Real Estate Market Today: ROK Realty Report January 2024

Robert O'Keefe - ROK Realty Group
📱 (201) 374-7334 (Text/Call)
📧 robert@rokrealtygroup.com
🔔 Subscribe: https://www.youtube.com/@rokrealty
📸 Instagram; DM's Open: https://www.instagram.com/rok_realty

_________

📆 As we bid farewell to December 2023, join us in reflecting on an eventful year in the world of real estate in our latest ROK Realty video!

📊 Key Takeaways:

📉 Mortgage rates hit a significant low at 6.7%, sparking a surge in purchasing activity and marking a positive shift in the marketplace.
📈 Despite a slight price decrease, year-over-year home values increased by 4%, emphasizing overall growth in the real estate sector.
🏠 The competition for homes intensified with a 1.7% decrease in inventory, fueling a strong buying frenzy in the market.
🗺️ Over 27 states boast a median home value exceeding $300,000, showcasing the diversity of the real estate landscape.
📈 A remarkable 35% increase in home values nationwide over the past 3 years signifies an upward trend in the market.
🎉 Fun Fact: Did you know that the median home value across all 50 states is $431,000? New Jersey stands out at number 7 with a median home value of $495,000.

📅 As we wind down the year, remember that great real estate decisions are made in advance. Start planning for 2024 and beyond now!

🎄 We hope you had a fantastic holiday season with your loved ones and wish you a joyful new year ahead.

🚀 Call to Action: If you're gearing up for real estate endeavors in the coming year, whether it's buying, selling, or investing, don't hesitate to reach out.