Home values in Washington Township in Warren County NJ are at their peak in the past 16 years. The superheated housing market made a giant leap in 2021. Warren County in general has been one of the last counties in Northern New Jersey to bounce back from the recession in the early2010s. One website, in particular, has been tracking the property values in Warren County since 2005. Run by real estate agent Vincent Costa of RE/MAX Competitive Edge, SearchNJ.properties is one of his websites. The detailed information you will find in the Market Reports section is very valuable to homeowners throughout the region. The numbers don't lie. To see how competitive the market is, SearchNJ.properties provides a graph of the average sales price since 2005 and the percentage price change of that year.
The average sales price in Washington Township jumped 29% in 2021 to an average sales price of $381,147. Sales have skyrocketed since 2011 up to 77% within ten years. House values have finally eclipsed the peak values of 2006, up 3% over 2006’s average sales price of $358,626. This data can be interpreted in multiple ways. We can say that property values have increased 77% in 10 years. We can also say that property values have increased 29% in one year. We can as well say that Property values have increased 3% in 15 years. All of these statements are true.
The towns in have seen similar patterns of increase. Check out the reports in Washington Boro, Oxford, Mansfield, and Franklin.
If you are a seller, there is no better time to sell your property. There are so few homes on the market. Prices are at an all-time high. On the flip side, you have to buy a home. And that is where the challenges are. As an NJ Real Estate Broker for the past 22 years, I have not in the past seen this level of challenge that buyers are currently going through. Every offer is a bidding war; every offer is over the asking price. The struggle is real. You can only find a home if you are persistent and patient.
The Millennial generation is the largest in the history of the United States, larger than the Baby Boomers. They are all coming of age to buy homes and start families. As soon as they start families, they want to buy a home. This crush of the volume of buyers is not stopping anytime soon. Baby boomers leaving the housing market by selling their last home and moving on will help.
If you are thinking about making a move, be it buying or selling, the Costa Team led by Vincent Costa is one of the most experienced top agents in New Jersey and should be number one on your list. Clients' satisfaction is our utmost priority. We are the number one selling agent in Warren County with over 22 Years of experience. Give us a call or text at 908-242-6782.