2014 continues to bring healthy real estate prices to Monroe NY in 2014!
As can be seen in the above chart, which is based on sold single family homes, there has been a $100K jump in average sale prices since January of 2014.
As I mentioned last month, while the amount of the jump is huge, some caution should be exercised when using these results. The actual number of homes sold in Monroe each month is relatively small (~13 per month), so any outliers in price can make a huge difference in the averages. In May, for example, there were two homes that sold way over the median sales price of $319K. One was a $750K historical estate, and one was a $555K resort-like property; these sales definitely increased the May results more than a changing market should have. In June, the sales activity did not include any huge estates, so the price decreased slightly from May but I believe it's more the "norm" for the current market.
We'll keep an eye on the results over the rest of the year, but the real estate market prices in Monroe NY are definitely healthy!
Data Source: HGMLS Matrix system, July 2nd, 2014