What Was the Market Like in January?

I’ve had several people ask what happened to our local real estate market in January. Many would like to see if Super Storm Sandy affected the market, and that’s certainly understandable.

If you’ve been following my posts for a while, you know that I don’t like to draw any conclusions from time periods that involve less than 20 sales. Last year I waited until the end of the 1st quarter before publishing any numbers or trying to interpret them. However, because there’s so much interest, I’ve decide to show you some of the January data for single-family home sales in Rumson and Fair Haven:

Rumson

Number Sold

Average CDOM

Median Sales Price

2013

7

125

$   675,000

2012

5

112

$1,300,000

 

Fair Haven

Number Sold

Average CDOM

Median Sales Price

2013

4

57

$505,038

2012

4

137

$612,500

Where CDOM = Cumulative Days On Market

So what can we conclude from this information? Nothing at all! There are just too few sales for us to work with. Let’s be patient and wait until we have more information to work with.

Len

Leonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

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This entry was posted in Fair Haven Real Estate, Fair Haven real estate agent, Rumson Fair Haven Real Estate, Rumson NJ Real Estate, Rumson real estate agent and tagged . Bookmark the permalink.

One Response to What Was the Market Like in January?

  1. MTG_Motivated says:

    Nice article. Lets see what the rest of the year has to offer.

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