Bidding wars are back, prices are up and inventory is wayyyyy down.
In Northern Jersey this years spring market is roughly 5.5% ahead of last years market for median sales prices.
The price appreciation is due in part to the lack of inventory combined with low interest rates which has buyers coming out swinging. When homes are marketed properly we've seen as many as 11 offers on a single property in less than a week!
Of my 6 listings in the past couple of months, my average sales to list price ratio is 104.7%. In other words my listings are on average selling for 4.7% above asking price.
If you're looking for an agent who will actively market your home and bring results, contact me for a free consultation.
Kyle Kovats
201-403-1314
