A Decade in Real Estate:1999-2009
Thursday, December 31st, 2009
If you are reading this, you are probably one of the 90% of buyers who searched for a home online this year. According to the National Association of Realtors only 37% performed this activity 10 years ago. Here are 7 stats that have changed – or not changed over the past decade:
- 1999: 37% of buyers searched for a home online. 2009: 90% of buyers searched for a home online.
- 1999: median home value is $137,600. 2009: median home value is $172,600
- 1999: 82% of buyers purchased detached, single family homes. 2009: 78% of buyers purchased detached, single family homes.
- 1999: 46% of buyers choose suburban neighborhoods. 2009: 54% of buyers choose suburban neighborhoods.
- 1999: 68% of buyers were married couples. 2009: 60% of buyers are married couples.
- 1999 and 2009: the median age for buyers was 39.
- 1999 and 2009: “neighborhood quality, affordability, and convenience to work and school have consistently been top priorities.â€
I bought my Montclair home just over a decade ago –11 years to be exact– and it has doubled in value, current market conditions notwithstanding. Happy to be living here in Essex County, NJ and not where the median home value has increased by a mere 25% (see #2, above).
(Lani Rosales, December 31, 2009, Agent Genius Blog)

Last week I received my 2008 Homestead Rebate Application. While I dutifully filled out the worksheet, I remembered my rebate from last year as being very minor, but better than nothing. Lot and block number? Check. Filing status number? Check. NJ Homeowner as of Oct 1, 2008? Check. Only upon reading the fine print did I realize that I am no longer eligible. As it turns out, one of the casualties of NJ’s 29 Billion dollar budget is the