Millenials, The City & The Burbs

I grew up in Jersey City and am proud to call it HOME! I love Jersey City & Manhattan and I am licensed to sell real estate in both. I know it like the back of my hand. With 30 yrs of experience in NY, 21 yrs in NJ and thousands of real estate transactions, I am an expert. I choose to work with repeat clients and those that are referred to me. I welcome yours.

In New York, a family would pay an additional $71,237 a year in order to live in the city and affordability is sending millennials to the suburbs. Surveys show that just 15 percent of millennial buyers bought in an urban area, down from 17 percent last year and 21 percent two years ago.

In the inner-ring New Jersey suburbs closest to Manhattan, the markets are so brisk that many have less than three months’ worth of inventory vs. the 2012 market with the more typical range of a four-to-eight-month supply.

Compared to other parts of NJ, appreciation is much more robust in the economically strong commuter suburbs closest to the city, such as Jersey City, Hoboken, Glen Ridge and Ridgewood.

Millennials prize shared community amenities and are considering townhouses at higher rates than other generations. Now that they are buying, and moving into suburbs, they are changing the way we consider what a suburb looks like.

So whatever your preference, New York or New Jersey, I can help you or someone you know. Contact me at: Maggie.Ocampo@gmail.com