Monroe, NY is finally seeing price improvements with home sales!
As can be seen in the above chart, which is based on sold single family homes, there has been a $120K jump in average sale prices since January of this year.
While the amount of the jump (50%) is huge, some caution should be exercised when using these results. The actual number of homes sold in Monroe each month is relatively small (~14 per month), so any outliers in price can make a huge difference in the averages. In May, for example, there were two homes that sold way over the median sales price of $319K. One was a $750K historical estate, and one was a $555K resort-like property; these sales definitely increased the May results more than a changing market should have. However, even if those were removed, April and May results are definitely higher than those in first quarter.
We’ll have to keep an eye on the results over the next few months, but the real estate market prices in Monroe NYare definitely on the rise!
Data Source: HGMLS Matrix system, June 5th, 2014