Differential Markets in NJ Towns
We continue to see differentiation in the markets of individual NJ towns. There are a subset of towns in NJ which are prime bedroom communities with highly ranked school systems that also have an NJ Transit rail station. We continue to see a higher degree of strength in those township single family home markets. Westfield, NJ is a prime example.
Looking at the price trends there is a steady although gradual uptrend in pricing over the past 2 years. This contrasts to other nearby markets, most of which have seen flat markets that are fluctuate seasonally but are essentially rangebound.