Clifton Market Report – February 2020

Real Estate Market Report for February 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 34 Homes

Median SOLD Price:   $ 330,000          Days on Market: 53             Sale to List Ratio: 99.7                      

Local Housing STATS for January of 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes):  38 Homes

 Media SOLD Price:  $ 374,900          Days on Market: 30               Sale to List Ratio: 98.2

February 2020 as COMPARED to February 2019

Single Homes SOLD (Incl, Condo/Townhomes,Active Comm Homes) :  50 Homes

Media SOLD Price:  $ 338,000          Days on Market: 34                              Sale to List Ratio: 98.4

Multi-Family Homes in Clifton:  February 2020 – 7 HOMES ONLY

Media SOLD Price:  $ 450,000          Days on Market: 16                             Sale to List Ratio: 101.5

The demand for multi-family homes in Clifton is impressive and certainly, the shortage of listings is amazing.

How the CORONA VIRUS will affect Real Estate!

The kickoff of the traditionally busy real estate market in the Northeast that starts with the Spring season in this occasion might be overshadowed by the imminent threat and scare at all justified with the outbreak of the disease, while many sellers and buyers will hold off their plans to move on, the recent market falls indicate investors are taking their money from the financial markets to more secure investment asset classes also according to the experts causing the interest rates to drop as these investor look for more secure bond investments. These might become great opportunities to buy and sell.

REMEMBER:

Interest Rates are lingering around 3%, the lowest ever in history, if you have a higher rate is time to check your mortgage statements and call your lender if you’re thinking to stay in your home for the foreseeable future, you could be saving thousands in interest.

A GREAT TIME TO SELL or BUY If You’re Thinking About it as the news suggests buyers are starting their research online in January to avoid the extra competition that normally starts with the SPRING market kickoff on April 1st.

This is a great time to buy and yet a good time to be in the lookout for the right home with less competition since the kickoff of the spring market normally starts APRIL 1st.

CALL US FOR A FREE HOME AND ANALYSIS AND YOUR AREA’S ABSORPTION RATE INDICATORS.

           Roberto A. Sanchez – 973-216-1945

REMEMBER; Selling Real Estate is about the 3 P’s 

Presentation, Promotion, and Price. 

For your Personalized Market Review in your Specific Neck of the Woods:

Call me at 973-216-1945 

What’s My Home Value TODAY?