Election Jitters? Why Now’s the Perfect Time to Buy or Sell Your Property in Ridgewood, NJ!

Now that the election has wrapped up, you might wonder how the outcome will affect the real estate market. If you're in the Ridgewood, NJ area, or considering moving here, I have some good news for you! The period following elections often marks an ideal time to buy or sell, making this an exciting opportunity for savvy homebuyers and sellers.

Why Election Years Matter for Real Estate

Historically, the year following a presidential election sees a notable surge in real estate activity. Data from the Department of Housing and Urban Development (HUD) and the National Association of Realtors (NAR) shows that post-election years have increased home sales in 9 of the last 11 cycles (see graph below). This trend largely stems from the “wait and see” approach many buyers and sellers adopt during election periods, only to jump back into the market once the political dust settles. According to The Motley Fool, this pattern highlights an excellent opportunity for those prepared to act.

Why Ridgewood, NJ and surrounding areas? 

In Ridgewood, NJ, the market is already outperforming neighbouring areas. According to the New Jersey Realtors September Market Report, Ridgewood home sales have surged by an impressive 18% year-to-date, surpassing Bergen County’s overall 11% rise. This uptick signals that Ridgewood’s appeal remains strong despite broader economic uncertainties, making it a hot spot for real estate activity.

What This Means for Sellers in Ridgewood, NJ area

If you’re a homeowner considering selling, the timing couldn’t be better:

• Low Inventory, High Demand: With fewer homes available, buyers compete, often leading to higher offers and faster sales.
• Strong Seller’s Market: Take advantage of these conditions to maximize your property’s value and receive top dollar on your investment.

Listing your home during increased demand can mean fewer days on the market and a smoother transaction process. Working with an experienced local realtor like  Kelly O'Brien can help you expertly navigate this seller-friendly market and capitalize on Ridgewood and its surrounding town’s strong performance.

What This Means for Buyers in the Ridgewood, NJ area

For buyers, sitting on the sidelines could mean missing out on favourable market conditions:

• Interest Rate Decline: Many experts forecast interest rates will decrease following the election, potentially lowering your monthly mortgage payments and increasing affordability.
• Market Entry Benefits: Jumping into the market sooner rather than later could mean securing a home in Ridgewood, Glen Rock or any surrounding areas in Northwest Bergen County before prices rise further.

Whether you’re looking for your first home, downsizing or upsizing, now is an ideal time to buy in the Ridgewood area. As a local expert, Kelly O’Brien can help you find the right property to suit your needs and take advantage of current market trends.

Why Choose Kelly O'Brien, Your Ridgewood, NJ Realtor?

With an in-depth knowledge of Ridgewood and the surrounding housing markets, Kelly O'Brien brings personalized service and expert insights to every transaction. Whether you're buying or selling, her commitment is to provide you with the guidance and knowledge you need to achieve your goals. When you work with Kelly, she will support you every step of the way while providing you with an unparalleled experience.

Contact Kelly today to schedule a complimentary consultation and discuss your goals in this dynamic market!