According to recent reports, the number of sales for luxury homes in New Jersey is on the rise. Recent sales numbers have shown that while the total number of homes sold in New Jersey has decreased, the average dollar amount spent per home has increased. The reason for this rise is a steady increase in the sales of luxury homes in New Jersey, primarily in Bergen and Passaic County.
Sales of luxury homes in New Jersey have seen a steady increase during the month of August, particularly in North Jersey. Higher-end properties are taking up a bigger share of the market, which has had the effect of boosting the median home price across the board. In New Jersey, the average price for homes sold in August was $285,000, which represents an increase of over $13,000 in comparison to July. And this trend extends beyond the bounds of the summer sales season. The number of home sales valued at over $200,000 has risen nearly 10 percent over last year, while the number of homes valued at $200,000 or less saw a dip of over 9 percent.
Luxury homes in New Jersey have always gone for prices above the national average, largely owing to the increased cost of living in the garden state and property values ranking near the top of the nation. Despite the higher costs, people in the market for luxury homes still flock to the state as its proximity to Manhattan and Philadelphia make it an attractive option to professionals working in these two metropolitan centers. For these people, the home prices in New Jersey pale in comparison to equitable housing within the limits of the cities in which they work
Further increasing the sale of luxury homes in New Jersey is a surge in new home sales, both in the state and across the nation. New home sales saw a bump of 18% in September according to the U.S. Commerce Department. Over the course of the summer of 2014, new home sales have grown at the fastest rate sine May 2008.
There are a plethora of design and styling options available in the state for home buyers looking for luxury homes in New Jersey, and even more for buyers looking to build a custom luxury home. From the simple, classical design of beach homes to the sharp lines and sleek designs of modern homes, home buyers are far from lacking in options. And for those who are looking to build a custom home, their imagination is their only limitation. Whatever your taste, there is a custom luxury home design to fit your tastes.
D.E.N.J. Inc., a custom luxury home builder in New Jersey is proud to be a part of this trend toward increased luxury home sales. With over 25 years of experience and 150 custom built homes to their credit, D.E.N.J. Inc. is committed to delivering excellence in service and construction to all of its customers. From single story ranch homes to multi-million dollar luxury homes, D.E.N.J. has the experience and expertise to deliver a customer-centric home building experience that puts the wants and needs of the home owner at the forefront of every decision.
If you’re in the market for a custom luxury home in New Jersey, call the experts at D.E.N.J. Inc. Our industry leading customer service reps are always willing to answer your questions and get you started on the path to owning a luxury home in New Jersey. Get in touch today and start turning your dream home into a reality tomorrow.