If you look around your neighborhood you might find there are no for sale signs around. The current real estate market is experiencing a significant lack of homes for sale, yet demand from buyers is still high. Many realtors use the phrase “low inventory” to describe what is happening in the market. For better or worse this trend looks like it will be sticking around for some time.
Below are the number of homes for sale in a few highly populated areas in central New Jersey. As you’ll see, the numbers are staggering (information from the MLS):
10 homes for sale out of about 15,000 in Bridgewater
15 homes for sale out of approximately 6,000 in Holmdel
20 houses on the market out of about 13,000 in Marlboro
What does this mean for you? Slim pickings of homes on the market means the price of your home is skyrocketing even as you read this! If you’re looking to sell, now is a great time. We are happy to help connect you to a listing agent who can get you top dollar for your home. Be sure to follow us on Instagram (@petra_cephas) and Facebook (@petracephas) to stay up-to-date on the housing market!