Although the number of people relocating has been slowing recently, we're still talking about a large segment moving here. In most cases, these people don't want a single-family house. If they're going to buy at all, they're more attracted to the condo-townhome market. That's not the case when you purchase a condo. As with any residential property, the location of the home influences the market value.
Value appreciates relative to a particular neighborhood.
There are many variables that influence property values, such as proximity to rail service. When the Midtown Direct came to Morris County, it increased values all through that corridor. The same is expected to happen when Midtown Direct comes to Sussex County in a few more years.