The New Jersey Skinny - Report for August, 2015

Real Estate Agent with Coldwell Banker, Westfield, NJ

Housing Market

The New Jersey Skinny - Report for August, 2015
Supply and Demand

Last months numbers are a lesson in simple economics.  Overall, supply was down with fewer listings on the market.  However, the number of pending sales and closings was up slightly.  This combination is a forecast for rising home prices.

The sales data did bear this result, with prices creeping up, a higher list-to-sales-price ratio, and a decrease in the absorption rate.

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.


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