More houses hitting the market? (agents, sales, housing, condos)

[Fedupwiththis]

I'm in south jersey, and I have some zillow and redfin email alerts setup. In the spring these emails might have had 3-4 houses on them. Now I'm getting emails with 25+ houses. It seems that the number of houses for sale is increasing.

I've also noticed a number of these listings show "price drops" which again is the first time I'm seeing that in 2021.

Anyone else notice this? Could the housing market finally be cooling down a bit?

[oregonwoodsmoke]

There are always a lot more houses on the market in the summer where I am at.


Currently, there are not "a lot more" houses on the market, but there are more houses on the market than there were over the winter. Prices are still high and appear to be going up and decent houses sell really quickly, often within a couple of days. Really expensive upper end houses have historically taken a lot longer to sell but even those are moving quickly.


Forever and always, agents here have tested the market by seriously over pricing and then having a price drop in a couple of weeks if no one bites. So you can look on line and see several "price reductions" but those do not mean that prices are going down in this area.

[Hemlock140]

Originally Posted by oregonwoodsmoke

There are always a lot more houses on the market in the summer where I am at.


Currently, there are not "a lot more" houses on the market, but there are more houses on the market than there were over the winter. Prices are still high and appear to be going up and decent houses sell really quickly, often within a couple of days. Really expensive upper end houses have historically taken a lot longer to sell but even those are moving quickly.


Forever and always, agents here have tested the market by seriously over pricing and then having a price drop in a couple of weeks if no one bites. So you can look on line and see several "price reductions" but those do not mean that prices are going down in this area.

Same here.

We are running a steady 2-3 signs in our area, but they still get multiple offers over asking within a few days. Most are turning out to be empty nesters retiring and downsizing, and so far all buyers that I have seen were millennials with young kids close to school age. The last one went for $60k over asking, and these are in the $800k-900k range. We are also seeing lots of the new construction tract homes in the $1.2-1.5 million range selling fast, and now more small developments are starting to build again.

[JGDlife]

There’s an ass ton more listings in my area of Virginia and pretty much any other place I’ve looked at on MLS.

[ImmerLernen]

I've been noticing and wondering the same thing, OP. I have email alerts set up for 3 completely different locations (my current one as I would be a seller, plus two potential move-to locations).

One potential move-to location still shows very quick sales and most (for my search criteria) closing for over asking (sometimes way over). The other potential location shows very quick sales for houses I consider true winners but less of the crazy over-asking sales prices.

In both locations, I do see a lot of lemons for sale -- probably people who are hoping to unload a property with incurable defects during this hot market cycle.

[BoleaConstrictor]

I'm seeing the lowest inventory since the winter. Nothing is on the market. Everything from the Spring is sold off and nothing new hitting the market.

[bande1102]

Yes, I'm seeing more houses hit the market. I'm also getting alerts for price decreases. However, most of these houses need quite a bit of expensive work. Also, I am seeing alot of townhouses and condos.

[Nasudesu]

Originally Posted by BoleaConstrictor

I'm seeing the lowest inventory since the winter. Nothing is on the market. Everything from the Spring is sold off and nothing new hitting the market.

Where would that be to be so tight?

[Lillie767]

Very little inventory has come on the market since I sold in 4Q2020.

[rrah]

There is a slightly higher inventory compared to the winter months, but the market really is not seeing an upswing in the number of listings. There is still a BIG shortage of inventory in my area at all price points. Not seeing any price drops.