Health & Fitness
7 Month Year-to-Date Update on Little Silver Home Sales
A quick update on single-family home sales in Little Silver.
We still have a full month before Labor Day and all of us want to enjoy our last full month of summer time. Home buyers and sellers were busy in July, and here's a short update on the real estate market in Little Silver. The numbers speak for themselves:
Little Silver Home Sales, January - July 2012 (7 Months Year To Date)2011 2012 Comment
Sales (Demand) 29 38 31% more homes sold.
Listings (Supply) 55 49 11% fewer homes on market.
Months' Supply (Absorption Rate) 10.0 7.1 Supply/Demand is Positive
Average Sale $ (Value) $575,810 $565,644 2% lower average sales price.
Median Sale $ (Value) $530,000 $455,000 14% lower median sales price.
Please note that the above chart is for single-family homes only (no condominiums). I've explained the meaning of "Absorption Rate" in previous posts. REALTORS calculate the Absorption Rate in different ways; I base the current rate of sales on the most recent 12 month period because I feel that anything shorter than that can be distorted by seasonal differences in the real estate market.
Find out what's happening in Little Silver-Oceanportwith free, real-time updates from Patch.
Len
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