Depending on your outlook, there is some good news in recent home sales. According to the National Association of Realtors, existing-home sales were down in September but were still above a year ago.
Although total existing-home sales declined 3 percent in September, they were still 11.3 percent above September of last year. In the Northeast, existing-home sales rose 2.6 percent in September and are 6.8 percent above a year ago.
However, keep in mind that real estate is extremely location-specific. One town in a given county may be experiencing a normal level of sales while a neighboring town could have houses sitting on the market much longer. Moreover, even houses within the same town but different price-points can vary in time on the market. Therefore, when people ask me “how’s the market?” my answer to that is “it depends on where you live”.
Now more than ever it pays to work with a knowledgeable neighborhood specialist. For more information about what your house may be worth, please contact me at (908) 334-9399 or email me at LBerchoff@lisastake.test.