What To Expect In The Winter Real Estate Market

Dated: November 23 2020

Views: 241



It’s Thanksgiving week, which means the holiday season is officially underway! 


Despite the challenges of 2020, we have a lot to be thankful for at the Jill Biggs Group, including growing families, incredible clients, and work we love.


This season also marks what is typically a slow-down in the real estate market here in New Jersey. But in true 2020 fashion, this season will be anything but typical. Lawrence Yun, chief economist of the National Association of REALTORS®, said,


“It will be one of the best winter sales years ever.”


Whether you are a buyer or a seller, keep reading for what you can expect as we enter the winter market.


Sellers


The number one thing to know is buyers remain active! Hoboken and Jersey City have seen an increase in buyers from New York City, with more than 3,000 NYC residents moving across the Hudson River over the past eight months. Those who are eager to move aren’t stopping their search just because of a change in seasons.


“We currently see buyers sticking around in the housing market much later than we usually do this fall,” says Danielle Hale, realtor.com®’s chief economist. “If that trend continues, we will see more buyers in the market this winter, too. So this winter is likely to be a good time to sell.”


Buyers


While it may take some time to find a home you love, historic-low mortgage rates are helping buyers stick within their budget. To increase your buying power, make sure you are actively searching online, understand your financial situation, and are teamed up with the right agent. 


Throughout the Holiday and winter season, The Jill Biggs Group is committed to doing what we do best: providing unparalleled service and support for our clients. If you ready to make a move now or in 2021, contact us to learn how we can help!

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Jill K Biggs

Jill Biggs leads the top-producing real estate team in Hudson County, N.J., a booming market located just outside of New York City. With more than a decade of experience serving Hoboken, Jersey City a....

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