Well-maintained, full of character and customizable in a location that blends urban and suburban living: That was the common status of two North Jersey homes that sold for hundreds of thousands of dollars over asking price within days of one another.
Located on opposite ends of historic Glen Ridge are 28 Oakwood Ave. and 15 Sommer Ave., both listed at the end of January by Amy Owens, realtor and team leader of the Amy Owens Real Estate Team at Keller Williams NJ Metro Group. The homes yielded selling prices of $999,999 and $852,500 — or $350,000 and $253,500 over asking — on April 1 and March 28, respectively.
“Just nothing had come on the market at the time, and I thought to put these two homes on the market on the same weekend,” Owens said. “One of the reasons that I put them both on the same weekend was because a lot of buyers won’t come out just to see one house. So, I explained to both of the owners that it’s good to have another house because you’ll get more buyers out and then they’ll decide which one is right for them.”
Each home did in fact attract more buyers, with the properties collecting a combined total of 64 offers during their time on the market.
Owens said this popularity is credited to the centralized location of each property, and that each home offered the opportunity for the next owners to make their own improvements and add personal touches.
“That’s something that all buyers should be looking for right now when they buy a house, especially since we’re in such a high market,” she said. “What’s the upside of the house? What can I do to add value to it?”
28 Oakwood Ave., Glen Ridge
28 Oakwood Ave, Glen Ridge, NJ 07028 | Zillow
Built in 1925, 28 Oakwood Ave. is a four-bedroom, two-bathroom side hall colonial-style home in the northernmost neighborhood of Glen Ridge. The property features a brick fireplace in the living room, a sunroom that can double as a home office or playroom, a finished basement, a fenced yard and a one-car garage. It is also located near Brookdale Park and the Glen Ridge Country Club.
Owens said that the previous owners of the home had opted to preserve some of the home’s character, rather than renovating the property to have a mainstream, modern look. She believes this played a big role in the demand for the home, as it felt warm and inviting to potential buyers.
“They didn’t bastardize the house,” she said. “There’s a beautiful marble used in the kitchen, which wasn’t pristine and perfect. You could tell it had been loved and used, but it was still really pretty.”
Cathy Miller, a realtor with Keller Williams NJ Metro Group who represented the buyers of the home, said her clients were relocating from Italy, having been transferred to New Jersey for work. They were specifically drawn to Glen Ridge because of its proximity to New York City for work, as well as for the area’s highly-rated school system.
“Interestingly, my clients were doing research and this area was coming up as the highest on their Internet searches, so that shows you also that there’s a lot of press about this area internationally,” she said.
Miller said her clients were ideally looking for a smaller home. She said that while the home on Oakwood Avenue was on the smaller side for Glen Ridge, it was a normal size property for her clients’ European standards.
Additionally, she said they were drawn to the property not only because it didn’t require a lot of money in repairs, but also because it had some features that reminded them of Italy.
“They told me they particularly felt at home in the house because it had some characteristics that reminded them of Italian properties, like the ribbon trim and the wood floors,” she said. “They also didn’t want an open layout. They wanted a kitchen that was more enclosed. Open layouts are a very American concept, and in European homes, that’s not really a concept that caught on. So, they liked the fact that the kitchen was a little more separate from the rest of the house.”
15 Sommer Ave., Glen Ridge
15 Sommer Ave, Glen Ridge, NJ 07028 | Zillow
The three-bedroom, two-bathroom colonial-style home at 15 Sommer Ave. is located at the southernmost end of Glen Ridge, near neighboring West Orange and East Orange. Built in 1937, the home offers a living room with a brick fireplace, a sunroom that opens to the backyard, a one-car attached garage and a spacious backyard with a patio.
“It has this great sunroom off of the back that looks over the yard, which is the perfect size,” Owens said. “It also has the opportunity for the new owners to make a true primary suite, and I think that’s something that appealed to a lot of people.”
Sara Whitley, a realtor on the Amy Owens Real Estate Team at Keller Williams NJ Metro Group, represented the buyers of the home. She said that the mix between suburban neighborhoods with large homes and spacious yards, as well as access to vibrant downtown areas, is what attracted her clients to Glen Ridge.
When looking at the property at 15 Sommer Ave., Whitley said her clients were attracted to the homes layout, as well as the fact that the property had not been overly updated. She said one of the biggest factors for them was that it was a clean slate for them to add in their own style.
“Part of what spoke to them was actually that the layout was almost identical to the home of their friends in Montclair. So, they felt kind of this kindred spirit with the home,” she said. “This home, while staged beautifully and maintained impeccably, certainly needed a bit more updating over time, and they were actually looking for something they could really put their mark on.”
During their home search, Whitley said her clients had put in offers on three other homes, including the property on Oakwood Avenue, but were not accepted. Because of this, Whitley said they had to regroup to determine what steps they needed to take to secure the home on Sommer Avenue.
