Earlier this week we looked at the 2014 statistics for Rumson home sales. We reported that the median home selling price was $1,130,000, an increase of 7% from 2013 (the median is the price at which 50% of homes sell for more and 50% sell for less). We also reported the average home selling price was $1,285,986, an increase of 2% from 2013. However, if you’re thinking of buying a Rumson home this year, the overall median and average sales prices may not be as helpful as knowing what those numbers are for homes with a specific number of bedrooms.
How do we get that information? No problem- I just take my comprehensive Excel spreadsheet of 2014 Rumson home sales, sort by the number of bedrooms, and ask for the Median and Average values by number of bedrooms. It might surprise you, but there actually were three 2-bedroom Rumson homes sold in 2014. They sold for $400,000 for a Victorian, $415,000 for a Cape Cod and $565,000 for a Colonial. With only 3 sales, it’s not useful to calculate median or average prices.
When we look at home sales for 3, 4, 5, etc. bedroom Rumson homes, here’s what we saw in 2014:
Beds Number Average Average Sales vs. Median Sold Sales Price Listing Price Listing $ Sales Price
3 16 $ 730,062 $ 766,950 95.2% $ 705,000
4 47 $1,002,860 $1,052,234 95.3% $ 955,000
5 30 $1,641,757 $1,743,500 94.2% $1,512,500
6+ 10 $2,811,592 $2,687,500 92.1% $3,053,200
If you’re looking to buy a home in Rumson, I’ll bet you haven’t seen this kind of information anywhere else. Just by looking at the information above you can get a better idea of what you might expect to pay for a home with the number of bedrooms you need. For example, you can see that the greatest number of homes in Rumson have 4 bedrooms, and that the median sales price for those homes was $955,000 (considerably less than the overall Rumson median sales price).
Regardless of your home shopping budget, I’d be happy to work with you to find the right home for you- give me a call, text me or email me!
Leonard “Len” Dunikoski, GRI
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 239-0739 (cell) (732) 530-6686 (office)