Market Report for August 2021 vs 2020

August 2021 vs 2020

If your home is in a different location and you’d like your home’s accurate value for your town/neighborhood, call/text or email us.

                          Clifton Real Estate – August 2021

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 80 Homes

Media SOLD Price: $ 440,000 Median LIST Price: $425,000

Days on Market: 15

Sale to List Ratio: 103.4

Clifton Real Estate – August 2020

Single Homes SOLD (Incl, Condo/Townhomes, Active Comm Homes): 79 Homes

Median SOLD Price: $ 390,000 – Median LIST Price: $ 394,500

Days on Market: 19

Sale to List Ratio: 100.2

12% Price Increase

Market Highlights According to NAR (Nat’l Assoc of Realtors)

** The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction.

• Single Family Closed Sales were up 16.1 percent to 1,481.

• Townhouse-Condo Closed Sales were up 75.7 percent to 557.

• Adult Communities Closed Sales were up 26.7 percent to 19.

• Single Family Median Sales Price increased 11.7 percent to $567,500.

• Townhouse-Condo Median Sales Price increased 12.7 percent to $390,000.

• Adult Communities Median Sales Price increased 8.8 percent to $420,000.

The National Association of REALTORS® reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.

This is Still a Great Time to Sell and the Northeast is Still the Strongest Region in the Country.

Call/Text or Email Us for an Accurate, No-Guesstimates Value of your Property:

Sanchez Realty Group at United RE: 973-216-1945 or Email Us: rsanchez@robsrealtor.com.