Middlesex County Real Estate Market Commentary for JULY 2009 New Jersey -Part II and Final

Middlesex County Real Estate Market Commentary for JULY 2009 New Jersey - Part II and Final
Both median and average sold prices are staying at the same levels versus last month with 12%-14% decrease from last year prices.
SP/AP ratio is staying at 95%. In average, sellers are accepting offers at 95% of their last asking price. Please note that I mentioned "last asking price" and not "original asking price".
Another important real estate statistic is Days on Market or DOM which has decreased down to 76 days. Meaning that 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.
That's the end of our local market commentary based on Middlesex County real estate statistics.
Cathy Chaudemanche,Keller Williams RealtyEdison Real Estate and Homes for Sale in Edison, New Jersey