8 Things You Need to Know About the Current Rumson Real Estate Market

SOLD

You saw the headlines in yesterday’s newspapers, crowing about the largest nationwide increase in home sales prices in years. Naturally you’re wondering about what’s going on locally. The numbers are in for Rumson for the first 4 months of the year.

For a lot of people, the big question is whether prices are going up or down and by how much, but when we’re talking about towns along the New Jersey shore, it becomes a lot more complicated. After all, the “nation as a whole” didn’t experience the devastation that we did from super storm Sandy. The numbers for Rumson include both sales of homes that weren’t affected by the storm and homes that had substantial damage. Some of the damaged homes were sold “as is” and others were sold with only partial remediation.

Here are the numbers, compliments of the Monmouth/Ocean MLS:

Rumson Home Sales, January 1 – April 30
  2012   2013 Comment
Sales (Demand)       31       31 Same number of sales
Listings (Supply)       68       62 9% fewer listings.
Months’ Supply (Absorption Rate)       7.6       7.4 Demand vs Supply slightly stronger.
Average Sale $ (Value) $1,271,633 $1,231,419 3% lower average sales price.
Median Sale $ (Value) $1,150,000 $1,125,000 2% lower median sales price.
Average Listing $ $1,367,877 $1,330,370 3% lower listing price.
 Avg Sale/List %    93.0%    92.6% Similar Sale/List %.
Avg CDOM 106 81 Fewer CDOM

Overall the median single-family home in Rumson sold for 2% less than during the same period last year. We’ll drill down and examine the numbers more closely in another post.

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

Remodeling and Home Design
Rumson Home Professionals
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This entry was posted in Rumson Fair Haven Real Estate, Rumson Homes Sold, Rumson NJ Real Estate, Rumson Real Estate, Rumson Realtor. Bookmark the permalink.

2 Responses to 8 Things You Need to Know About the Current Rumson Real Estate Market

  1. such a helpful blog and i am not even in the market! ophelia

    http://www.sacredmeaning.wordpress.com

  2. Pingback: May Was a Weak Month for Rumson Real Estate | Rumson Fair Haven Home

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