Starting in September last year (2008), we saw the Sold Price average experiencing its sharpest decline since 2006. Back to back monthly average Sold Price declining: October ($371,888) November ($346,413) and December ($334,524) from summer’s highs (top out @ $410,000).
You can get a good visual from the chart below:
The last quarter of 08 was probably one of the worst quarters for the Economy. Stock Markets crashes, Financials and other industries in great troubles, etc…The effect on the overall real estate markets was significant during that period.
However something worth noting is happening in Middlesex County since January 09 with regard to the Sold Price average. January AND February Sold Price averages have both increased versus both last December AND November (08).
The red trend line is giving us a good visual (2 months moving average).
Why is it worth noting? We will discuss in details in our next blog.
Real Estate statistics for Middlesex County New Jersey / Disclaimer-
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