The luxury home market in Central Jersey is picking up because, according to one real estate agent, sellers are becoming more realistic and buyers sense better days ahead.
Gloria Nilson real estate agent Kelly Zaccaro recently closed the largest residential transaction in Rumson history when her client purchased the 10.4-acre, 18,000-square-foot Long Point estate for $12 million. She said waterfront properties in the area are moving at prices that are more comfortable for high-end buyers.
The Long Point estate is situated on a private peninsula in the Navesink River, and was constructed in 2004. Zaccaro said it is a unique property because of the details the architect designed — from the barreled ceilings to the style of molding — are well-thought out.
The sellers originally priced the home at $29 million when it went on the market last year, and by the time Zaccaro’s clients became interested, the price had been lowered to $20 million.
“The people that are selling are getting more realistic about what their house is worth,” Zaccaro said. “They’re able to meet at a price that works for both.”
Rumson has already had a fair share of $1 million and up properties sell this year. Currently, Zaccaro said, there is an inland eight-and-a-half acre estate listed at $13.5 million, and an older waterfront home listed at $10.9 million.