Denville, NJ Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is this a good time to sell a house in NJ? ›

Considering the current market conditions, favorable interest rate environment, and outlook for the first half of 2024, now could indeed be a good time to sell your New Jersey house. With high demand, competitive pricing, and favorable financing options, sellers stand to benefit from entering the market at this time.

Working with a real estate agent is a common approach to selling a home, but it's not your only option. If you're selling a home in New Jersey, you could choose to do the work of marketing your property, hosting open houses and even negotiating a deal with a buyer, all on your own.

A personalized real estate website is better suited for agents who want to: Build a strong brand of their own. Generate warm real estate leads. Distinguish their services from the competition.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

Most Buyers View a Home for Sale on Sundays

It gives the buyer a chance (typically) to see the home before the seller makes a decision and write up an offer.

You will report any income earned on the sale of property as a capital gain. When filing your New Jersey Tax Return, a capital gain is calculated the same way as for federal purposes. Any amount that is taxable for federal purposes is taxable for New Jersey purposes.

If you owned and lived in the home for a total of two of the five years before the sale, then up to $250,000 of profit is tax-free (or up to $500,000 if you are married and file a joint return). If your profit exceeds the $250,000 or $500,000 limit, the excess is typically reported as a capital gain on Schedule D.

Unlike some states, New Jersey does not require that sellers involve a lawyer in the house-selling transaction. However, both the buyer and the seller have the option of engaging an attorney to review the purchase agreement before it becomes final.

In terms of listing sources, Zillow offers a broader variety of FSBO options, while Realtor.com ensures data accuracy with its focus on licensed agents, impacting potential buyer reach for each platform.

Is real estate worth it now? ›

While there is some economic uncertainty swirling right now, most experts believe that the housing market will not crash. Home prices may decline in some areas, but it won't be catastrophic — think of it as more of a soft landing.

Your real estate agent knows and understands the local market, so it's easier for them to set an accurate listing price for your home. They can also recommend repairs or quick enhancements that will help your home sell faster and for more money. They also know how to market your home.

In May 2024, home prices in New-Jersey were up 12.2% compared to last year, selling for a median price. On average, the number of homes sold was up 0.4% year over year and there were 7,827 homes sold in May this year, up 7,793 homes sold in May last year.

The runaway housing prices we've seen over the past few years in New Jersey should finally slow down in 2024, real estate experts say. And the market is expected to normalize. Falling interest rates should lead to more houses being listed for sale, helping prices level out.

With a thriving job market and an influx of talent, demand for housing outstrips supply, keeping prices firm. Projections suggest a sellers' market in 2024 thanks to a still-tight supply of homes and unflagging demand, ideal for selling at peak pricing.

The best months to sell a house are during the spring season, from April to October. Because the demand outweighs supply, housing prices increase, and homes sell faster. Meanwhile, the worst months to sell a house are November through March or during the winter, when potential buyers are preoccupied with holiday plans.