District and a high occupancy Rate can you find these cash flow properties in New housing... Counties reported double-digit increases in home sales, ranging from 18 % in June 2020 shows that home up!: inventory has been incredibly low reports NJ properties have historically enjoyed estate!, price per square foot, and a 58.3 % rise in sales health of the.... Seeing an inflow of New York housing market Crash 2020 Due to the latest news out of Jersey! The Garden state MLS New Yorkers to suburban Bergen County township saw closed sales this year, the NJ market. Is one of the Best Airbnb analytics Platform for 2019 downtown, train to... From Manhattan, Brooklyn and Jersey City you need to know shift to learning! It’S important to keep an eye on the New Jersey Realtors says this a.