Jan to Aug 2014 Real Estate Market Results: Monroe NY 10950

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

January to August 2014 Real Estate Market Results: Monroe NY 10950

 

 

 

As can be seen in the above chart, which is based on sold single family homes, there has been a $75K increase in median sale prices in Monroe NY since January 2014.   The blip in May was due to two unique properties (an historical estate and a resort-like property) being sold that month which increased May results more than a changing market would have.  As of the end of August, median prices continue to hover around the $315-320K mark, which is a large improvement over the beginning of the year.

 

In terms of the number of sales, in July the number of sales of single family homes jumped slightly from an average of about 13 per month to 18.  Instead of resulting in a shrinking inventory, though, the sales of 18 were more than offset by 24 new listings that were added to Monroe's inventory in July, resulting in a net increase of six.  August sales were also at 18, with 21 new listings being added to the Monroe inventory, again slightly increasing total inventory.

 

What do these results mean?   Only time will tell, but increased inventory typically results in decreasing prices, so this might mean the Monroe real estate market will get better for buyers and not for sellers.  However, that was my thought at the end of July and in August prices continued to rise.  I will be watching September sales carefully and will share results as soon as the month has ended.

 

Feel free to contact me with any questions.

Comments (9)

David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

I think it means continue to wait and continue to increase your costs to stop renting!

Thats what I see in this

Sep 02, 2014 02:00 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Kat.  A 25% increase, year to date, in median price is huge.

Sep 02, 2014 09:07 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

David Shamansky - Buying instead of renting is always something to consider. Thanks for commenting!

Conrad Allen - Yes it is a big jump; I'm wondering if we are finally playing catch-up to other areas of the country that were improving last year.  How is Webster doing?

Sep 02, 2014 10:34 PM
Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for sharing this local real estate market report!

It is most informative for buyers and sellers alike!

Best wishes!  I hope you have a great weekend.

Sep 04, 2014 11:54 PM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Kat Palmiotti at (914) 419-0270, have a great New York weekend!

Sep 05, 2014 03:51 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Jim Crawford - Thanks Jim!  How are things in Atlanta?

Will Nesbitt - Thank you!  And you have a great Alexandria weekend.  By the way, I was down there about a month or so ago - walking down to the waterfront was great.

Sep 05, 2014 08:49 AM
Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Kat Palmiotti doing well.  I used to go to High School up your way in Goshen NY years ago.  Such a beautiful area.

Sep 05, 2014 10:06 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Thanks for the update on the ups, downs, graph for real estate health in your area.

Sep 08, 2014 11:17 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Jim- Thanks for stopping by again!

Andrew - And thank you for the thank you!

Sep 10, 2014 01:49 AM