If you are interested in buying or selling a home, the right timing of New Jersey markets is an essential component of real estate. New Jersey has a very dense population, and there is always a demand for housing. Single-family homes are rising in value due to the high demand, yet luxury homes are not appreciating.
Research shows that the most appropriate time to sell your home in New Jersey is in the second half of May on a weekend. If an apartment is listed on a Saturday in the last week of May, the house is likely to sell at $3,100 more than if listed at a different time. Here are the most popular New Jersey markets:
Weehawken in Hudson County is a hot selling market and it is one of the best areas to live in New Jersey. It has excellent schools, and you can easily commute to New York. The average value of a home in Weehawken is about $780,200. The property values in Weehawken have increased by a 5.8% margin over the past year. They are approximated to rise by 5.8 % over next year.
Any property near a beach always appreciates. Monmouth County is another top seller. Belmar in Monmouth County is one square mile. It has a population of more than 5,700, and is a hot New Jersey market. The average value of a home is $580,000. The cost of homes in Belmar has risen to 3.9% over one year, and the prediction is that they will increase another 1.8% within next year.
Lake Como is a small town on a beach in Monmouth with a population of 1,500. It has good quality schools, and the average home value is $426,000. The cost of homes has gone up by 7.9% over the past year, and they are predicted to go up another 4.9% next year.
Asbury Park is undergoing a revival, with small businesses booming. Commuting to Manhattan, Newark, and Philadelphia is an option from Asbury Park. The average home value is $365,600, with the home value rising over the past 12 months which is an additional 8.3% margin. It is predicted to go up by 3.4% over the next year.
Carlstadt is a small town with breathtaking views of the Statue of Liberty and New York City. Carlstadt is close to New York, thus attracting a lot of buyers. The average home value is $413,000. The home value has risen by 3.2% over the past one year. It will increase by another 3.4% over the next year.
The best time to buy a home in New Jersey markets is when the buying competition is low. Most people sell their homes at the beginning of summer because buyers typically need to move before the beginning of the next school year.
Whether you are investing, buying, or selling, make sure you use a local realtor to guide you in deciding at the right time. If you are property hunting in New Jersey and want to narrow down your best real estate options, you can call us at 201.568.5668 or email Josh@NJLux.com today!