Monroe NY Real Estate Results – July 2019

Monroe NY Real Estate Results – July 2019

The Monroe, NY real estate results are available for July 2019.  The number of monthly sales increased while sales prices and available inventory decreased.

Following is an overview of the July 2019 Monroe NY results.

Sales Volume

In the month of July 2019, there were 20 single family home sales which was a 10% increase over June. However, July’s results continue the recent trend of sales that are lower than the same month last year.  That being said, there are currently 76 homes under contract which is 40% more than the same time last month. So while sales results are continuing at a slower rate than last year, that may change in the next month or so.

Inventory

In terms of inventory, there are currently 126 homes on the market. At the end of June there were 147, a 14% decrease in just one month. This agrees with the higher number of homes under contract as mentioned above; more homes are going under contract than are coming onto the market.

Also of interest, at least 11 of the homes listed as active have an accepted offer. Subtracting those from the 126 homes on the market represents about six months of available inventory. My last report indicated seven months of inventory, so this also agrees with the information above that sales are increasing. At this point, the market remains balanced, with neither sellers nor buyers having the upper hand.

Median Sales Prices

The median sales price for July 2019 was $319,000, which is a slight reduction over the previous month but basically on the same level. This year’s prices have been lower than last year and as mentioned last month, I don’t expect big price increases this year.

Type of homes being sold

To get an idea of the types of homes that are selling, the lowest priced home sold in July was a six bedroom, one bath home built in 1900. It had ~1,650 square feet of living space and a quarter acre of land. This was a foreclosed home (three of the sales this month were foreclosures). The pictures indicated it probably needed a lot of work. It was listed at $95K and sold for $128K.

The most expensive home that sold in July was a five bedroom, three and a half bath Colonial style home with ~ 3,500 square feet of living space. This home included two third acres of land, a kitchen with island, tiled backsplash, granite counters, and oak flooring with mahogany inlay, gas fireplace, finished basement with home theater and more. This home was listed at $539,900 and sold at $520K.

Summary

It remains a great time to buy and a good time to sell in the Monroe NY area.

Special Note

This will be my final Monroe NY market report, as I will be moving to a different state in the near future. However, I will still be a licensed NY real estate agent. If you require any market information, I will still have my finger on the pulse of the Monroe market and would be happy to assist. Also, if you need a real estate professional to help you sell or buy a home, I am able to recommend some wonderful agents. Feel free to continue to call, text or email me: 914-419-0270 or kat@thehousekat.com.

For previous market results reports, click here.