Bidding wars have returned to Randolph and Morris County in the first quarter of 2017 in a big way. The combination of low inventory, lower interest rates, high priced rentals and few tax deductions left, are pushing buyers into competitive bidding to own homes across the county and especially in towns with great schools and an easy commute to Manhattan, like Randolph, with surrounding Morristown, Denville and Dover train lines within minutes.
Randolph has always been a community that attracts droves of people who want ‘in’. This is a town where home buyers can expect to appreciate in an upward trending market and simultaneously offer their children an excellent public school education at top-rated Randolph High School,
As of today, April 9th there are 118 homes actively for sale in Randolph and a record breaking 86 homes under contract (many homes are selling as exclusive listings before they appear on MLS.) It is not uncommon for inventory to swell to over 150 homes for sale in the spring market so there is no doubt the market is shifting.
I pride myself on advising local sellers to prepare their homes to be in tip-top shape before they hit the market, focusing on competitive pricing and a broad marketing campaign to reach thousands of prospects.
To see the latest Randolph/Shongum monthly home sales, please visit www.randolph-nj-homes.com.