August Middlesex County New Jersey NJ Real Estate Statistics
Please find below Real estate statistics for Middlesex County NJ for the month of August. Those Middlesex County Real Estate statistics have been calculated with raw data from the Middlesex County Multiple Listings System. Please see our disclaimer.
Middlesex County NJ Real Estate Statistics
August 2009
Previous Month
August 2008
Active Inventory
2675
2727(-1.90%)
N/A
New Homes Listed
675
678 (-0.44%)
676 (-0.14%)
Sold Homes
368
416(-11.54%)
412 (-10.67%)
Median Sold Price (MSP)
$330,000
$327,250 (+0.84%)
$370,000 (10.81%)
Average Sold Price (ASP)
$356,631
$353,886 (+0.77%)
$409,046 (-12.81%)
Sold Price/Asking Price (SP/AP)
95.00%
95.00%
95.00%
Days on Market (DOM)
73
76(-3.94%)
78 (-6.41%)
Days of Inventory (DOI)
226
203 (+11.33%)
N/A
Catherine "Cathy" ChaudemancheAssociate Realtor, Keller Williams RealtyMiddlesex County Market Center
Disclaimer: information deemed reliable but not guaranteed. Middlesex County MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by Middlesex MLS may not reflect all real estate activity in the market.
Showing posts with label Middlesex County Real Estate Statistics. Show all posts
Showing posts with label Middlesex County Real Estate Statistics. Show all posts
Tuesday, September 15, 2009
Tuesday, August 18, 2009
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
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
Monday, May 18, 2009
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
*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.
Sunday, May 17, 2009
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.
*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.
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