The most often asked question about the Monroe, NY Real Estate Market is whether sales prices are increasing. Monroe was lagging behind national trends last year. When countrywide trends indicated a healthy spike in prices, unfortunately, Monroe was staying flat. In addition, recent reports indicate the Orange County NY area has been remaining relatively flat as well in terms of prices. So the question is, has anything changed in 2013 for the Monroe area? Are prices finally rising?
Yes, they are, which is good news for sellers, and should be impetus for buyers who have been on the fence about buying. However, the increase hasn’t been huge, but the trend is a steady upward one.
The dotted line shows the trend of sales prices. As can be seen by the quarterly results, however, prices are not increasing in a straight line.
Monroe’s 4Q12 average sales prices were $276K. A year later, the 4Q13 average had increased to $281K, a minor increase of 2%. But the results do leave room for hope, as the 3Q13 average for the quarter was $323K.
Some of the up and down shifts can be explained as follows:
In 2Q13, April saw a price dip, when there were several low-priced estate and short sales that brought the averages down.
In 3Q13, July showed the highest sales prices for the year. Quite a few of the sales were new construction/new Colonials, which brought the average results up.
The bottom line is that the sales prices of single family homes in the village and town of Monroe NY are on their way up. If you have been thinking of selling your home, but have been waiting for the market to improve, now would be a great time to call me on 914-419-0270 for a free market analysis!
Monroe NY home prices are on their way up!