Home prices were up both year over year and month over month for October 2016 according to a report released by CoreLogic, a global property information and analytics provider.
Home prices nationwide, including distressed sales, increased year over year by 6.7 percent in October 2016 compared with October 2015 and increased month over month by 1.1 percent in October 2016 compared with September 2016, according to the CoreLogic Home Price Index Forecast.
The CoreLogic HPI Forecast indicates that home prices will increase by 4.6 percent on a year-over-year basis from October 2016 to October 2017, and on a month-over-month basis home prices are expected to increase by 0.2 percent from October 2016 to November 2016.
The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
“While national home prices increased 6.7 percent, only nine states had home price growth at the same rate of growth or higher than the national average because the largest states, such as Texas, Florida and California, are experiencing high rates of home price appreciation,” said Dr. Frank Nothaft, chief economist for CoreLogic.
Weichert office recognized
Joe McDonald, regional vice president of Weichert Realtors, announced that the Princeton office was recognized for exceptional performance in November.
The office led its Weichert sales region, which is comprised of locations throughout Somerset, Morris, Mercer and Sussex counties, for resales and resale dollar volume.
In addition, sales associate Ingela Kostenbader from the Princeton office was individually recognized for her success. Kostenbader was the top associate in her region for resale dollar volume during the month.
Kostenbader can be reached in Weichert’s Princeton office at 350 Nassau Street, or call (609) 921-1900 for more information.
The following listings of recent residential home sales are based on public records and tax files. The number in parentheses after the closing price indicates the amount it was above or below the original listing price.
31 Dogwood Drive. Seller: Rachel Kim & Han Young. 4BR single-family house. $760,000 (-$25,000).
243 Hampshire Drive. Seller: Maqian & Jishen Zhao. 3BR townhouse. $337,000 (-$21,600).
632 Sayre Drive. Seller: Omkar & Madhavi Paratkar. 2BR townhouse. $413,000 (-$20,000).
11 Madison Drive. Seller: Brian & Mary Ann Giambagno. 5BR single-family house. $725,000.
8 Titus Lane. Seller: George & Nina Ikeda. 5BR single-family house. $605,000 (+$10,000).
16 Brians Way. Seller: Anthony & Margaret Pei. Buyer: Seema Mittal & Prabhjot Singh Saini. 4BR single-family house. $646,000 (-$14,000).
310 N Post Road. Seller: Judy & Anthony D’Antuono. Buyer: Parijat & Dipti Sinha. 5BR single-family house. $520,000 (-$80,000).
259 Hendrickson Drive. Seller: Richard Stults. 2BR single-family house. $420,000 (-$40,000).
37 Arnold Drive. Seller: Abbas & Kaniza Banglawala. Buyer: Bhavna & Sanjeev Nigam. 4BR single-family house. $705,000 (-$14,000).
26 Newport Drive. Seller: Susan & Ira Akselrad. Buyer: Terrence & Jill Brog. 5BR single-family house. $1,100,000 (-$125,000).
110 Aspen Drive. Seller: Alan & Donna Scheer. Buyer: Bhuvaneswari Balasundaram & Kumaramurthy Sivaramakrishnan. 5BR single-family house. $900,000 (-$150,000).
102 Sequoia Court Unit 8. Seller: Estate of Susan Dever. Buyer: Arvind Chande & Lajja Bhagawan. 2BR condo. $261,000 ($8,900).
2 Dogwood Court. Seller: Jeffrey & Annette Ransom. Buyer: Mani Kumari & Padma Raj Kumar Mogali. 4BR single-family house. $700,000 (-$99,900).
4 Stuart Lane W. Seller: Vijay & Indira Kottam. Buyer: Dehali Bandyopadhyay & Pranojit Chanda. 4BR single-family house. $571,000 (-$28,000).
92 Saratoga Drive. Seller: John & Deborah Verbich. Buyer: Kumar Kiran Raheja & Sonia Sethi. 4BR single-family house. $685,000 (-$15,000).
108 Lowell Court Unit 6. Seller: Satyajeet Roy & Rama Dahal. Buyer: Tianyuan Wang. 2BR condo. $280,000 (-$7,500).