I was wondering if anyone was noting the market trends in their surrounding counties that I have in my area of South Jersey...
Most counties are experiencing some slowing of the number of homes sold / year from their 2005-06 highs (which I translate to number of buyers, about 15-20%), but the number of homes available for sale have not decreased proportionately.
This appears to have increased the average days on market (up until closing).
The increase in supply vs. demand usually results in lower prices, but I'm seeing mixed results, ranging from minor average price decreases to little significant change to continued price increases.
I was curious as to what your county-wide experience is and how you interpret the statistics?
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Year-to-Month Residential Past Sales Trends
0 comments • Lawrence Yerkes - Broker Associate, Southern New Jersey Real Estate Services • February 25 2008 01:24PMComments
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