The 10 NJ towns worst to sell a home right now as market cools

Only buyers want to read this. Sellers will feel sick to their stomachs. I'm going to be one any day now so no, I'm not rubbing it in. I'm right there with you.

The housing market was going crazy and for a long time it has been such a seller's market across the country and here in New Jersey we saw the unprecedented. No inventory and buyers losing out on homes even when offering far about asking price, waiving home inspection and purchasing homes as is.

Now things are beginning to cool.

Some towns are worse than others to be a seller in the Garden State right now. Rising mortgage rates and rising inflation among other factors are creating more inventory and helping turn the tide slowly towards buyers’ favor.

One metric being used to determine a market’s status is months of available inventory on hand. According to the real estate consultant firm the Otteau Group, using that inventory metric, here are the top ten New Jersey towns that have cooled the most for sellers.

The number after the town represents the number of months of inventory. The higher the number, the worse for the seller.

10 Long Beach Township — Months of inventory: 4.1

9 Rocky Hill Borough — Months of inventory: 4.3

8 Millstone — Months of inventory: 4.7

7 Delaware Township — Months of inventory: 4.8

6 Guttenberg 4.8

5 Atlantic City — Months of inventory: 4.9

4 Far Hills — Months of inventory: 5.1

3 Saddle River — Months of inventory: 5.4

2 Loveladies — Months of inventory: 6.8

1 Alpine — Months of inventory: 11.8

As you can see it's across the board, all kinds of towns, from the grittier like Atlantic City to the ultra-posh where celebs live like Alpine. At a transitioning time like this it's more important than ever you pick the right realtor. If you've listened to my show for years you know who my guy is. Now excuse me while I "start packing."

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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