The Monroe, NY real estate results are available for June 2018. The number of monthly sales remains steady, available inventory increased slightly from last month and sales prices remained healthy. If you are a buyer, there are now more homes to choose from. If you are a seller, while the market is moving towards a more balanced one, it remains a great time to put your home on the market.
Following is an overview of the June 2018 Monroe NY results.
In the month of June 2018, there were 22 sales which is nearly flat with last month, but slightly lower than the same time last year. I don't believe the number of sales will be dropping in the next few months. There are currently 46 single family homes under contract in the town of Monroe. These should be closing soon so I expect volume to remain strong in the short term. In terms of inventory, there are currently 120 single family homes on the market, which is only an increase of 5 over the last moth. While the numbers would suggest the market in Monroe NY has moved to a balanced one, with neither buyer or seller having the upper hand, market behavior doesn't quite agree. I am seeing a lot of multiple offers and quick sales. The market is still acting as more of a seller's market.
Median Sales Prices
The median price for June 2018 was $354.5K, which is about 4% less than last month, but 32% higher than the same time last year. Buyers who are on the fence need to get off! And the same goes to sellers! The higher prices since last year and earlier this year, are great news for those who wish to sell.
Days on Market
The homes that sold in January took more than four and a half months to get to signed contract. In June, the time to get to contract for the homes that sold was less than three 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." Similar to last month, there were several sales in June that were under contract in a week's time. 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 still-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 is increasing. This is still a great time to sell (or buy). 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 email@example.com.
For previous market results reports, click here.
Originally published at thehousekat.com.