Middlesex County NJ Real Estate Market Commentary/ December 2009 Part1
Those Middlesex County NJ real estate statistics include residential one family only. They do not include townhouses, condos, co-ops, multi-family, commercial properties, etc...This page is updated every second week of the month. Data is from the Middlesex County Multi Listing System (MLS) and is the basis for our Middlesex County NJ market commentary.
1. Middlesex County NJ Real Estate Statistics
| Middlesex County Real Estate Statistics | December 2009* | Previous Month** | December 2008*** |
| Active Inventory | 2127 | 2338 (-9%) | 2545 (-16.4%) |
| New Homes Listed | 321 | 442 (-27.4%) | 386 (-16.8%) |
| Sold Homes | 301 | 391 (-23%) | 240 (25.4%) |
| Median Sold Price (MSP) | $312,000 | $310,000 (0.6%) | $305,000 (2.3%) |
| Average Sold Price (ASP) | $331,191 | $336,212 (-1.5%) | $334,524 (-1%) |
| Sold Price/Asking Price (SP/AP) | 94.00% | 95% (-1%) | 94.00% |
| Days on Market (DOM) | 90 | 79 (13.9%) | 85 (5.9%) |
| Days of Inventory (DOI) | 219 | 180 (21.7%) | 338 (-35.2%) |
*Middlesex County Real Estate Statistics Calculated on 01/04/2010 **Calculated on 12/11/2009 ***Calculated on 12/10/2008
2. Middlesex County NJ Market Commentary
November numbers were surprising and provided almost a picture perfect scenario to anyone waiting for a sign in the Real Estate recovery.
In a nutshell, those were the interesting facts:
The number of homes sold in November increased versus October and almost doubled versus November 2008.
This is worth noting as typically the number of homes sold decreases in winter (seasonal effect).
The average sold price increased versus October. Again, typically due to seasonal effect, prices decrease in winter. In the last 2 years, November sold prices decreased versus previous month.
December-
For Middlesex County NJ, the number of new homes listed in December has again decreased (-9%) compare to new homes listed in November. With 321 homes, it is much lower than the average year to date of 639 homes listed per month. This is very positive for Middlesex County real estate market in general as we need to reduce the inventory to move into a more balanced / neutral market.
The Active Inventory as we follow it (homes for sale not including "under attorney reviews") has decreased again to 2127 homes for sale in Middlesex County NJ. The Active Inventory has been consistently decreasing since April and is the lowest one since the last 2 years.
I will publish Part #2 tomorrow.
Piscataway real estate , Metuchen real estate and North Edison real estate in Middlesex County New Jersey.
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