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Real estate market hits lowest inventory since 2005

Supply vs. demand make now the time to sell

Created date

February 25th, 2014
New Jersey’s low existing-home inventory seems to be mirroring a national trend. Median home prices have recently pushed higher because of this low inventory.
Real estate market cupboard is bare

With spring around the corner, the real estate market enters its strongest season in nearly nine years. According to a December 2013 report by the Otteau Valuation Group, “Home purchase demand in New Jersey rose by 23% year-over-year in November, marking the 26th consecutive monthly increase.”

What’s more, the report says, “…the supply of homes being offered for sale in New Jersey is at the lowest level since 2005.” 

“These statistics prove it’s a better time than ever to sell a home this spring,” says Susan Coulson, sales counselor at Erickson Living community in Tinton Falls, N.J. “If you’ve been waiting for the market to get right, now is the time.”

While the Otteau report says Bergen and Somerset Counties are currently experiencing the strongest market conditions in the state, Monmouth and Ocean Counties aren’t far behind. 

“Our residents have experienced phenomenal market conditions,” says Laurie Williamson, personal moving consultant for Seabrook’s Erickson Realty and Moving Services program, a complimentary service for priority list members. 

Solid track record

“Last year was phenomenal with an average of under 45 days on market, and we expect this year to be even better,” Williamson said in early January.

Williamson provides individualized support to priority list members moving to Seabrook—a list of recommended and trusted real estate and moving professionals, decluttering and staging assistance, and furniture placement and planning in their new home. 

“Joining the priority list isn’t just about getting the apartment home you want when it becomes available,” says Coulson. “It’s about gaining access to complimentary services and exclusive events that make moving easier.”