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January 6th 2009

Maplewood is Beginning to Look Like a Value.

maplewood-chart

Holler back y’all. Maplewood is finally beginning to enter real estate reality. List prices have taken a nosedive. This was bound to happen — the question was when. Get this, back in February of ’08 the Median List Price for a single family home in Maplewood was around $570,000. Flash forward to January of 2009 and the current Median List Price is very close to $430,000.

Even though Maplewood, New Jersey is one of the most ultra trendy areas in our region, it still isn’t immune to the market downturn. That said, prices are really beginning to look attractive. Sure, I think they’ll still come down a bit — but if you try to time this market you may just miss out on an opportunity of a lifetime.

The beauty of the current market is that buyers can find the best homes, in the best areas, with the best prices, with very little competition from other buyers. It’s like going to a private real estate sale. Once the media chimes in, however, and says that it’s time to buy — “Private Sale’s Over.”

So, all of you first time home buyers dumping money into your landlord’s pockets in Park Slope and Hoboken. Listen up! It’s your time now. Get out here quick.

If you would like information regarding the Maplewood real estate market, please feel free to reach out to me toll free at 877-965-4800.

Click here to read my latest Maplewood Real Estate Update.

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