Single-family home sales slowed in Middletown in November. Only 42 homes closed during the month, compared to 51 in November 2012. Here are the other monthly statistics: the average November sales price was down 1% ($437,273 compared to $441,106 last November) and the median sales price was down 6% ($385,000 compared to $410,000 in November 2012).
Market data from one month doesn’t mean very much, even when you’re talking about sales of 42 or 51 homes. We get a much clearer view of the Middletown real estate market when we look at our 2013 year-to-date statistics, which are as follows:
January 1 – November 30 Middletown Single Family Homes:
Sales were up 18% (572 in 2013 compared to 484 in 2012)
Listings were up 14% (335 at the end of November 2013 compared to 293)
The average sales price was up 2% ($455,038 in 2013 vs. $446,226 in 2012)
The average listing price was similar ($472,596 in 2013 vs. $472,944 in 2012)
The average sales price vs. listing price percentage was up (96.3% in 2013 vs. 94.4% in 2012)
The median sales price was up 4% ($394,500 in 2013 vs. $380,000 in 2012)
The real estate absorption rate was shorter (5.5 months in 2013 vs. 7.3 months in 2013); see my previous posts if you’re not familiar with the real estate absorption rate.
If you’re not a “numbers person”, all this information may seem a bit overwhelming. I’d be glad to sit down and go over it with you- no obligation, of course.
If you’re a Middletown home owner, it’s good to have this information, even if you’re not thinking of selling your home in the near future. When you DO start thinking of putting your home on the market, talk with two or three REALTORS® several months ahead of time. Ask them what they think your home would sell for, and how they came up with their estimates. Ask lots of questions, and find out how each person plans to market your home so it sells in the shortest time and for the highest price. Please let me be one of the REALTORS® you interview.
Leonard “Len” Dunikoski, GRI
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 239-0739 (cell) (732) 530-6686 (office)