The New Jersey Housing Market: Is 2017 a Seller’s Market?

The New Jersey housing market has seen its fair share of ups and downs over the last several decades.  With home prices exploding and falling suddenly, it can be confusing and frustrating when trying t determine if it’s a good time to buy or sell.  If you’ve been thinking about selling your home, now just may be the perfect time to do it.  The New Jersey housing market in 2017 is arguably a fantastic time to sell with home prices up and young buyers eager to live the American Dream.

What Exactly is a Seller’s Market?

A seller’s market is a real estate market that is usually in the seller’s favor.  This means that home owners can benefit from the sale of their homes a little more than they would if they were to sell in a different time.  In a seller’s market, homes may appraise higher and eager buyers may be quick to bid top dollar for their home.  When real estate options are down, i.e. less housing inventory to choose from, buyers may be willing to pay more for a house.  This obviously benefits the seller by giving them more money for the deal.

Is This a Good Time to Sell my Home?

There are a number of things to consider if you’re looking to sell your home.  While market conditions can play a significant role, you should also really make sure you are ready to sell your home.  If you are ready to sell your home and are looking for a great deal, many real estate agents may say it’s a great time to sell.  You can also look into comparables in your neighborhood to estimate or get an idea of where your home’s appraisal may fall..

Joseph Gachko, Esq. is an experienced New Jersey attorney who can assist you in any of your real estate-related legal matters. If you require legal counsel for your real estate matters, please contact The Law Office of Joseph Gachko today to set up a consultation.