Steve Andrews

Steve Andrews

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Sussex County real estate prices up over 10 percent

The latest research from Zillow shows home prices from February 2023 to February 2024 went up in every New Jersey County. Locally, Sussex County prices rose by 10.25 percent, Warren 8.57 percent, Morris 9.97 percent and Passaic 8.60 percent. This is good news if you already own a home. However, not such good news if you are hoping to buy a home. Interest rates will most likely not come down in the short term either. Prices in Camden and Mercer Counties rose more than 11 percent on the high end. Hudson County and Cape May Counties saw the lowest rise in prices at between 4 and 5 percent. One more thing. If you bought your home several years ago and needed P.M.I. higher prices could mean you don't have to pay for it anymore. You might want to have your home re-appraised.

Source: NJ.COM

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