Happy FRIDAY Cranford!!!
Just a quick observation about inventory levels in Cranford this morning. We have currently 84 homes listed for sale, including those in attorney review. A few months back we had close to 100 listings. This drop in inventory can be attributed to a few things. First, there has been a very active sales market lately in Cranford, thus selling off the properly priced homes quickly. Second, the summer is here, and less sellers seasonally list in the summer, as vacations and preparations for the following school year keep a lot of listings on the sidelines until fall.
Nonetheless, Team Carroll is watching the inventory carefully, and my best advice is that if you see a home you really like, make a competetive offer, because with less inventory and a similar amount of buyers, it could be gone quickly if it is priced properly! Yes, there are still homes for sale that are listed above their market value, and just like a few months back, these will sit on the market until they are in a range that a buyer is willing to pay.
Thanks for reading, and have a great weekend!
Sean Carroll - Realtor, Team Leader
"Team Carroll" of RE/MAX Classic Group
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Team Carroll - We specialize in Cranford, Westfield NJ and surrounding areas as THE local experts on the Cranford and Westfield NJ Real Estate Market. Certified Distressed Property Experts (CDPE)
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Thank you for sharing your insights on the Cranford NJ market.
Team Carrol:
I have been writing since April 8th 2008 that we are bottoming out and have noticed that our markets, Bergen county New Jersey are moving since.
If you are interested in the back ground to this type of forecasting check out my blogs.
I also forcasted late last night a top in oil now. I believe it is doing it today and will probably finish on this spike up as we speak. This should help market psychology in real estate also.
Good Luck in Cranford.
Richard Stabile
Richard thanks for checking in on my blog. I will definitely look at yours, as I am interested in this type of data. I hope you are right about oil....especially for the psychology you mentioned.
Jim thanks for your encouraging words