Are There Actually More or Less Homes for Sale Right Now?
If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a look below.
- U.S. inventory is up 5.1%
- N.J. inventory is up 3.0%
- Ocean County inventory is DOWN 22.45%
What’s the Truth About Today’s Housing Inventory?
While the story for the past few years has been how few homes are on the market, recent national data may leave you feeling a bit confused. That’s because Realtor.com shows inventory is actually growing a bit month-over-month in many parts of the country, but not in Ocean County.
Does That Mean the Days of Limited Inventory Are Over (or coming to an end)?
That might make you wonder: are the days of tight housing supply behind us? The short answer is no. Context is important. While you may see headlines saying inventory is up across the nation, data also shows there are still significantly fewer homes for sale than there would usually be in a more normal market.
Search for Homes in Ocean County
The statistics below compares the latest active listing counts (homes currently available for sale) with 2022 and the most recent normal year in the housing market (2019):
- Manahawkin - Down 16.9% since last year and down over 54% compared to 2019
- Barnegat - Down 2.3% since last year and down over 46% compared to 2019
- Waretown - Down 3.4% since last year and down over 52% compared to 2019
- Lacey - Down 18.0% since last year and down over 52% compared to 2019
- Berkeley – Down 4.5% since last year and down over 40% compared to 2019
- Toms River – Down 14.5% since last year and down over 50% compared to 2019
- Brick – Down 26.3 since last year and down over 52% compared to 2019
As Lance Lambert, Founder, ResiClub Analytics, explains:
“Housing market inventory is so far below pre-pandemic levels that October's big jump is still just a drop in the bucket.”
What does that mean for you? Remember, real estate is hyper-local. Partnering with a trusted real estate agent will help you gain a better understanding of the inventory situation in your specific market.
What’s Your Ocean County Home Worth? Get a free, instant valuation
If you’re looking to buy, you may have slightly more options than you did in recent months in other parts of the state and county, but you still need to brace for low inventory. A great agent will be able to share their expertise and key strategies that have helped other buyers navigate today’s ongoing low housing supply.
And, if you’re trying to sell, rest assured you haven’t missed your window of opportunity to potentially get multiple offers or see your house sell quickly. While inventory has ticked up some nationally, overall, it’s still low, especially in Ocean County.
Bottom Line
If you’re looking to buy or sell a home, please contact me so you can make sure you’re up to date on all the latest trends that could impact your move, including today’s housing supply.
Karl Hess provides expert real estate services to residential buyers and sellers in Ocean County. Contact us today for more information on Ocean County Real Estate and for professional assistance navigating this complex home market.