Markets are local, and so you will get more specific feedback from a Ft Lee agent, but I will comment more generally on conditions I am seeing in Somerset County. I just blogged a post regarding activity in Warren and Basking Ridge - both performing well this Spring. Basking Ridge in particular is performing well with only 4 months of inventory or put another way, properties are moving in about 4 months on average. So our local market is moving well - IF the properties are priced well. If not, the will sit and linger unsold, awaiting an price reduction that corrects the pricing issue.
Market is moving - but not climbing. Moving comes first, and tells me that the correction is over in some areas and nearly over in others. I see stabilization and then modest growth over the next few years.
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