Local inventory in the Somerset Hills and Morris Hills area is at a level of about 5 or 6 months supply.
Basking Ridge, for example, is very tight – 41 homes came on the market last month and several are already in Attorney Review. As of today, there are 100 homes Actively listed in Basking Ridge, with another 45 that are under contract.
The Spring Market appears to be here sooner than usual.
Low inventory and low rates means a potentially interesting spring for home buyers and sellers, and agents too, as we seek to match them up together and keep everyone happy.