Two River Real Estate Statistics - December 2011

Do you know how much homes sell for in your town? 

Here are real estate statistics for the towns in the Two River Area - Little Silver, Oceanport, Rumson, Fair Haven, Monmouth Beach, Red Bank, Shrewsbury and Middletown for December 2011.  

December home sales in the area rebounded 13%, month to month, with 68 units closing before the end of 2011.  Average closing prices on home sales was lower overall in the Peninsula region. Little Silver was the exception, showing strength in sales in higher priced sector. 

However, although the number of homes marked "Under Contract" dropped by 6 units to 66 homes overall, the average price increased in towns such as Rumson, Red Bank, Shrewsbury and Middletown. 

Inventory got even thinner with the number of homes on the market dropping by over 100 units to 649 homes for sale.  Average home prices are still soft in the region but higher pricing seen in Rumson, Fair Haven and Monmouth Beach indicate strength on the horizon. 

The average number of days of inventory on the market is about 136 days.  The recent jobs report was slightly positive but continued pressure from the European financial markets has helped to keep our mortgage rates at historical lows -- for the time being.... 

For more details or any questions, send an email to info@TwoRiverRealty.com