Clifton Real Estate Market Report for June 2018

This winter and spring exhibited unseasonal weather patterns. As the weather settles in a more reasonable pattern and wages and consumer spending rise, on average, it should translate positively for the housing market. Being quick and generous with an offer is still the rule of the day as the number of days a home stays on the market drops lower and multiple-offer situations become the norm due continued lower inventory levels.

The Numbers Month to Month and Year to Year

The Median Sales Price for Clifton Homes in May 2018 was:

Single Homes SOLD (Incl, Condo/Townhomes,Active Comm Homes) : 71

Media Price Sold Price Sale to List Ratio DOM

$ 350,000 $ 350,000 97.7 28

The Median Sales Price for Clifton Homes in April 2018 was:

Single Homes SOLD (Incl, Condo/Townhomes,Active Comm Homes) : 71

Media Price Sold Price Sale to List Ratio DOM

$ 335,000 $ 335,000 97.7 33

Multi Unit Homes (2-4 family)

The Multi Family market in the region is EXTREMELY favorable to the homeowners that need or desire to become SELLERS, Clifton as well as, many other communities in New Jersey with multi family inventory exhibit a demand of buyers that far exceeds the supply at large, creating a favorable condition that leads to full price or over asking offer in many cases.

The Median Sales Price for Clifton (2-4 Units) in May 2018 was:

$360,000 with JUST 21 homes closed, 21 days on the market and 100% LIST/SOLD ratio compared to

$395,000 with JUST 14 homes closed, 21 days on market for APRIL 2018. and 100% LIST/SOLD ratio.

If you’re thinking to SELL! NOW IS THE TIME TO LIST & SELL for MAXIMUM GAINS.

Month to Month Gains Fluctuates Due to Changes Specially in Weather Patterns, Low Inventory Level, Overall This Year the Gains For Most Markets are Over 6%.

The three most prominent national market trends for residential real estate are:

* The ongoing lack of abundant inventory
* The steadily upward movement of home prices and
* Year-over-year declines in home sales.

Sales declines are a natural result of there being fewer homes for sale, but higher prices often indicate higher demand leading to competitive bidding and/or multiple offer situations for the available competitively priced homes.

Markets are expected to increase supply, so there is hope that sellers will get motivated to sale to take advantage of what appears to be a ready and willing buyer base.