Happy Father’s Day!
Suburbanites in the towns we study, have been reluctant to list their homes for sale this year. For some it is caution and for others they believe it is a strategy. Meanwhile, buyers from more populous areas in NJ and NYC have been excited to move to greener environs. So, the supply and demand ratio has been more in favor of sellers this year than last. That could change as sellers begin to come out of the woodwork.
Looking at the universe of Chatham, Cranford, Fanwood, Madison, Millburn, Mountainside, Scotch Plains, Short Hills Summit, Warren, Watchung and Westfield:
In 2019 there were 1186 homes for sale on June 17th, and based on the sales pace, that’s was a 7 Month Supply.
On the same day this year, there are 791 homes for sale, and a 4.6 Month Supply. A six month supply is widely considered to be the watershed between a Buyers’ and Sellers’ Markets.
Please click below for the market update of interest to you:
Westfield by Grade School:
Scott Gleason firstname.lastname@example.org
Coldwell Banker RealtyLuxury Homes for Sale in Westfield