While the real estate market remains balanced in most parts of Bergen County, there was a measurable increase in the inventory of available homes in August. The number of months inventory of single family homes rose 10.7% from the previous month*. Even some of the strongest markets experienced a rise. The inventory increased from 2.8 months to 5.0 months from July to August. Ridgewood increased from 2.4 months to 3.5 months**. And Upper Saddle River jumped from 7.2 months to 15.4 months**.
* source: NJMLS. Info deemed reliable but not guaranteed
** source: Otteau Valuation Group, Inc,