Significant Increase in Number of Sellers Reducing Their Asking Prices
In a typical year only 12.9% of homes reduce their asking prices before selling. Our Downbeach Team completed an analysis of homes for sale in July 2021 and found in almost every Jersey Shore town between Brigantine and Cape May a significant increase in sellers lowering their asking prices. Is this an indication of an upcoming market correction? Likely not. But it may indicate a slowing in the dramatic increases in market prices. It is still a seller's market with low inventory. We will continue to track market activity and will report on any significant changes. Contact us today if you have any questions about your home or a house you may be interested in buying. Watch a video discussing this reduced pricing.