November 25th 2019

October's numbers are now official, and the main trend of 2019 continues on: low inventory and strong sales.  The market is continuing to present excellent opportunities for both sellers and buyers, especially with average interest rates at just 3.66%!

6 months supply of inventory is considered average.  Anything less is considered low, and anything over is considered high.  October's numbers show, for example, North Wildwood and Stone Harbor condo/townhomes at just 4.5 months, and Sea Isle condo/townhomes at 5.4 months.  There are no indications this is going to change any time soon! 

If you're thinking of buying, pay close attention and be willing to move forward when the right opportunity comes along (we encourage you to get pre-approved), because in this market it likely won't last long.  Prices are expected to continue increasing, and with low rates, waiting to get into the market will likely cost you over time.  Prices are not expected to be significantly effected due to any potential economic downturn.  In fact, prices have INCREASED in 4 of the last 6 recessions!

If you're thinking of selling, low inventory works in your favor, as does the fact that home buyers are eager to cash in on these still nearly-historically low rates.  If you've been considering listing your home, now could be an excellent time.