Monroe NY Real Estate Results – July 2018
The Monroe, NY real estate results are available for July 2018. The number of monthly sales remains steady, available inventory increased from last month and sales prices remained healthy. If you are a buyer, there are now more homes to choose from. If you are a seller, the number of homes under contract indicates it remains a good time to put your home on the market.
Following is an overview of the July 2018 Monroe NY results.
In the month of July 2018, there were 23 sales which is a slight increase over last month, and even with the same time last year. I believe the number of sales should be similar in next month. There are currently 51 single family homes under contract in the area. These should be closing soon so I expect sales volume to remain strong in the short term. In terms of inventory, there are currently 141 single family homes on the market, which is 18% higher than last month. The market does appear to be more of a balanced market at this time. Anecdotally, I have a buyer going for a second showing at a particular house. That’s unheard of when it’s a seller’s market.
Median Sales Prices
The median price for July 2018 was $345K, which is 3% less than last month, but 22% higher than the same time last year. Sellers who are on the fence about selling need to get off! The median prices have not increased in a few months. If you want to sell soon, now would be the time to do so!
Days on Market
The homes that sold in January took more than four and a half months to get to signed contract. In July, the time to get to contract for the homes that sold was two months. Typically, the “hotter” the market, the lower the number of days it takes. Keep in mind that in our area of New York, it could take a few weeks between the time an offer is accepted and the time a contract is fully executed, which is when the listing is changed to “contract.” Similar to the last few months, there were several sales in July that were under contract in a few week’s time.
The real estate market in the town of Monroe NY remains healthy. Prices are over $300K in terms of median price range. Inventory is increasing. This is still a great time to sell (or buy). 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. The best way to ensure you’re ready to sell or buy 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 firstname.lastname@example.org.
For previous market results reports, click here.