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NJ Real Estate News Buying Home

Real Estate Agent News: Real estate bidding wars aren’t going away

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Summary of the Article

There was also a relationship between bidding war transactions and the use of real estate agents, the study found. “The single biggest implication is …

Article

Frenzy, frustration and disappointment are what home buyers have come to dread about real estate bidding wars.

They’d better get used to it, suggests a new study. It shows that despite some drop-off over the last decade, homes sold through bidding wars have still substantially increased their share of sales over the last two decades.

Culled From

first published: 2015-03-02 18:56:15

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Buying Home Mercer County NJ NJ Real Estate News

Mercer County has Low unemployment rate – Princeton Home Values Increase

Mercer County has Low Unemployment Rate

The unemployment rate in Mercer County is 5.3 percent, nearly three points under the New Jersey rate of 8.4 percent and lower than the latest national numbers showing a 6.7 percent unemployment rate.

Princeton Area Home Values Increase

Princeton saw the average home sell at $933,122 – a $76,254 increase from 2012’s average. Hopewell Borough also saw a sharp increase, from an average of $356,774 in 2012 to $413,944 last year, and in Pennington Borough, the average sales price rose from $414,453 in 2012 to $471,851 last year. Montgomery and Lawrence townships last year, annual unit sales were up in both municipalities, rising from 230 in 2012 to 295 last year and from 237 to 323, respectively.  West Windsor, Plainsboro and Cranbury also saw a modest rise in average sales price and a jump in annual unit sales from 554 to 638.