Valarie Friedman, an agent with RE/MAX Townhouse in Madison, said, "It was the busiest December we've had in five years.
It was miraculous.It was wonderful."
Home prices rose the most last year in Mendham, where the average sales price climbed from $555,876 to $707,750, a 27.3 percent increase.
In Boonton, prices went from $391,324 to $483,051, an increase of 23.4 percent.
agreed: In Madison and the Chathams, she
reported, 105 houses are on sale now, compared with only 70 to 75 last spring.Friedman
said buyers and sellers now are "earnest."Buyers think this is an ideal time to buy (prices have leveled off), and sellers think this may be a good time to sell (before interest rates go up).
mentioned developments in Chatham where the prices are similarly high.
Another sign of the prosperity of many New Jersey residents: teardowns.
Homeowners as well as builders are buying older homes on attractive properties, then tearing them down or gutting them to build luxurious mansions, Friedman
Still, Morris County agents report that there's no change in what most home-buyers love to see in houses they look at: fireplaces, luxurious bathrooms and remodeled kitchens. Front Page News Business Sports Lifestyle & Entertainment
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