November Existing Homes Sales & Prices Maintain Uptrend
December 26th, 2012 4:07 PM

The local real estate markets in the Garden State have opportunities for both buyers and sellers. Knowing all the facts about local real estate conditions and about New Jersey’s advantages is crucial to making the most of these opportunities.

Existing-home sales continued to improve in November with low inventory supply pressuring home prices, according to the National Association of Realtors®.

Total existing-home sales rose 5.9 percent in November from a downwardly revised October, and are 14.5 percent higher than November 2011. Sales are at the highest level since November 2009.

If you plan to sell your Cape May County Home, then you should secure a qualifiedCape May County Appraiser to conduct a thorough appraisal. Jim Hanson of James Hanson Associates is a certified Cape May County Real Estate Appraiser and can answer all your appraisal questions.

Regionally, existing-home sales in the Northeast rose 6.9 percent in November and are 14.8 percent above November 2011. The median price in the Northeast was $232,900, down 2.0 percent from a year ago.

Other News

  • Local and State Market Reports - New Jersey
  • Commercial Real Estate Vacancies Slowly Declining, Rents Rising
  • Pending Home Sales Rise in October to Highest Level in Over Five Years

  • Affordability Rates are Soaring

  • Seven-year real estate appreciation in the Garden State -- at 37% -- is five times the national average.

  • Mortgage rates are near historic lows, giving buyers a better chance to secure low payments for years to come.

  • Housing affordability – determined by home prices, income data and other factors – is high in New Jersey

Read the entire stories by clicking here Research & Statistics

For Residential and Commercial Real Estate Appraisals please contact:
James Hanson Associates
Phone: (609) 884-9185



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Posted by James M. Hanson on December 26th, 2012 4:07 PMPost a Comment

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