Ringoes, NJ Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is this a good time to sell a house in NJ? ›

Considering the current market conditions, favorable interest rate environment, and outlook for the first half of 2024, now could indeed be a good time to sell your New Jersey house. With high demand, competitive pricing, and favorable financing options, sellers stand to benefit from entering the market at this time.

What about North Jersey median home prices? Nearly every New Jersey county had an increase in listing prices from June 2023, and just more than half had listing prices increase from May 2024. Morris County had the highest median price increase in North Jersey at 10.79%, with a median listing price of $734,000.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

What day of the week do most house showings occur? Sunday is the day of the week with the most home showings.

1) Fear of rejection.

This is often the first thing to come to mind when realtors are asked to share their biggest fear, especially for those agents who are new to the industry. It's a scary thing to put yourself out there—to go door-knocking or cold-calling.

New-Jersey Housing Market Overview

On average, the number of homes sold was down 14.9% year over year and there were 8,115 homes sold in June this year, down 9,535 homes sold in June last year. The median days on the market was 31 days, down 4 year over year.…

The runaway housing prices we've seen over the past few years in New Jersey should finally slow down in 2024, real estate experts say. And the market is expected to normalize. Falling interest rates should lead to more houses being listed for sale, helping prices level out.

Is it good to buy a house in NJ now? ›

There's no better time than NOW! 12.9% of homes are selling below their listing price. Moreover, there's a 7.7% increase in newly listed homes. So, not only are you spoilt for choice, but you're also more likely to crack a good deal on your dream home.

Worst Times for Price

Predictably, the worst times to sell your home if you're looking to get a good price is in January, February, and March. Very few people put their house on the market this early in the year, so buyers generally get an excellent deal, up to $70,000 better than they otherwise would.

In a recent note, Chief US Economist Michael Gapen and his team revealed that they expect home prices to rise by 4.5% this year and 5% in 2025. Gapen doesn't foresee the market cooling down until 2026 at the earliest. With this in mind, current homeowners can sell for even higher prices down the road.

Real estate experts predict a continued housing shortage, and because they expect high buyer demand to keep pushing home prices up, 2024 may be an ideal time to sell. Experts also anticipate a leveling out of 2023's elevated mortgage rates, expecting rates to eventually settle around 6% – 7% in the spring.