February 2015 Real Estate Results: Monroe NY 10950

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

As mentioned in my previous posts, in 2014, the Monroe NY real estate market started showing signs of price improvement.   So how is 2015 starting off, and how does 2015 compare to last year?

 

In January 2015, the median sales price was 15% higher than the same time period in 2014 and in February it was 11% higher.  Not only that, but similar to last year, the February 2015 median showed an improvement over January, continuing to indicate a positive price trend in the Monroe, NY area.

 

So what is behind these numbers that might be of interest to anyone thinking of buying or selling a home in the Monroe NY area?

 

House Style:  Homes that typically bring a higher price in the Monroe NY market are colonials and new construction, while bi-levels, ranches and cape cods tend to result in a lower average price point.  A slightly higher percentage of colonials and new construction were sold in January 2015 over 2014, but in February, the reverse was true.  So the types of homes being purchased don't seem to have had much of an impact on the price trends.

 

Short Sales:  Short sales and foreclosure sales typically suppress the median and average results since these homes are often vacant and their condition is often poorer than other homes.  The number of Monroe NY sales attributed to either short sales or foreclosures was essentially the same in 2015 as in 2014, so it doesn't appear they have had an impact on the price increases either. 

 

So what does this mean?  I'm taking this data as a sign that Monroe, NY is truly on the way out of the doldrums that have impacted the real estate market in the recent past.  Of course, as always, only time will tell. 

 

If you have any questions about your specific home, and what it might be worth in today's market, feel free to contact me to discuss!

 

 

Comments (9)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat,  Sounds like you are getting a raise this year in income.  That is a great thing!

Mar 01, 2015 12:19 AM
Norm Padula, JD, GRI
Florida Realty Investments - Sarasota, FL
Presence, Persistence & Perseverance

Kat Palmiotti Definitely a strong price improvement for your area. Wondering what has happened to the inventory levels? Thanks!

Mar 01, 2015 01:45 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Will - That's a definite goal!

Sandy/Norm - They're actually pretty similar to where they were a year ago, although they're about 40% lower than last summer.  But that dip in the winter months has happened the last few years in a row.

Mar 01, 2015 02:12 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Hi Kat, Spring is right around the corner so hopefully you will see some increased activity and a rise in prices. Winter has challenged many of our markets.

Mar 01, 2015 10:29 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Kat. Great job with your report. There are some positive trends and with some warmer weather the sales numbers will get a boost.

Make it a great week!

Mar 01, 2015 07:07 PM
Yolanda Cordova-Gilbert
Richmond, TX

Kat,

 That is a good market report and it looks like things are looking up! Good for you!

Mar 07, 2015 06:13 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Debbie - I can say buyers are out in droves!

Joe - I woke up to 30 degrees this morning which is a HUGE improvement over the last month.

Yolanda - Yes, things are on the rise.

Mar 08, 2015 07:45 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Kat.  Thanks for updating us on the Monroe NY real estate market.

Mar 10, 2015 09:55 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Gabe - Thanks for stopping by!

Mar 11, 2015 08:45 PM