January 2016 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 seen below, the real estate results for Monroe, NY are now available for the January 2016 period.

 

 

These sale price results may be disappointing to sellers who are holding off putting their homes on the market until prices rise. There is an explanation, though, for the dip in the January 2016 median sale prices of $224K. Over 20% of those sales were foreclosured properties. Another sale was a very low priced cash-only home that needed to be ripped down and rebuilt. So there were quite a few homes which pulled down the median. If those were removed from the mix, the median would have been a much healthier $298K. So anyone who wants to sell their home should take heart. Prices are not as low as they appear at first glance.

 

Regarding sales volume, sales volume is heading up again in the Monroe NY area, appearing to be signaling a lively spring market. Inventory has declined significantly, though, as indicated in my recent post, and in fact it is now at a very low level of 107 available homes. New inventory is definitely needed!

 

If you want more information about Monroe or any other Orange County area, just call me on 914-419-0270 or email me at kat@thehousekat.com

 

Comments (12)

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

Hi Kat.  Great explanation about why it looked like prices have fallen but didn't.

Feb 04, 2016 08:15 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Kat Palmiotti ,

Wow..you are still dealing with foreclosures! Hope their inventory is depleted soon. Good plausible explanation of the "real median" with those properties removed!

Feb 04, 2016 08:28 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Kat.  Thanks for the update for the Monroe NY real estate market.

Feb 04, 2016 08:38 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Conrad - Thanks for stopping by! Hope all is well.

Dorie - Actually, we still have quite a few - just heard a report yesterday that in our county, short sales and foreclosures are making up a large portion of active properties.

Gabe - Thank you !

Feb 04, 2016 08:47 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Kat. Very well done report, glad sales volume is on the upswing, hope that trend continues.

Feb 04, 2016 09:18 PM
Norm Padula, JD, GRI
Florida Realty Investments - Sarasota, FL
Presence, Persistence & Perseverance

Kat Palmiotti This was particularly insightful and your analysis may be flawed when you consider that you were not involved with every transaction. If you were, the median sales price would be in the $300,000 range!

Feb 04, 2016 09:23 PM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

great news for folks in your area to see things ticking upward per your news!

Feb 05, 2016 12:03 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Kat...the market here on the Space Coast really has no specific trends. When your area gets snow...my area gets snowbirds :)

Feb 06, 2016 01:07 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Joe - Me too!  

Sandy/Norm -Thank you! That was sweet!

Mark - There is a lot of activity.

Jeffrey - Did you see a decrease this year in snowbirds?  We haven't had much snow!

Feb 06, 2016 01:15 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Kat Palmiotti - you give a very good explanation for the dip and that's impressive!!!

Feb 06, 2016 09:02 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat Palmiotti,  Love to see what other areas are doing in the market.  Have a great day and Go Broncos!!!

Feb 07, 2016 12:52 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Patricia - Let's hope the end of this month will show a better story.

Will - Thanks for stopping by!

Feb 08, 2016 08:03 PM