There was a noticeable bump in the number of new homes to hit the market for the month ending in May and the trend is continuing for the first two weeks of June. Homeowners who have been sitting on the sidelines for various reasons are deciding to take heed of the never ending message that there may never be a better time to sell your home than in today’s market. With still historically low inventory, sellers will find they are in a position to get once in a lifetime top dollar for their homes. This would be bolstered by sales prices for the month of May within striking distance of the all time highs that were only set a few months ago.

Sellers are taking their chances and listing their homes on the high side, with an average list price for the new homes coming on for the month of May at $770,000. The good news for buyers is that there has been an increase in inventory, the highest we have seen in almost a year with 65 houses for sale at the time of publishing in the towns of Teaneck, Bergenfield and New Milford.