Inventory Trends
Overall inventory was consistent with Q4 2022.
Closed Sales Insights
Because of the limited inventory, we experienced a 19% decline in closed sales. In the townhome sector we had only 1 townhome close in 2022 and 0 in 2023 contributing to the inefficient data set to evaluate.
Average Sale Price Trends
The average sale price in Bernardsville declined 36% for single family homes. This is primarily due to the mix of homes sold as opposed to depreciating prices.
