The Monroe, NY real estate results are available for September 2018. Well, to be honest, they've been available for weeks but I just realized now that I did not share them. So here they are! The number of monthly sales increased, available inventory increased from last month and sales prices are healthy but lower. If you are a buyer, there is still a decent level of inventory. If you are a seller, it is still a good time to put your home on the market.
Following is an overview of the September 2018 Monroe NY results.
In the month of September 2018, there were 29 sales which 25% more than the previous month and 50% more than last year. In terms of inventory, as of October 6th, there were 140 single family homes on the market, which was 6 more than the previous month. As of October 24th, though, that number dropped to 130. I track inventory weekly, and the last three weeks in a row have seen a decline in available homes.
Median Sales Prices
The median price for September 2018 was $315K, which is 10% lower than last month and 5% lower than the same time last year. This might be good news for buyers and not so good news for sellers, but we'll need to see whether this is a trend. There were six foreclosed properties that closed this month, which could have depressed the result slightly.
Days on Market
The homes that sold in January took more than four and a half months to get to signed contract. In September, the time to get to contract for the homes that sold was around two and a half 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 the last few months, there were several sales in September that were under contract in a few week's time.
The real estate market in the town of Monroe NY remains healthy. Prices are over $300K in terms of median price range. Inventory is decreasing slightly. 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 if you are in Monroe or Orange County! 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 posted at thehousekat.com.