New Jersey Estates/Weichert Realtors/ NJ Luxury Real Estate/ New Homes: Regional Report: ****Northeast****

Regional Report: Northeast

It may seem premature to start going against the drumbeat of negative news regarding the national real estate market, but new numbers show that sales are increasing in some parts of the country.

The website RealEstateABC.com is reporting an aberration in price increase for one region in particular in their most recent report.

While the median average sales price fell for most parts of the country compared to last year, the Northeast showed an increase of almost $16,000 and 3.12% to an average $270,000.

That's no small number, and great news for folks who are looking to move to or invest in that region.

And when we look at reports from agents actually working in the Northeast, they seem to echo the good news.

Hilary Gilles of Summit, New Jersey says the strongest segment of her market are those homes priced over 1 million dollars, and those homes that are priced correctly are seeing plenty of offers.

But high dollars estates aren't the only homes that are doing well in the Northeast.

John Mesko reports that he has seen a lot of activity in the market for maintenance-free products like condominiums and townhomes.

There's even better news for buyers on the low-end of the market in Pennsylvania.

Agent John Salem in Pittsburgh says that the strongest segment of the market he's seen has been for low-end housing and first-time homebuyers.

So there appears to be good news all around for the entire Northeast segment of the national real estate market.

We'll continue to watch these reports to see if this trend continues here and in other parts of the country.


March 28, 2008