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Guest
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 Posted: Fri, Oct 16 2009, 3:55 pm EDT Post subject: Too much housing inventory on the market |
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Wow, it seems like homes for sale inventory in Cranbury is expanding way faster than sales. That can't be good.
Has anyone looked at how many homes have been selling a month versus our current inventory. On first look (without doing a full search) it feels like we have over a year of inventory on the market, which new stuff showing up every month driving the inventory glut even worse. |
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Guest
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| Posted: Fri, Oct 16 2009, 4:08 pm EDT Post subject: Re: Too much housing inventory on the market |
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| Yep, the number of houses for sale in Cranbury has increased recently. The interesting part is no price reduction for high-end homes since summer (except the one on Petty Rd.). Also, all the homes in Shadow Oaks (there is a new listing in the Parkview area) were sold before the school started this year. |
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Guest
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| Posted: Fri, Oct 16 2009, 6:16 pm EDT Post subject: Re: Too much housing inventory on the market |
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| Guest wrote: | | Yep, the number of houses for sale in Cranbury has increased recently. The interesting part is no price reduction for high-end homes since summer (except the one on Petty Rd.). Also, all the homes in Shadow Oaks (there is a new listing in the Parkview area) were sold before the school started this year. |
There is definitely a seasonality to sales in Cranbury since a vast majority of those moving in are doing so for the schools, especially in a neighborhood like Shadow Oaks. If I ever sold, I would list in the spring or late spring and do reductions by summer if necessary. Fall is the worst season to sell in Cranbury because other than relos and other exceptions, most parents with school aged kids aren't looking so early in the new school season.
I agree it was interesting the high end homes didn't do any reductions. Maybe none of the people are in a hurry to sell and can wait undefinitely for the right buyer. It may take a year or two but some people don't need to sell. |
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