Monroe NY Real Estate Results – November 2017
The Monroe, NY real estate results are available for November 2017. The number of sales remains healthy, inventory has declined, and sales prices continue to outperform 2016. 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.
In the month of November 2017, there were 18 sales, which is about even with the same month last year and remains a healthy level of activity. During the last year, 247 homes were sold. With an average of 20-21 sales per month, and an available inventory of 82, this means there are only 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.
Median Sales Prices
Median sales prices this year are evidently much higher than last year. As the red bar on the chart below indicates, November 2017 was 35% higher than the same time last year, and just slightly less than October 2017. This year has been a better year than 2016 for sellers.
Days on Market
Days on market have been decreasing 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. In April 2017, it was taking about four months to get from a new listing to a contract. In November, on average that time was two and a half months.
The real estate market in the town of Monroe NY remains healthy. Homes are selling, price points are strong, and days on market are shrinking. 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 email@example.com.
For previous market results reports, click here.