New Jersey Housing Prices
The New Jersey Star Ledger is reporting that the state's housing slump seems to be reaching its bottom. Where are they getting this information from? Yep, you guessed it, the NAR.
The Ledger article is linked above for you to read and you can read why other industry professionals have a more guarded opinion as to New Jersey's housing situation. What I think will be of interest to readers of this blog are the pricing numbers across the state.
The strongest price increase in the state was in Mercer County, where the median price rose 7.1 percent, to $283,800, followed by Atlantic City at $264,600, up 5.1 percent, and finally, the Newark-Union area, which rose 4.5 percent, to $423,700. The Newark-Union area includes Essex, Hunterdon, Morris, Sussex and Union counties.In the Edison area, which includes Middlesex, Monmouth, Ocean and Somerset counties, the median home price fell 3.4 percent, to $363,500.
I don't think that we are quite out of the woods yet in terms of house prices. It still is very much a buyer's market so if you are selling, you have to make sure you do everything you can to separate your house from its competition. For a good post on helpful selling hints take a look at what Jill (a.k.a. Kathy) has to say.
