5 Months Year to Date Update on Fair Haven Home Sales

After 5 months, about the same number of single-family homes sold in Fair Haven this year compared to last year, and they have taken longer to sell. However, the good news is that the average selling price has increased by 4.7%:

2011

2012

Sales (Demand)

29

28

Listings (Supply)

49

48

Months’ Supply (Absorption Rate)

7.0

7.7

Average Sale $ (Value)

$653,403

$689,410

Average Listing $

$682,689

$713,085

 Avg Sale/List %

95.7%

96.7%

Average Cumulative Days On Market

104

111

 

Average Fair Haven home prices have been relatively stable for the past 8 years, and this year’s increase offsets the 4.2% decrease that we saw in 2011 compared to 2010. June, July and August are traditionally the months with the greatest number of home sales, so by Labor Day we should have a better idea whether a positive trend is occurring or whether it’s just a slight fluctuation within an existing range.

Len

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This entry was posted in Fair Haven Homes Sold, Fair Haven Local Expert, Fair Haven Real Estate, Rumson-Fair Haven. Bookmark the permalink.

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