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Sellers: Your Shore House Could Be an Oasis for Buyers Seeking More Options

Sellers: Your Shore House Could Be an Oasis for Buyers Seeking More Options


October 18th 2021

Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale.

According to the New Jersey Association of Realtors, (NJAR), Cape May County's housing inventory sits at only a 2.8-month supply. To put that into perspective, a neutral market typically features a 6-month supply. That places today’s market firmly in the sellers’ market category.

That data also shows today’s inventory of single-family homes is trailing behind the level we saw last year (see CHART below):

Because of the ongoing supply challenges, buyers can feel like they’re wandering across a vast, empty desert when searching for their next home. That means your house could provide an oasis for buyers thirsty for options – and it could increase the chances of buyers entering a bidding war for your home.

But, don't wait because, as you can see in the chart, inventory has increased each month since May.  That means more competition from more sellers.  

The latest Realtors Confidence Index Survey from NAR shows houses are receiving an average of 3.8 offers. A multiple-offer scenario lets you select the best offer and gives you incredible leverage when you sell this fall.

Bottom Line

Buyers today are looking for relief as they wander today’s inventory desert. Listing your house this fall – before more options appear – gives your house the best chance to be noticed by multiple buyers. Let’s connect today so your house can stand out as the oasis it truly is.

Dipeso Group - Jersey Shore Realtors
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