The real estate market is constantly evolving, and recent reports from the Wall Street Journal highlight a clear divide in market conditions across the country. While some regions are experiencing a dip in prices and an increase in inventory, others remain as competitive as ever, with tight supply and high prices. Our area firmly falls into the latter category, where demand is not just strong—it’s overwhelming.
Anecdotally, the sheer volume of interested buyers has been nothing short of remarkable. Over the past two weekends, I hosted open houses that saw an incredible turnout. I must have walked up and down the stairs more than 40 times as potential buyers streamed through, eager to find their next home. The excitement in the air in and around the open house was undeniable (I’m sure the neighbors didn’t appreciate the parade of cars), underscoring what we’ve been seeing in our local market: Buyers are out in force, and they are ready to act.
Even with new listings steadily hitting the market, demand continues to outpace supply. Just this past week, our company listed five new homes, and many more are coming down the pipeline. Yet, even with this influx, the competition remains fierce. Well-priced, move-in-ready homes are being snapped up quickly, often with multiple interested buyers vying for the same property.
For sellers, this is an incredible time to take advantage of the market conditions. Low inventory and high demand create an optimal selling environment, leading to strong offers and favorable terms. Buyers, on the other hand, need to be prepared to move decisively. With homes moving quickly, having financing in order and a clear strategy in place is essential.
As we head further into the season, all signs point to a continued seller’s market in our area. If you’ve been considering making a move—whether buying or selling—now is the time to strategize and take action. The demand is here, and the market is moving fast.
Nechama Polak is the broker of record and owner of V&N Group LLC, located at 1401 Palisade Avenue in Teaneck. Send your thoughts and comments to
[email protected] or call 201 826 8809.
