Westfield Area Market Update

By
Real Estate Agent with RE/MAX Select NJ# 9483506

Inventories continue to tighten, giving "legs" to the sellers’ market.

After the recent pop up in interest rates, over-selective buyers saw erosion in their buying power. Those who delayed buying, waiting for a look behind        door #3, now may not qualify to buy the houses they previously eschewed.

The most prime 15-20% of the homes on the market, in the scarcity environment, continue to attract multiple bidders and above asking prices. The winners of these contests are consequently very exigent about inspection issues, since they paid “a premium.”

 

Cranford  Fanwood/Scotch Plains  Mountainside   Summit  Warren/Watchung
Westfield by Grade School:
Franklin   Jefferson   McKinley   Tamaques   Washington   Wilson

 

 

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Scott Gleason

Westfield NJ New Homes Specialist
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