It is spring everywhere you look! The trees are in full bloom, the ants and bees are busy looking for their new homes and the landscapers are even taking a few minutes away from making their blowing and mowing noises to plant colorful flowerbeds. You know it’s spring because people are outside, drinking their morning coffees, jogging with their friends and I have even heard that people ate Friday night dinner outside last week before the rains swept in.
Ahh … but this column isn’t just about the seasons and the delight that comes with each changing one. We must proclaim “It is spring” because finally, finally people are putting their houses on the market to sell!!
A chart is worth a thousand words, and the charts are showing that the number of homes entering the market is headed in one definitive direction, and that is up. What does this mean for the “state of the market?” Prices are still holding steady and high. The average sale price of a home in Teaneck, Bergenfield and New Milford is still solidly in the mid $700s and this past March saw the highest-ever average sale price with the number at $770,000. Buyers are still coming out in force and we will follow in this column to see if the increase in inventory will begin to catch up with the demand.