“I think a lot of buyers get frustrated and feel like there’s some sort of bait-and-switch happening. I think that it’s important for them to understand that that’s not what’s happening. What’s happening is that the demand is simply extremely high and inventory is incredibly low,” Whitley said. “So, it’s really important to work with someone who can at least try and meet those expectations and guide you to what a winning number should be in a particular house.”
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.com.
Buying a home is likely one of the biggest financial decisions a person can make. Because of that, homebuyers often come into the buying process with a wish list of their most desired home features.
But, what was popular in the past might not be popular now, and homebuying trends have changed as we enter 2024. So, what popular home features might make a property a hot commodity? Here are a few:
Move-in ready homes
Before all else, more homebuyers are seeking properties that are move-in ready, rather than those that might require some updating.
“I think now people are getting a little bit more picky on what they want. They just want instant gratification,” said Max Stokes, a partner of the Fox & Stokes team at Compass Real Estate.
Stokes said buyers that are coming from luxury buildings in areas like Hoboken and Jersey City are used to having a fully finished living space. Because of this, he said more buyers are turning towards properties in less desirable locations as long as they’re move-in ready.
“When I bought my first house about 14 years ago, I just bought for the neighborhood and figured that everything else in the house I can fix over time,” he said. “I don’t hear that anymore. People would rather buy something in a location that might not be as desirable, but the home’s move-in ready.”
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Separated spaces over open-concept living
While the interest in open-concept layouts will likely never fully go away, Oakley said she’s seen more buyers interested in properties with designated spaces.
“Now I’m noticing that buyers want a little bit more separation and designation between the rooms and more closed spaces,” she said. “They still want a nice flow, of course, but just not that complete open box where you can see everything.”
Oakley said she’s seeing this trend in other areas of the home. For example, she said the trend of open shelving in kitchens is starting to go away, as more people are going back to wanting their items away and out of sight. Similarly, integrated appliances were predicted to be a popular interior design trend for 2024 specifically because they’re more hidden in our kitchen spaces, rather than being freestanding.
Multiple primary suites and first-floor bedrooms
Having a bedroom on the home’s first floor — a trend we saw driving up home prices in 2023 — and having multiple primary suites are increasingly popular features homebuyers are searching for in 2024.
Due to the relatively recent unpredictability of the real estate market across the nation, more homebuyers have been focused on finding a property that they’ll be able to spend the rest of their lives in. Having a first-floor bedroom will allow their properties to be more functional as they age. Additionally, more households have become multigenerational due to the costs of living, so younger generations are looking for spaces where they can accommodate elderly family members.
“I’m noticing with certain buyers that they’re looking for either a first-floor bedroom or the option of having a first-floor bedroom,” said Jamie Oakley, a realtor with Prominent Properties Sotheby’s International Realty in Franklin Lakes. “Thinking into the future and functionality for them, whether it’s the buyers themselves as we get older or thinking about family members who may be coming to live with them at some point.”
Homes with multiple primary suites were also predicted to be a big trend in 2024 due to more couples choosing to sleep in separate spaces.
“I’m hearing a lot of trends of people wanting two primary suites, so like couples who want to sleep separately but still want to live together, which is interesting,” said HGTV personality Noel Gatts, founder and principal designer of Beam and Bloom based in Bloomfield.
Multiple home offices
While home office spaces grew increasingly popular during the time surrounding the coronavirus pandemic, many homebuyers have been searching for properties with multiple office to accomodate more people working from home.
This is not only due to many companies continuing to work remotely, but also because more companies have implemented hybrid work schedules, meaning more people may be working at home, even if only for a few days a week.
“The work from home trend is definitely continuing, so having multiple home office spaces is definitely something that tops a lot of people’s lists,” Stokes said. “It’s becoming more than one because one person would be working from home, but now it’s the real deal where people, whether it’s even going back to the office, they still have the opportunity to work from home a couple days a week.”
A finished basement, or the option for a finished basement
Homes with a finished basement — or a basement that has the ability to be finished and used for different purposes — is something many homebuyers are seeking.
Oakley said many families are looking to incorporate more hang out and entertainment spaces in their home, such as game rooms, media rooms and playrooms, which are often common uses of basement spaces. Finished basements are also often used as an in-law suite or as a distinct living space for kids or other family members that may visit.
In older homes, Oakley said basement heights tend to be shorter, meaning there isn’t enough room for these spaces to be used for anything other than storage.
“I was actually showing a property recently that was a beautiful new construction home on an existing foundation and everything my clients were looking for,” she said. “Then, we went into the basement and they could hardly stand up in it, which for them was just a complete turn off because it wasn’t a space that they could use.”
Self-care amenities and spaces
Homes with self-care amenities or spaces the buyers can use for self-care activities has become more popular, Oakley said.
“I saw a house recently that had a cold plunge installed in it and that completed wowed the buyers,” she said. “So, spaces for a gym or a spa. Even with staging, I’m noticing that they might have yoga mats set up with little weights and things like that just to show what the space could be used for.”
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.com.