Here’s a quick market update for Morris County last April 2021.
From March 2021 to April 2021, there was a jump in inventory by 6%, which is a good news. Sales is also up by 10%, but the months of inventory went down by 4%. In numbers, for April, we have 921 new active residential listings, 522 homes sold, and 1.76 for months of inventory.
So even though inventory is being added, home sales are outpacing the amount of inventory, it just means that we are still in the seller’s market which is a great time to list and sell your home!