There were buyers out in August, but they were generally frustrated by the lack of inventory. We encouraged them to hang in there until mid-September when more inventory would come on the market, which it now has, and there are some good values to be had.

August numbers tell the story for the close of summer. There were only 114 listings for sale at the end of the month. That’s the lowest number since January 2005!

45 houses closed in August at a median price of $651k. Average sales prices exceeded ask by 3% and days on market was a short 37 days, again reflective of low inventory. (Source: Garden State MLS. Not reflective of non-multiple listed homes.)

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Call me with your questions and for additional information.

All the best, Rich