Gloucester Twp Sellers Have an Opportunity with Today’s Home Prices

 Gloucester Twp NJ Home Sales

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

Gloucester Twp NJ Sellers Market

This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

“Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge.”

And experts say prices are forecast to continue appreciating, just at a more moderate pace moving forward. A recent article from Fortune says:

“. . . the swift move up in mortgage rates . . . doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year.”

What This Means for You

If you’re thinking about selling your house, you should know you have a great opportunity to list your home and capitalize on today’s home price appreciation. As prices rise, so does the value of your home, which gives your equity a big boost.

When you sell, you can use that equity toward the purchase of your next home. And at today’s record-level of appreciation, that equity may be enough to cover some (if not all) of your down payment.

Bottom Line

History shows rising mortgage rates have not had a negative impact on home prices. Now is still a great time to sell your house thanks to ongoing price appreciation. When you’re ready to find out how much equity you have in your current home and what’s happening with home prices in your local area, let’s connect.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.                                                                                                                                                                                                          Search All Gloucester Twp NJ Homes For Sale      Search Valleybrook Homes For Sale 
Get your Gloucester Twp NJ Homes Value!  Contact Dave Sulvetta dave@davesulvetta.com

Gloucester Twp NJ Sold and Active Homes

$187,000
CLOSED Status 2 Beds 1 Baths NJCD2050504 MLS 7 DOM CLOSED Status
This charming retreat located in the well-maintained and manicured Lakes of Knoll Run community offers a tranquil living experience with its serene location. Whether it’s your first home, downsizing or you're simply looking for a quality investment property to add to your portfolio, this home presents a cozy and inviting space for its new owners. Step inside the front door into the main living space and you will immediately notice the beautiful engineered hardwood floors which flow into the dining area, kitchen, and hallway, adding a touch of elegance to the space. The kitchen features white cabinetry, pantry storage, gas cooking and counter space for additional seating. The main bedroom features a large walk-in closet, providing ample storage for your belongings. The large sliding glass door in this room provides stunning lake views, tons of natural light, and leads to a private patio creating a picturesque setting to relax and unwind. The nicely sized second bedroom is carpeted and a large closet offers ample storage. There’s also a large window offering additional lake views. Notable upgrades include a newer roof provided by the HOA, ensuring peace of mind. Storage is never an issue with plenty of closet space available throughout the property. Just move right in or choose to add a new paint color and some minor cosmetic upgrades to infuse your own personal touch and transform this house into a home you can proudly call your own. Don't miss out on this charming home, offering a serene environment, desirable features, and the chance to create your own personal oasis. Schedule a showing today and experience the potential this home has to offer!

87 Knoll Drive, Blackwood

$192,000
CLOSED Status 1 Beds 1 Baths NJCD2061710 MLS 11 DOM CLOSED Status
Welcome to 289 Knoll Drive! This charming 1-bedroom, 1-bathroom condo is now available. Situated on the first floor, this unit offers the convenience of easy access and a serene atmosphere. Nestled in a quiet neighborhood, this first-floor unit offers stunning lake views that will simply take your breath away. Step inside and be greeted by a modern oasis. The kitchen boasts a brand-new stainless steel appliance package that was installed in 2019, perfect for unleashing your inner chef. Freshly painted cabinets with sleek hardware add a touch of elegance to the space. Exquisite granite countertops seamlessly extend from the surface to form an elegant backsplash, enhancing the overall aesthetic appeal. Luxury vinyl plank flooring in a natural wood color extends harmoniously across the open concept living space, establishing a seamless and effortlessly maintainable atmosphere. And let's not forget about the shiplap wall, adding a trendy and contemporary flair to the space. This condo is not just beautiful but also practical. Ample closet space ensures that all your belongings have a place of their own. The bathroom has been thoughtfully expanded, providing additional comfort and functionality. The unit also includes a washer and dryer purchased in 2019 for added convenience. The bedroom is more than spacious offering plenty of space and a generously sized closet. Step outside onto your private patio and breathe in the fresh air while taking in the serene views of the lake. The sliding glass door, as well as two newly installed tilt windows, were added in January 2024. Need more storage? No problem! This unit comes with outdoor storage for all your seasonal items. Located in a desirable area, this condo offers easy access to nearby amenities including shopping centers, restaurants, and recreational activities. With one parking space included, you'll never have to worry about finding a spot. Don't miss out on this incredible opportunity to own a new and move-in ready condo with captivating lake views. Contact us today to schedule a viewing.

289 Knoll Drive, Blackwood

$45,000
CLOSED Status NJCD2058006 MLS 407 DOM CLOSED Status
Opportunity Plus. Priced to sell. Located in Blackwood West Redevelopment area in heart of Blackwood across from the Meadows Diner. Priced for a quick sale.. zoned CR. Prime Black Horse Pike location. was 3 units that needs to be completely gutted and remodeled. ( no utilities working or in use) sold as is. prior uses were a barber shop and wood work shop. taxes for 2022 are combined approximately 9,294. total tax assessment is 229,300. copied from the Gloucester Twp web site for zoning, The Blackwood West Redevelopment Plan is a comprehensive revitalization program for this traditional commercial center and its nearby neighborhoods in west central Gloucester Township.The Redevelopment Plans core strategy is to: Accomplish the Redevelopment Plan primarily through mixed-use buildings and mixed site development.Gloucester Township has designated several areas of the Township as redevelopment areas under the Local Redevelopment and Housing Law. Declaring an area in need of redevelopment allows for financial incentives for redevelopment projects. Gloucester Township believes that its ability to grant tax exemptions and abatement is an essential part of a comprehensive strategy to attract new development and redevelopment.Tax Abatement Program. The Township s commercial and industrial tax abatement program is a phase-in of property taxes over 5 years for new projects, or the rehabilitation and/or expansion of existing commercial and industrial properties. Developers must file a pre-application for abatement prior to construction. Further information and abatement applications are available from the Gloucester Twp Tax Assessor s Office .

212-216-218 S Black Horse Pike, Blackwood

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