Time to continue with the North Jersey Weekly Residential Inventory Update.
GSMLS (SFH, Condo, Coop)
Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties
1/11 – 11385
1/18 – 11696 (2.7% Increase this week, 6.2% since Jan 1)
NJMLS (SFH, Condo, Coop)
Bergen, Essex, Hudson, Passaic Counties
1/11 – 5370
1/18 – 5565 (3.6% Weekly Increase)
MLSGuide (SFH, Condo, Coop, does not include Multis)
1/11 – 1735
1/18 – 1782 (2.7% Weekly Increase)
Inventory is picking up pretty rapidly. A quick glance at the stats looks like it’s a combination between sales dropping off quickly and new inventory coming on. I am going to dig a little deeper into details, look for an update in a few days.