This article is part of my weekly “Wayne Explains the Market” series, where I break down real estate topics using local data and explain what they mean in plain English for homeowners, buyers, and sellers.
Wayne Explains the Market
Last week, I launched this series by talking about how the real estate market is shifting across New Jersey. This week, I want to bring that conversation a little closer to home and look at what’s happening right here in Howell.
One of the questions I hear most often from Howell homeowners is, “Is it still a good time to sell?”
The short answer is yes.
The longer answer is… it depends on your expectations.
The latest Howell market numbers tell an interesting story. Inventory remains very low, which continues to favor sellers. At the same time, homes are taking a little longer to sell, and more sellers are reducing their asking prices.
Those aren’t contradictory facts. They’re all part of a market that’s becoming more balanced.
Howell Still Has Very Little Inventory
One of the best ways to measure the strength of a housing market is by looking at Months of Inventory.
Right now, Howell has 1.8 months of inventory. That means if no new homes came on the market, everything currently for sale would be gone in less than two months at today’s pace of sales.
Generally speaking, anything under four months of inventory favors sellers.
At 1.8 months, Howell remains a seller’s market.
Buyers Are Taking More Time
Low inventory doesn’t automatically mean homes sell overnight.
The latest data shows the median time on market has increased to 28 days, compared to 21 days just one month ago.
That’s not a sign that the market is weakening.
Instead, it suggests buyers are taking a little more time before making a decision. They’re comparing homes more carefully, thinking about affordability, and making sure the home they choose is the right one.
Pricing Matters More Than Ever
Perhaps the most interesting statistic is this one.
The number of Howell homes with price reductions increased from 36 to 39 in just one month.
That’s the highest level we’ve seen in the past year.
Does that mean prices are falling?
Not necessarily.
It tells me something I’ve been discussing with clients for months.
Today’s buyers are willing to pay market value for a home that’s priced correctly and presented well. They’re much less willing to overpay simply because inventory is low.
In other words, sellers still have an advantage, but unrealistic pricing is being challenged by the market.
What This Means If You’re Selling
If you’re thinking about selling your Howell home, this is still a favorable market.
There simply aren’t enough homes available to satisfy buyer demand.
However, the strategy has changed.
The days of putting a home on the market at any price and expecting multiple offers are largely behind us.
Success today comes from:
- Pricing the home correctly.
- Preparing it to make a great first impression.
- Marketing it professionally.
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Understanding what buyers are looking for.
What This Means If You’re Buying
For buyers, there’s some encouraging news.
You’re still competing for well-priced homes, but you have more breathing room than buyers did a couple of years ago.
Homes aren’t disappearing quite as quickly, and some sellers are adjusting their prices when the market tells them they’ve missed the mark.
Preparation is still important, but patience can also pay off.
Wayne’s Bottom Line
The Howell housing market is healthy.
With only 1.8 months of inventory, sellers continue to have the upper hand. But today’s market is rewarding preparation, realistic pricing, and informed decision-making more than ever before.
That’s why I enjoy writing this series.
Every week, I’ll take one part of the real estate market and explain what it means, using local data whenever possible, so you can make better decisions whether you’re buying, selling, or simply keeping an eye on your home’s value.
Because good real estate decisions aren’t based on fear or hype. They’re based on good information, thoughtful planning, and what’s right for you and your family.
That’s what I mean by helping neighbors find their place in the universe.
Next Week in Wayne Explains the Market
Why Do Some Homes Sell in Days While Others Sit for Weeks?
If inventory is still relatively low, why do some homes attract offers almost immediately while others remain on the market?
Next week, I’ll explain how pricing, presentation, condition, marketing, and the competition all influence how quickly a home sells.
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Previous articles in this series:
The Housing Market is Shifting… Here’s what that really means