Wednesday, May 17, 2006

Northern New Jersey Residential Inventory Update

GSMLS
Single Family Homes, Condo, Coop
(Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties)

5/10 - 16,539
5/17 - 16,846 (1.9% Weekly Increase)

NJMLS
Single Family Homes, Condo, Coop
(Bergen, Essex, Hudson, Passaic Counties)

5/10 - 8,101
5/17 - 8,217 (1.4% Weekly Increase)

MLSGuide
Single Family Homes, Condo, Coop
(Hudson County)

5/10 - 2,351
5/17 - 2,344 (Flat)

10 Comments:

Blogger grim said...

Inventory growth slowed a bit from the blistering growth we have seen over the past few weeks. I have not yet looked into the underlying numbers to determine the nature of the change.

grim

5/17/2006 12:29:00 PM  
Blogger Metroplexual said...

Still, 1.4 % to 1.9 % increase is on the run up in inventory.

Is there a way to capture FSBO's? I have been seeing alot of them up this way. Seems like way more than last year.

5/17/2006 01:01:00 PM  
Anonymous Anonymous said...

Where does this data come from? I would like to look up the data for South Jersey, where I live.

5/17/2006 01:38:00 PM  
Blogger grim said...

This data comes from the Garden State MLS, the New Jersey MLS, and MLSGuide systems.

South Jersey is covered by different MLS systems. Some systems make data publically available, others do not.

Here is a blog that covers some South Jersey counties..

http://www.realestaterox.info

Rox is a real estate agent who regularly contributes to this blog.

grim

5/17/2006 01:47:00 PM  
Anonymous Anonymous said...

For the curious in Bergen County, here are the number of residential listings NOT including condos & co-ops from NJMLS

03/03 3,132
03/10 3,230
03/17 3,337
03/23 3,432
03/30 3,543
04/05 3,628
04/12 3,706
04/19 3,781
04/24 3,856
05/08 4,082
05/15 4,174
Today 05/17: 4,230

Use the word, spread the word: Bubble.
To paraphrase Robert Shiller, perception alone can cause the market to turn.

5/17/2006 01:49:00 PM  
Anonymous Anonymous said...

The Housing Bust started summer 2005.

The floor is about to fall out anyday now.

BOYCOTT HOUSES

Booooooyaaaaaaa

Bob

5/17/2006 02:02:00 PM  
Anonymous Anonymous said...

Run for the exits Bubbleheads.

Oh you decided to Wait until next spring selling season in 2007.

You'll regret it.

Housing price coooollapse going to happen any day now any day now.

Babababababababa BOYCOTT RIPOFF HOUSES.


Boooooooyaaaaaaa

Bob

5/17/2006 02:05:00 PM  
Anonymous Anonymous said...

Housing price floor about to cave in. JUMP! Run Sell...PAPAPAPPAPAPANIC!!!!!!

Boycott Houses!

Booooooyaaaaaaa

Bob

5/17/2006 02:13:00 PM  
Anonymous Anonymous said...

> Here is a blog that covers some South
> Jersey counties..

> http://www.realestaterox.info

Thanks grim! According to this site there are still bidding wars(!) for houses under $300K. I find this depressing, as I was hoping for a correction here in Burlington County before I buy a house. I don't feel that the fundamentals here support the doubling of house prices that occurred over the last 5 years.

5/17/2006 02:39:00 PM  
Anonymous Anonymous said...

Here's a question. If someone is looking to buy (upgrade) in the next 12 months and has an opportunity to sell now, would you recommend sell and rent for a year and try to capitalize on depressed values? Or would you say buy now and avoid the potential of higher interest rates.

5/17/2006 03:23:00 PM  

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