Monmouth County Real Estate Market This Past Month During COVID-19
*Last updated April 22, 2020. As per FlexMLS.This graph tracks the New, Under Contract, and Closed Listings day-by-day in Monmouth County, New Jersey. This way, you can see how COVID-19 has impacted sales on a daily basis. New listings refer to new homes coming on the market. Under contract listings are homes that are currently selling. Closed listings are homes that may have gone under contract a month or more ago, and have just officially sold. In order to assess how the market is performing in terms of supply and demand, it is better to look at new and under contract listings. From this chart, we can see that around the last week of March, there were significantly more homes going under contract than there were new homes coming on the market. This indicates a strong seller’s market. As we continue through April, we can see the new and under contract listings becoming more equal. This indicates that we are now in a balanced market, as homes are selling at approximately the same rate that they are coming on the market. Also, if you disregard the few outliers that occurred near the end of March in terms of closed listings, you can see that closings have remained relatively constant. This means that houses are both selling and closing at a fair rate relative to new inventory. However, please keep in mind that all of this information is on a very broad scale. This could differ from town to town, neighborhood to neighborhood, and amongst different price points within each town. For information specific to your situation, feel free to reach out to me directly. Stay safe!
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It’s exciting knowing that you’re starting a fresh life in your new abode. But that exhilarating feeling can quickly be replaced with dread once you realize that the moving truck has left the driveway, and you’ll need to face the daunting task of unpacking your belongings.
When selling a home, it’s not uncommon for your buyer to ask for more time before closing. This request to extend the closing date might be due to financing, inspection, paperwork delays, or life changes, among other reasons. It’s frustrating, yes, and may leave you wondering what it means for your plans and your timeline.
When selling a home, it’s not uncommon for your buyer to ask for more time before closing. This request to extend the closing date might be due to financing, inspection, paperwork delays, or life changes, among other reasons. It’s frustrating, yes, and may leave you wondering what it means for your plans and your timeline.
However, it’s not uncommon for a home sale to face some sort of delay. If a buyer needs to extend closing, make sure you view it as a practical request and not as a dealbreaker. After all, it’s highly likely that the buyer would also want to close as early as possible.
From structural defects to pest infestations, certain warning signs detailed in the inspection report can reveal underlying risks that every buyer should take seriously. Here are the top five red flags you should watch out for.
Here are some of the best low-cost projects you can tackle this season to make your home feel brand new.
Photos, videos, and virtual tours—these are all great ways to showcase your house to buyers when selling. However, there’s nothing like physically stepping into the home and seeing the condition of the space with your own eyes.
Savvy home buyers know that some of the most important things to check are the ones you don’t admire at first glance, such as the age of the roof, the stability of the foundation, or, in this case, the condition of the home’s HVAC system.
The heating, ventilation, and air conditioning (HVAC) system is a critical component that is often overlooked, but it can directly impact your monthly energy bills, air quality, and comfort in the home. And the reality is that it’s one of the most expensive things to replace. If it breaks as soon as you move in, brace yourself not only for an uncomfortable stay but also for a steep out-of-pocket cost.
POV: You’re a homeowner thinking about downsizing, upsizing, or relocating to a new area. Your biggest dilemma now? It’s probably this: whether to sell your current home before buying a new one, or buy first and then sell.
Whether you’ll be working on small upgrades to simply refresh your space this summer, or diving into a major remodel before listing your home for sale, remember that preparation is key. It’s important to take a step back and plan before kicking off your long-planned renovation.
Asking the right questions is crucial, especially when plunging into homeownership. There’s always been a long checklist of questions for you to know and understand every part of the real estate transaction. But how about “soul searching” questions you should be asking yourself first? Many times, these questions are often overlooked simply because they can make you feel uncomfortable.
Regardless of what they’re called, an accessory dwelling unit, also known as an ADU, is an additional living quarters on single-family lots that is independent of the primary dwelling unit, according to the U.S. Department of Housing and Urban Development. The separate living spaces are equipped with kitchen and bathroom facilities, and can be either attached or detached from the main residence.
Foundation problems are dangerous since they can lead to significant issues throughout the rest of the home, including structural damage, mold, water damage, and even pest problems.
In this blog, we list five tips to keep your kids involved and informed about the home purchase. They may not fully understand its many aspects, but making your children feel included and valued can help ease the transition and get them excited about relocating.
First impressions matter, especially in real estate. It’s particularly crucial in spring, which is considered the busiest selling period in many housing markets. Many potential buyers start looking for homes, and your goal is to entice them on the outside so they’d be willing to look on the inside. When buyers pull up to your home’s curb or see photos of your home online, you want them to be excited by what they see, so your home’s exterior needs to look as welcoming and inviting as possible.
It’s tempting to rush into writing an offer and seal the deal before another buyer gets their hand on it. But not so fast! Before making an offer on a home, you need to do your research to ensure that you get the best deal possible and avoid potential headaches down the road.
Here are some guide questions to help you make an educated and appropriate offer that the seller will gladly accept.