Health & Fitness
Little Silver Single-Family Home Sales Remain Positive
There's lots of good news about single-family home sales in Little Silver. More homes have sold, average prices are higher, and you'll want to read the whole article.
There’s ongoing strength in the Little Silver single-family home market. Although there were fewer August home sales this year (7) compared to last year (15), both the average and median monthly sales prices were higher. In addition, the all-important Real Estate Absorption Rate (the number of months it would take to sell all of the houses currently on the market if home sales continue at the present rate) remains better (lower) than it was a year ago. Here’s what the numbers look like in table form:
Little Silver Home Sales, January - August (8 Months Year To Date)
2011
Find out what's happening in Little Silver-Oceanportwith free, real-time updates from Patch.
2012
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Find out what's happening in Little Silver-Oceanportwith free, real-time updates from Patch.
Sales (Demand)
44
46
5% more homes sold.
Listings (Supply)
48
39
19% fewer homes on market.
Months' Supply (Absorption Rate)
8.3
7.7
Supply/Demand Remains Positive
Average Sale $ (Value)
$592,215
$596,169
1% higher average sales price.
Median Sale $ (Value)
$505,000
$485,000
4% lower median sales price.
The Absorption Rate dipped a bit, from 7.1 months at the end of last month to 7.7 months now, but as you can see, year-to-date sales, listings and average sale prices remain positive. In addition, the average number of days that a home was on the market is lower this year than it was last year. If you’d like to discuss this information further, just give me a call or send me an e-mail.
September is a busy month for many people, with schools reopening and the end of summer vacations. However, the real estate market tends to be strong between Labor Day and Thanksgiving. There are still lots of potential home buyers and sellers, and the ones who are out there tend to be more serious than the ones who were “just looking” in the spring and summer.
Currently I’m working with some clients who are relocating and are looking for a medium-priced home in a town that’s close to the shore and yet convenient for a daily commute into Manhattan. As their trusted real estate advisor, it’s no surprise that I’m recommending both Little Silver and Oceanport.
Leonard “Len” Dunikoski
REALTOR Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 239-0739 cell (732) 530-8868 office
