The Monroe, NY real estate results are available for April 2018. The number of monthly sales were stronger than the same time last year, available inventory increased slightly and sales prices for the month were healthy. If you are a buyer, there is still a low level of inventory. You have to be ready to make an offer when you see the right house, which means it's imperative that you have a pre-approval in place. If you are a seller, it is still a great time to put your home on the market. Buyers are looking.
Following is an overview of the April 2018 Monroe NY results.
In the month of April 2018, there were 16 sales, which is 33% more than the same time last year. There are currently 49 single family homes under contract in the town of Monroe. 28 of those went into contract during the month of April so buyers are out there! In our area, it typically takes a few months to close after signing a contract, so the rest of the Spring should remain strong in terms of sales. Also, there are currently a total of 85 single family homes on the market. That's slightly higher than the 82 in last month's report, but it remains low. Monroe remains a seller's market. Sellers with correctly priced and presented homes can sell quickly.
Median Sales Prices
The median price for January of this year was $255K. April was $325K. The strong price is a sign to buyers who are on the fence to get off! It also signals to sellers that a correctly priced home can sell quickly and for a decent amount of money. And more information - the lower priced sales in the month included a very small trust sale (two bedrooms, 768 square feet), and a foreclosed home. Both sold around the $200K price point. On the high end, a lake house with four bedrooms in the main home and a two-bedroom accessory apartment sold for $750K. There is a home to suit every price level, and every price level is selling.
Days on Market
The homes that sold in January took more than four and a half months to get to signed contract. In April, the days on market for the homes that sold was less than four months. Typically, the "hotter" the market, the lower the number of days it takes. Keep in mind that in our area of New York, it could take a few weeks between the time an offer is accepted and the time a contract is fully executed, which is when the listing is changed to "contract." That's why it's interesting that the fastest time to signed contract this month was four days from listing. Some buyers may be moving to contract prior to inspection, just to make sure that house will be theirs. That is definitely a sign of a hot market.
The real estate market in the town of Monroe NY is healthy. Prices are over $300K in terms of median price range. Inventory remains low. As I mentioned in my last month's report, quality homes are still needed! If you are a seller and want to put your home on the market, now is the time. If you are a buyer, it's important to be ready to go. The best way to ensure you're ready to sell or buy is to talk to a real estate professional. I'm happy to help! To get started, call me on 914-419-0270 or email me at firstname.lastname@example.org.
For previous market results reports, click here.
Originally published at thehousekat.com.