Clifton, NJ single family home market showing signs of appreciation

NJ Home Appraisal keeps its finger on the pulse of the local NJ housing market. Today we did an analysis of the Clifton, NJ housing market. The NJ housing market is seasonal. That means that the number of homes sold varies based on the effects of weather and school calendars. Typically we see fluctuation in both the number of homes to sell and the prices at which they sell based on the time of year in most of the core housing markets in the area.

Taking that into account, it appears very clear that market conditions are much more robust in many of the core markets in the state.

clifton july 20141

The chart represents MLS arms length sales of single family homes in Clifton, NJ over the past 24 months. Since winter of 2012, the increasing trend in the market is very clear. The rate of increase tends to vary seasonally as well.

clifton july 20142

Generally speaking real estate markets don’t increase at uniform rates, but the last 6 months have seen an average of +1.1% per month increases in home values which bodes well for the local Clifton economy.