April - Middlesex County Real Estate Statistics and Market Commentary. Part #2

-Middlesex County Statistics and Commentary (Residential one family only; does not include Townhouses/Condos/Multi-family)*-

Middlesex County Trends	April 2009*	Previous Month**	April 2008
Active Inventory	2874	2747 (+4.62%)	N/A
New Homes Listed	785	765 (+2.61%)	913 (-14.01%)
Sold Homes	213	200 (+6.5%)	308 (-30.84%)
Median Sold Price	$310,000	$299,950 (+3.35%)	$372,500 (-16.78%)
Average Sold Price	$321,665	$316,381 (+1.67%)	$412,765 (-22.07%)
Sold Price/Asking Price Ratio	94.00%	94.00%	95% (-1.05%)
Days on Market	89	97 (-8.24%)	77 (+15.58%)
Days of Inventory	405	426 (-4.92%)	N/A

*Calculated on 05/07/09 **Calculated on 04/07/09

PART #2:

Both median and average sold prices are higher than the previous month (+3.35% @ $310,000 and +1.67% @ $321,665 respectively).

Median home price is back over last December lows’ and setting the stage for the seasonal price increase.

Sold price versus asking price ratio stay the same at 94%. In average, sellers are accepting offers at 94% of their asking price.

Days on market or DOM decreased 8.24% to 89 days. It takes less than 3 months in average to go under contract. A word of caution with this indicator as it is not a cumulative DOM. This is a good example of the better value of looking at those statistics, which is more in the trend analysis than in a specific number at a specific given time.

We have switched our Middlesex County Real Estate barometer from "Buyer's Market" to "Strong Buyer's Market" last November 2008. Variables for that decision were the decrease to historical lows of the 30-year fixed-rate mortgage and the November sold price correction.

We are keeping our barometer the same as we believe that we are in one of the strongest buying stage opportunity.

Cathy Chaudemanche

Realtor Associate/Keller Williams RealtyMetuchen, NJ

Servicing Home Buyers and Sellers in Middlesex County, NJ

http://www.YourHouseFast.com

*This representation is based in part or in whole on data supplied by the Middlesex County Multiple Listing System and the Garden State Multiple Listing System. Middlesex County MLS and Garden State MLS do not guarantee nor are in any way responsible for its accuracy. Data maintained by Middlesex MLS and Garden State MLS may not reflect all real estate activity in the market. Calculations deemed reliable but not guaranteed.