Just like our clocks this weekend in the majority of the country, the housing market here in Toms River, Bayville, Manchester & Ocean County will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in our market area right now is what is holding back the market.
Many potential sellers, in Ocean County and across the nation, believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions. Sound familiar?
That hasn’t happened this year.
Demand for housing in Ocean County has remained strong as mortgage rates have remained near historic lows. Even with the recent increase in rates, buyers are still able to lock in an affordable monthly payment. Many more buyers are jumping off the fence and into the market to secure a lower rate.
The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2017 all fell in April, May, or June.
Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.
If you are planning on selling your Ocean County home in 2018, let’s get together to evaluate the opportunities in our market.