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Our Coldwell Banker Middletown office sold 18 homes in February. I feel the low inventory situation will continue through Spring and it driving prices higher from their current levels.
In Middletown, NJ the sales/list price ratio was 103%. Buyers are going over list price and many are waiving the appraisal especially on homes that are in move-in condition. Buyers are also including proof of funds to show that they can come up with the additional funds should the property appraise for less.
The market is hot and it doesn’t show signs of a bubble about to burst.
