Monroe NY - January-June 2014 Real Estate Market Results

By
Real Estate Broker/Owner with 406-270-3667, kat@thehousekat.com, Broker/REALTOR® RRE-BRO-LIC-75443

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

Comments (6)

Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Kat.  That's the problem with averages.  One or two huge sales blows up the median.

Jul 01, 2014 08:23 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Kat, there is a steady upward trend in your home prices. It would be interesting to see the graph without the 2 higher priced properties. Look like a positive outlook.

Make it a great day.

Jul 01, 2014 09:43 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Kat. It is often tough to get an exact handle of values based on limited numbers. Nice job with your report.

Jul 02, 2014 10:03 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Conrad - Next time I'll use the medians.

John - Nex time I'll use the medians!

Joe - Thank you!

Jul 05, 2014 09:19 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Kat - Great real estate market report for Monroe NY.

Jul 05, 2014 12:16 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Thanks Michelle!

 

Jul 06, 2014 08:49 AM