2016 Monroe NY Real Estate Results

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Real Estate Agent with Grand Lux Realty, 914-419-0270, kat@thehousekat.com 10301213186

2016 Monroe NY Real Estate Results

The real estate sales results for 2016 are now available as seen by the chart below. The overall story for 2016 was healthy volume. In 2015, a total of 169 homes were sold in the Monroe NY area, but in 2016, that number jumped to 227, an increase of 34%. That being said, the median price points remained relatively flat. In 2015, the median sales price was $267,800 and in 2016 it was $269,000.

2016 Monroe NY Real Estate Results

As can be seen by the chart above, December's median sales price was 24% higher than the same time last year. It was also higher than the last few months. No short sales were included in December, although there were two foreclosures. Decreasing distressed properties can increase average and median sale prices.

screen-shot-2017-01-05-at-7-42-42-am

Looking just at 2016 results, It is evident that the number of sales per month was healthy. In the first few months of the year, the # of sales were between 10-15 per month. They then rose to and remained around 20-25 each of the following months. That's a strong rate for the Monroe area.

In terms of inventory, currently there are only 86 single family homes for sale which is the lowest level for the area in the last five years. Because of low inventory, median prices may start moving up in 2017. I do expect buyers to be out in larger numbers, especially those who have been on the fence. Small rises in interest rates might push them into getting off that fence to start looking for the perfect home. If you have a home to sell in the area, definitely give me a call! New inventory is needed!

If you have any questions about Monroe or any Orange County area, feel free to contact me at 914-419-0270 or via email at kat@thehousekat.com.

 

Originally published at thehousekat.com.

Posted by

 

Kat Palmiotti, The House Kat

Licensed Associate Broker, CBR®

Grand Lux Realty, Inc.

428 Main Street

Armonk, NY 10504 *

* still supporting Monroe NY, Orange & Rockland counties.

 

914-419-0270 (cell)

email: kat@thehousekat.com

www.thehousekat.com

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Ambassador
2,495,669
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Even though the value remained almost unchanged the uptake in numbers more than offset that.  Nice report

Jan 05, 2017 05:18 AM #1
Rainmaker
1,192,600
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Ed - Thank you!

Jan 05, 2017 05:26 AM #2
Rainmaker
1,434,089
Sandy Padula and Norm Padula, JD, GRI
Realty National - Carlsbad, CA
Presence, Persistence & Perseverance

That is a huge volume increase from 2015 to 2016, but the median home price stayed flat. I am assuming there were more homes entering the merket to dilute the effect. I do see many more New Yorkers down here in the Sarasota Area!

Jan 05, 2017 05:32 AM #3
Rainmaker
2,005,995
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seems like a decent market to me, I hope that Sellers will give you a call to list their home and build up the inventory!

Jan 05, 2017 06:41 AM #4
Rainmaker
1,300,171
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Kat, what an interesting market. The December trend is huge...maybe better temps than last year??

Jan 05, 2017 07:16 AM #5
Ambassador
3,728,211
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It looks like it was a very good year and this year will be even better I hope. Hae a good weekend, Kat.

Jan 06, 2017 03:49 PM #6
Rainmaker
4,316,582
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 overview of the 2016 real estate market for Monroe NY.

Jan 06, 2017 04:59 PM #7
Rainmaker
2,863,301
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Nice increase in sales for Monroe NY. Sellers are going to like these numbers!

Jan 07, 2017 04:58 AM #8
Rainmaker
1,748,631
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Hi Kat Palmiotti - by the looks of things, I'd say you're going to have a strong 2017!

Wishing you hope and joy all year long and beyond!!!

Jan 07, 2017 09:44 AM #9
Rainmaker
1,192,600
Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Sandy/Norm - Inventory shrank throughout the year, which is why the lack of price gain is a bit confusing.

Brian - Me too!

Jeffrey - That could be; we've actually been pretty luck with temperatures so far.

Debbie - I hope this year is better also, and your weekend is going well!

Gabe - And thank you for reading it!

Larry/Sheila - They'd like it better if the December sales prices continue this year!

Patricia - Thank you! I wish you the same.

Jan 07, 2017 09:56 AM #10
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