Now that June has ended and results are in, it’s time to see how the real estate market is doing in Monroe, NY (Orange County).
The first graphic compares 2nd quarter 2011 to 2nd quarter 2010.
A quick assessment of the above indicates selling prices have remained relatively constant in Monroe over the last year, and houses are taking just about as long to sell. However, the above also indicates sales in 2Q11 were lower than a year ago, which could suggest a weaker market. It’s important to keep in mind that 2nd quarter of 2010 was artificially inflated because it also included tax stimulus closings, so the above is not an apples to apples comparison.
Therefore, it’s also important to view a month to month comparison of recent data as follows.
What’s evident is that the last three months have been strong in terms of closed sales, and even more importantly, the last line indicates new homes for sales are increasing; in fact, in June, the number of new listings almost doubled from the month before.
This indicates an increased confidence in the Monroe, NY real estate market.
This is a great time for buyers in Monroe, NY to take advantage of the great interest rates and purchase the home of their dreams!