In this Real Estate environment about 20% of the homes listed for sale in most towns are actually priced to sell, and 80% are priced to sit. That is why you still see homes here and there getting full list price offers, and sometimes even bidding wars. Just last month there was a home in Madison New Jersey which sold for $60,000 above asking price with just 7 days on the market.
Buyers are out there shopping for homes. Maybe even now more than a few months ago considering mortgage rates are at 5% for a 30 year fixed. The important ingredient that most homeowners are missing is to price your house according to the market. In just the last 2 weeks 3 homes closed in East Hanover ranging from $340,000 to $520,000. I am proud to say Coccia Real Estate Group sold each one of these homes. In Florham Park 5 homes closed and one of them sold for full price at $999,000. Finally, in Hanover township 3 homes closed in the past 2 weeks and again Coccia Real Estate Group sold 2 out of three for 95% of asking price or better!
When choosing to buy or sell Real Estate in a difficult market like we are in now. Every expert will tell you to use a local Real Estate Professional. Your local Real Estate Professional is Coccia Real Estate Group, LLC!