April - Middlesex County Real Estate Statistics and Market Commentary. Part #1

-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

The number of new homes listed in April has slightly increased 2.61% versus March and is following a 16% increase from February. 785 homes listed is the highest number since June 2008.

The Active Inventory (AI) as we follow it (homes for sales not including "under attorney reviews") has increased +4.62% as well compare to March. It has slowly increased since last December but is still much lower than last year high.

This month’s absorption rate (213 homes/month) or number of sold homes has increased 6.5% versus last month, following over 26% increase from February. Good numbers and we expect the trend to keep up as we are engaging the busiest season (spring and summer).

This is beneficially affecting the Days of Inventory (DOI) which has decreased almost 5% versus last month, following a 11% decrease versus February. At 405 days, it means it will take over 1 year to sell all existing inventory.

Part #2 will be posted tomorrow.

Cathy Chaudemanche

*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.