What's Old Is New Again...8/28/2019
Just 10 year ago we described how our local Real Estate Market was “heating up” and that we had multiple offers on many homes that had high demand.
It's happening again. Many of the homes in certain price ranges are experiencing the same MULTI-OFFER situations. The biggest driver is mainly the supply. It's become hard to find single family homes, that are in good condition and that are in good locations. This past week in Central New Jersey brought many examples of these multi offer situations. So now imagine buyers that are coming into the market to take advantage of these historic low mortgage rates, but they are unable to buy. At one point you may hear that the number of home sales have gone down from other years, but is it because buyers are not buying or because they have nothing to buy.
If you are thinking of selling, this might be the right window to take advantage of the strong demand.