January- October 2014 Real Estate Results in Monroe NY 10950
As can be seen in the above chart, which is based on sold single family homes, as of August there had been a $75K increase in median sale prices in Monroe NY since January 2014. As of the end of August, median prices continued to hover around the $315-320K mark, which was a large improvement over the beginning of the year.
And then came September. The median sales price dropped to a level that hasn’t been seen since 2013. As indicated in last month’s market report, there were some other data points that might have been helpful in understanding that drop.
And now October results are in. The median sales price is on its way back up, and while it’s not at the May to August high, the median is 18% better than it was at the start of the year.
What do these results mean? Last month I indicated that while there is no crystal ball and only hindsight will tell, I thought that with slowly decreasing inventory and fewer longer-term listings on the market in Monroe, I was hopeful prices would go back up and that September results would have been a temporary blip.
That does seem to be what happened and I’m hopeful the improving trend will continue. In October, total inventory decreased a bit more with 17 homes on (or back on) the market, but 40 coming off the market with 12 sold, and the remainder either expired, taken off the market, or pending.
Feel free to contact me with any questions about Monroe NY real estate!