At the current rate of sales compared to total inventory we have entered back into hyper-drive. I don’t think that we will see another week like last week again for awhile. We better not, if it keeps up we will sell over 200 houses in a month and there are only 237 on the market right now. 30% of the inventory is in the outlying areas while 90% of sales are in the core. All this is to say that we only have 3 1/2 weeks worth of inventory right now in the core area. in the whole borough there is just over 4 weeks of inventory. That is a pretty crazy situation.
If you want to list your house you should do it soon… I don’t think this hot market will last. Interest rates are still going up. I won’t be surprised if they are at 7.5% by the end of summer, maybe higher. You would think that would slow things up.
Call us if you want to sell or buy a house. Just go to our contact page here: Valley Market Team See All our listings here: https://valleymarket.com/featured-valley-market-listings/
PS I mentioned a link to sign up for the market memo…if you are reading this you already have it, but you can forward to a friend and they can sign up here:https://app.bombbomb.com/app/form/?form_id=43b8c99a-4fcf-8eee-1c6f-a348e70a2ff4