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Tips For Buying in a Seller's Market in Nutley

(Published on - 11/12/2020 2:04:29 PM)

Tips For Buying in a Seller's Market in Nutley

 

Most analysts would agree that we're in a seller's market in Nutley NJ. The past several months have been an interesting time, and while the coronavirus has negatively impacted much of the economy, real estate has been surging in Nutley NJ.

Much of this is likely due to the low interest rates, hovering below 3%. There are other factors too, including pent up demand following strict lockdowns during the spring in Nutley, and for some people, there's an interest in moving to the suburbs and away from bigger cities.

If you want to buy in Nutley NJ, there are a lot of factors in your favor right now, but challenges remain.

Driven by surging demand and low inventory, the median home price nationwide rose to $295,300 this past summer. Despite these rising home prices, sellers are finding that they're getting multiple offers and offers well above asking.

So what can buyers do during this time?

 

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