Monroe NY Real Estate Results – December 2017

Monroe NY Real Estate Results – December 2017

The Monroe, NY real estate results are available for December 2017. The number of sales remains healthy, inventory is still low and sales prices remain stable. If you are a buyer, the shortage of inventory means you need to be ready with your pre-approval should the right house appear on the market. You also need to be prepared to make a strong offer. If you are a seller, now is a great time to put your home on the market. Competition will be lower than it has been (and will be), and buyers are ready.

Following is an overview of December 2017.

Sales Volume

In the month of December 2017, there were 29 sales, which is 38% higher than the same month last year and 60% higher than the previous month. and remains a healthy level of activity. During the year, 251 homes were sold. With an average of 21 sales per month, and an available inventory of 80, this means there are less than four months of inventory available in the Monroe NY area. That’s typically indicative of a seller’s market, where sellers with correctly priced and presented homes can sell quickly. A chart of the sales volume for 2016 versus 2017 is included below.

Median Sales Prices

Median sales prices this year are evidently much higher than last year. As the red bar on the chart below indicates, while December 2017 was a 6% drop over both the previous month and December 2016, it remains right around the $300K mark. The median for the entire year in 2016 was $269K, while the same data point for 2017 was $295K, nearly 10% higher. 2017 was definitely a better year than 2016 for sellers.

Days on Market

Days on market decreased as well during the year. This measurement refers to the time it takes from listing a home to the date that home goes under contract. Early in the year, it was taking about four months to get from a new listing to a contract. In December, on average that process took three months.

Bottom Line

The real estate market in the town of Monroe NY remains healthy. Homes are selling, price points are strong, and inventory is low. If you are a seller and want to put your home on the market, now is the time! If you are a buyer, it’s important to be ready to go, and the best way to ensure you’re ready is to talk to a real estate professional. I’m happy to help! To get started, call me on 914-419-0270 or email me at kat@thehousekat.com.

For previous market results reports, click here.