Pending Home Sales Increased in March

by | May 7, 2021 | Uncategorized

Pending home sales increased in March 2021 from February pending home sales. A great deal of the increase reflects the growth of new home listings that came on the market during the month of March. February and January pending sales reflected the shortage of inventory...

Home Buying Using the Escalation Clause

by | May 6, 2021 | Uncategorized

The Escalation Clause First of all, escalation clauses are permissible in the state of New Jersey. In a bidding war, buyers and sellers have to adapt to the market’s temperature. More buyers are using escalation clauses when making an offer to purchase a home....

Lumber and Material Costs Are Up

by | May 5, 2021 | Uncategorized

For the last 18 months, home prices have been increasing at an unrelenting rate. In many New Jersey counties, the average home price increased by 20% or more. New Jersey March Median Price Changes Monmouth County + 22.3% Ocean County + 24.$% Middlesex County + 17.7%...

Bergen & Passaic County Sales

by | May 4, 2021 | Uncategorized

Bergen County   Single Family Homes for February Key Metrics        2020    2021   Change New Listings         880     1,007    +14.4% Closed Sales        488     652     + 35.7% DOM*                   66        50    –  24.2% Median PX       $510K   $590K   + 15.7% %...