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REAL ESTATE BLOG
TIPS FOF BUYING & SELLING REAL ESTATE IN UNION & ESSEX COUNTY NJ
Here is a quick update on how the real estate market in Irvington is doing so far in 2018. I put together data from January 1st through Feb 15th, sort of a "mid-quarter" summary. Here are the highlights:
The year-over-year data shows continued growth in the real estate market in Irvington. Inventory remains low, as we see 57 fewer homes on the market today compared with 1 year ago. I expect that trend to continue as many homeowners are still waiting for their home values to rise above "Pre -08' crash" levels before putting their homes on the market.
Irvington continues to develop and expand. There is significant investor activity, with many "house-flippers" buying property to renovate and resell. Each time one of these renovated homes is sold, the market pushes up a little bit higher. Last year, the highest sale price for a single family home was $205,000. This year, a home has already sold for $225,000!!
Well, that's all I have for now. but If you have any questions, please let me know!
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