The New Jersey Skinny 1st Quarter, 2015 - Inventory Needed!

By
Real Estate Agent with Coldwell Banker, Westfield, NJ

Housing Market

The New Jersey Skinny
1st Quarter, 2015

Inventory Needed!

Predictions for 2015 have a mixed bag after the first quarter.  While pending sales were up, indicating more activity in the market, there is still a lack of inventory in many markets.

This need for listings means that there is less for the Buyer pool to choose from, which puts upward pressure on prices.  This is shown by the increase in the list price to sales price ratio.

Keep an eye on stats such as Days on Market, Absorption Rate, and List Price-to-Sales Price Ratio for insights into where things are headed throughout the year.

 

If you are thinking about making a move or have any real estate needs, please CONTACT ME!!

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