Why This New Jersey Market Is Actually Healthier Than It Looks

By William “Bill” Boswell

Bill is widely known as one of New Jersey’s most sought after real estate agents and is a sales associate of Keller Williams Prosperity Realty.

There’s a lot of frustration with the New Jersey real estate market right now, and I understand it completely, so let me offer a little perspective I think will help.

The last five-plus years were a fake market. After COVID, we had such an extreme imbalance of supply and demand that once a transaction was in place, it was pretty much effortless, most of the time, to carry it all the way to closing. That felt normal because it went on for years. It wasn’t.

Zoom out, and that effortless market is the rare exception. When you look at the actual history of real estate in New Jersey, the vast majority of the time, closing a deal takes real energy, either putting in the work up front or actively keeping the transaction together along the way. That’s simply how real estate has almost always worked here.

Here’s why friction happens. When a market is balanced, when both the buyer and the seller have some genuine strength, there have to be real negotiations to move a deal from attorney review to under contract to the closing table. Friction isn’t a sign something is broken. It’s the natural byproduct of a market where both sides actually have a say.

So the best advice I can give you is to expect some friction. Whether you’re buying or selling, that one shift in expectation changes everything, because when you expect friction, it stops triggering the frustration that comes from being caught off guard. You start to see the bumps as part of the process rather than a sign the process is failing.

This is also where a great agent earns their keep. The real value I bring to a transaction isn’t in the easy deals, it’s in the ability to work through the tumultuous moments, to guide clients through the challenging situations, and to get them across the finish line. That is, ultimately, what we’re paid to do, and it’s the part that a frenzied, effortless market had let everyone forget.

And in all likelihood, this is the new permanence. So I’d encourage you not to view this market as something temporary and difficult that you’re just waiting out. A balanced, much healthier market is where we are now, and for buyers especially, that’s genuinely good news, because it means you finally have some choices again here in New Jersey. If you’d like to talk through what this market means for your specific move, I’m here to help. Call or text me at 973-224-4605, email me at northjerseyluxury@gmail.com, or visit blog.theomegarealestategroup.com.