Contact Us

Anat:   (201) 341-4765
Eran:   (201) 390-8854
Office:   (201) 894-8004 Ext. 541

 

Keller Williams Town Life
25 Washington Street
Tenafly, NJ 07670

Meet Anat Eisenberg

Anat EisenbergAfter hundreds of transactions closed Anat is still passionate about real estate and it shows...

Anat ranked #8 out of 8000+ New Jersey MLS agents with well over $220 million in total sales during the six-year period of 2010-2015. Anat has closed over $415 million in real estate sales over the years.

Anat Eisenberg is the #1 ranked agent in Tenafly for combined sales in 2010-2015 exceeding $145 Million sales.

Bergen County NJ Real Estate Leader
Anat Eisenberg - Tenafly Real Estate Agent
201.341.4765

Sold DDMenu

You are here:  Bergen County Homes > Blog > February 2013 > Bergen County Home Supply Lowest in Seven Years Just Before The Key Selling Season

Blog

Bergen County Home Supply Lowest in Seven Years Just Before The Key Selling Season

Home Inventory Lowest in Seven Years

Home Inventory Lowest in Seven Years

The number of homes for sale in New Jersey  fell to a 7-year low in January,leaving would-be buyers chasing a shrinking supply of homes just before the spring selling season.

Unsold inventory in the state declined 18% to the levels of 2005  at the height of the housing bubble. The combination of rising demand and falling supply portends slim pickings for home shoppers during the season which kicks off in March and traditionally is the year’s busiest time for transactions

The current level of unsold inventory is 7.3 months of sales compare to 10.7 months of sales a year ago. We see that in select  East Bergen County towns there is a shortage in properties of under $1 Million and a relative abundance of unsold homes in the $1 Million and higher range.

More competition is good for home owners who saw their property values decline during the last six years. Coupled with the forecast of mortgage rates inching up will likely accelerate the trend toward market stabilization and modest price increases.

According to the Otteau report  the level of unsold inventory for properties priced

  • $400 to $1,000,000 is about 6.5 months of sales.
  •  $1,000,000 to $2,500,000 the rate of sales is 11 months of sales
  •  $2,500,000 and higher it is 18 months of sales 

Below is the current inventory ( as of 2/22/2013) of single family homes in select towns  showing the total and the number of homes priced $1 Million to $2 Million and, $2 Million and higher.

Town

 

Homes

 

$1-$2Million

 

$2Million+

Tenafly

 

61

 

21

 

12

Alpine

 

20

 

2

 

18

Closter

 

37

 

7

 

3

Cresskill

 

44

 

10

 

13

Demarest

 

30

 

9

 

4

Englewood

 

110

 

23

 

13

E Cliffs

 

34

 

18

 

16

Total

 

336

 

90

 

79

%

 

100%

 

27%

 

23%