We closed out the month of November with 78 homes on the market in Teaneck, Bergenfield and New Milford and have been following closely to see if and how far that number dropped. The answer: Not much at all. There are currently 73 houses on the market as of the writing of the article on Dec 11. For comparison’s sake, last year during the month of December there were 51 houses on the market. This represents a 44% increase in housing from December of last year.

A few weeks ago we reported that the curve is heading back up from the lows experienced in the early months of 2023 and the rise in housing stock continues to show signs of strength. This is true even in what are traditionally some of the slowest times of the year, the dead of winter months of December, January and early parts of February. I am focused on presenting an unbiased article, as my husband likes to say quite often, “just the facts, ma’am,” (Joe Friday for

those who remember), but I feel like people across the board will welcome this information.

Such a tight real estate market really helps very few, as even those who are looking to sell, face the same restrictive market conditions wherever else it is that they are looking to relocate.

So as we approach the longest nights of the year, here at V&N Realty we will constantly be going over the data and reporting back with updates as we look forward to the spring market. All eyes on February!

Nechama Polak is the Broker of Record and Owner of V&N Group LLC located at 1401 Palisade Avenue in Teaneck, New Jersey. Send your thoughts and comments to [email protected] or call 201 826 8809.