New Jersey home purchase contracts for April rose to 9700 the highest amount since April 2006. This number represents a 19% increase when compared to April 2014, and the greatest single-month increase since November 2013.
New Jersey’s strong performance, as demonstrated by Jersey City downtown performance, results from increased buyers’ demand for homes, having put off their purchase until now with record-low interest rates and less stringent loan standards. Jersey City sellers are the winners as low inventory levels continue to push home prices up. Over 50% of Jersey City downtown sellers achieve 100% or more of sale-to-list price.
If you would like to find out what your Jersey City home is worth, call me, Janice Hall, at (201) 232-8577.
