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1Q 2018 REAL ESTATE UPDATE FOR 07112
Here is a quick update on how the real estate market in Weequahic is doing so far in 2018. Here are the highlights:
The year-over-year data shows continued growth in the real estate market in Weequahic. Inventory remains low, and 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.
Weequahic continues to develop. 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 $375,000!!. This year, 2 homes already sold for $250,000!!
A number of large commercial developments are also expected to be completed this year. I will follow up on these changes and how they impact home values in a future email. That's all I have for now. but If you have any questions, please let me know!
ABOUT THE AUTHOR
Experience is the chief author of the Realty 33 blog, as we continue to learn new things everyday. This blog is intended to educate and help those that wish to know more about the world of real estate.