NEW JERSEY Housing Market Forecast for 2024 (from Reventure Consulting)
NEW JERSEY Housing Market Forecast for 2024 (from Reventure Consulting)
Home prices across New Jersey keep going up throughout 2024, with the typical value of a house up nearly 9% YoY according to data from Zillow.
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The reason home prices in New Jersey keep going up is due to a huge shortage of inventory and homes for sale. There is simply isn’t enough supply on the local…
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Track housing market data in New Jersey on Reventure App: http://www.reventure.app
Particularly: the inventory and price cut trends for your ZIP code. This will key you in on direction of market. If inventory/price cuts are still below long-term norms, then prices more likely to go up.
If inventory and price cuts are heading above long-term norms, more likely market will slow or decline.
I am waiting for him to do one of his CRASH videos on NJ
can you follow up with nj
Tax assessment on that 900k house was 398k 😂 and paying 15k in taxes. Wait till they decide to reassess. Towns will decide at their own discretion on when to assess.
I am in NJ. Price going up fast in last two years!
Please do more analysis about NJ housing market future
Lower Fairfield County is crazy AF. Took me 7 months to buy bidding 35k over already inflated ask price.
For the past decade or so migration rate out of New Jersey has been elevated by retired baby boomers switching to fixed income looking for lower taxes…and warmer weather. In my experience, some were happy to leave and others wish they didn’t and have some regret. Some even move back.
Buying a home in North Jersey feels like an impossible task. If a house is in decent condition, no matter how much you offer above the asking price, there’s always someone who bids higher.
Very informative video. Jersey City resident here looking to invest in Union or Middlesex County. The taxes are ridiculous but I'm still here, for now 😮
Pre covid buyers got lucky af 😂😂
In NJ, homes are selling in one week. ( average home $ 900,000.00 )
South Jersey resident here. New Jersey is a amazing place to live, but unfortunately it’s almost impossible for seniors to retire in that state.
I have been hearing people speak all kinds of different languages as of late, so maybe that's why the migration numbers spiked up in NJ>.
Been trying to buy in my own state for months now my wife and I both have good jobs. We are getting outbid by people who don’t even work here and aren’t from here. It’s so defeating.
THE PROPERTY TAX IS HIGHER THAN DISCUSSED. THE SALE PRICE IS MUCH HIGHER, IN MOST CASES MORE THAN DOUBLE THAN THE ACESSED VALUES YOU ARE SHOWING IN THE EXAMPLES.
They just built a house down my street with the smallest yard imaginable and built on top of two other houses and they want $700k for it 😂😂😂😂
THANKS FOR DOING NJ!!! Everyone always avoids the northeast and I really appreciate you doing NJ in specific
Thank you for sharing analysis about New Jersey housing market
Nobody talks about NJ’s exit tax when selling a house and moving out of state I forget what the percentage is of the total sale of the home !….crazy
I'm surprised because being close to ny is the only reason to live in nj
There is no maybe Nick, because New Jersey is after all part of the United States and as you said yourself, Unemployment is a factor that is what really is going to affect the housing prices in New Jersey in the end.
Thank you for focusing on New Jersey. The situation here is ridiculous, with basically all those Jerseyites that left to Florida being replaced by all those New Yorkers, which has kept the inventory at a basic 0%.