Last week we looked at the 2014 selling prices of Rumson homes by the number of bedrooms, and today we’ll do the same for Fair Haven. For Fair Haven as a whole, 2014’s median sales price was $715,000 (7% higher than in 2013), and the average sales price was $827,075 (3% higher than the year before).
Searching through my own database of Fair Haven home sales, here’s the breakdown by the number of bedrooms:
Beds Number Average Average Sales $ vs. Median Sold Sales Price Listing Price Listing $ Price
2 5 $327,400 $347,980 94.1% $325,000
3 24 $645,250 $666,669 96.8% $535,000
4 52 $882,827 $919,833 96.0% $792,500
5 9 $1,012,111 $1,064,544 95.1% $750,000
In addition, two 6-bedroom Fair Haven homes sold in 2014, one on Battin Road for $1,990,000 and the other on Kemp Avenue for $2,495,000.
The numbers above should help you if you’re thinking of buying a home in Fair Haven this year. If you’re a young family and had looked only at Fair Haven’s overall median sales price of $715,000 (the price at which 50% of the homes sold for more and 50% sold for less) you might have concluded that you can’t afford to buy in Fair Haven. However, when you look at 3 bedroom homes and see that the median sales price was $535,000 you get an entirely different picture.
It’s clear that most Fair Haven homes have 4 bedrooms, and if you’re looking for a 4 bedroom home, the actual median price is higher than Fair Haven’s overall median price. In a bit of a surprise, the median price for 5 bedroom homes was lower than that for 4 bedroom homes (but only 9 homes sold with 5 bedrooms).
I’ve lived in Fair Haven since 1975 and I love this town. If you’d like to look at homes in Fair Haven I’d be glad to show you what’s available in your budget range- give me a call! You’re probably already looking for homes online, and that’s great. However, remember my recommendation: if you find a home you like, don’t call the Listing Agent (even if it’s me). The Listing Agent has a fiduciary responsibility to negotiate the highest selling price for the Seller; you want a Realtor® acting as your Buyer’s Agent to negotiate the lowest selling price for you.
(732) 239-0739 (cell) (732) 530-6686 (office)