3589 Homes for sale on the MLS
Each week we look at the MLS for eastern Monmouth County to see where inventory levels are. Today, there were 3589 homes for sale compared to 3509 last week. Inventories are growing rapidly here at the Shore. As a number of news stories have mentioned and the other blogs keep pointing out, inventories of unsold homes are growing all over the country at a pretty rapid pace.
This past winter, many housing bulls were predicting that sales activity would increase in the traditionally busy spring selling season, while I guess that could still happen here, I don’t think it is happening in parts of the country where spring starts early. I have not seen any indications that sales in Florida or other warmer states have picked up with the arrival of spring and warmer weather in those places.
This past winter, many housing bulls were predicting that sales activity would increase in the traditionally busy spring selling season, while I guess that could still happen here, I don’t think it is happening in parts of the country where spring starts early. I have not seen any indications that sales in Florida or other warmer states have picked up with the arrival of spring and warmer weather in those places.
posted by Little_Silvered at 7:57 PM
3 Comments:
Yet still, prices do not seem to be coming down. I live in Western Monmouth and I follow all the new home developments around my area:
- Manlapan Estates, Centex, (they keep saying only 7 or 8 lots left for the last 12 months now
- Two Toll Brothers developments seem to be almost sold out, Mcmansions in the truest sense of the word....too bad the farmers sold out... :-)
- Heritage Hill Estates, 11 sold out of 21, seems to have been this way now for months
- the list goes on...
but no price drops yet....I guess the next 3 to 5 months will be the real test for this bubble. I'd like to move up some day to a little bigger place someday but NOT AT THESE PRICES !
good luck all.
-1200sqft
I live in Little silver ,all I ever see on Real Estate signs is "UNDER CONTRACT" ....in L.S,Rumson,and even in Fair Haven...homes still seem to be selling
Centex did have a "one day sale" a couple of weeks back. They knocked off anywhere from $15K to $50K per house according to the ads they placed.
I would imagine those deals are still available. Also, pressure is really just starting to build.
Sales have slowed throughout the country but even where sales have slowed, prices have pretty much held and in some cases continued to rise. The psychology hasn't quite caught up with the market, but 40% vacation home and investment property sales can't go on forever.
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