Union & Essex County Sales

Union County   Single Family Homes for March Key Metrics   2019   2020   Change New Listings  712      540    – 24.2% Closed Sales 365      307    – 15.9% DOM*              57        60     + 5.3% Median PX $350K  $378K   + 8.0% % of PX      98.9%   99.2%  + 0.3%...

March Morris and Middlesex Sales

Morris County Single Family Homes for March Key Metrics   2019   2020   Change New Listings  913     657    – 28.0% Closed Sales 329     309     +  1.4% DOM*              71       72     + 1.4% Median PX $411K  $445K  + 8.1% % of PX      97.1%  97.6%  + 0.5%...

March Sales Monmouth & Ocean Counties

Monmouth County   Single Family Homes for March Key Metrics      2019    2020   Change New Listings   1,115     769     – 31.0% Closed Sales    457      484    – 5.9% DOM*                68        62        – 8.8% Median PX   $425K   $445K     + 4.7% % of PX       ...

NJ Property Sales Slip in March

As COVID-19’s impact spread across the country in March, the stock market declines started in February accelerated downward before recovering a bit in the last week of the month. With volatility across all the financial markets, lenders began tightening underwriting...

Fannie Mae Projecting Drop in Home Sales

The recent Fannie Mae report projects that home sales may possibly fall by up to 15% in 2020. [That is the number of homes sold, not the price of homes.] The housing projection published by Fannie Mae indicates that total housing starts are expected to fall from 1.5...