Monroe NY Real Estate Results – August 2017
The Monroe, NY real estate results are available for August 2017. This month included healthy prices, an extremely robust number of sales and fewer days on market.
Thirty-three homes closed in the month of August 2017. I went back through ten years of records to see how this compared to prior results. The month of August 2017 had the highest number of sales than any month in the last ten years. In fact, it’s 25% more than the previous highest month. While increasing sales are normal in the summer, this truly was a record. Further, inventory levels which were around 120 at the beginning of the summer are now in the 90s. Homes are selling!
Median Sales Prices
Median sales prices were jumping around a little early this year, mostly due to distressed properties that are still a part of the Monroe NY real estate market. The March and May sales included a third short sales and foreclosures. Since then, however, the distressed properties have decreased and sales prices have increased. As you can see from the chart below, while August is slightly lower than the previous month, it reflects a median price of $295K. Those results are 4% more than the same time last year. Also of interest, in 2016 the median sales price for year-to-date through August was $265K, while in 2017 it is at $290K. So prices are trending upwards.
Days on Market
Days on market have been decreasing as well. Days on market refers to the time it takes from listing a home to putting it under contract. In April 2017, it was taking about four months to get from a new listing to a contract. In August, that time decreased to two and a half months.
The real estate market in the town of Monroe NY is healthy. Homes are selling, prices are increasing, and days on market are shrinking. If you are a seller and want to put your home on the market, now is the time! To get started, call me on 914-419-0270 or email me at email@example.com.