November was another good month for Fair Haven real estate sales. Nine (9) homes closed during the month, compared to 6 in November 2012. The monthly statistics should bring smiles to Fair Haven home owners: the average November sales price was up 64% ($797,222 compared to $485,616 last November) and the median sales price was up 37% ($712,500 compared to $519,500 in November 2012).
Market data from one month doesn’t mean very much, especially when you’re talking about sales of just 6 or 9 homes. We get a much clearer view of the local real estate market when we look at our 2013 year-to-date statistics, which are as follows:
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January 1 – November 30 Fair Haven Single Family Homes:
Sales were up 18% (98 in 2013 compared to 83 in 2012)
Find out what's happening in Rumson-Fair Havenwith free, real-time updates from Patch.
Listings were up 7% (31 at the end of November 2013 compared to 29)
The average sales price was up 8% ($780,782 in 2013 vs. $721,223 in 2012)
The average listing price was up 7% ($812,966 in 2013 vs. $757,052 in 2012)
The average sales price to listing price percentage was up (96.0% in 2013 vs. 95.3% in 2012)
The median sales price was similar ($660,000 in 2013 vs. $662,500 in 2012)
The real estate absorption rate was much shorter (3.2 months in 2013 vs. 5.2 months in 2013)
If you’re not a “numbers person”, all this information may seem a bit overwhelming. I’d be glad to sit down and go over it with you- no obligation, of course.
If you’re a Fair Haven home owner, it’s good to have this information, even if you’re not thinking of selling your home. If there does come a time when you’re thinking of putting your home on the market, start talking with two or three REALTORS® several months ahead of time. Ask them what they think your home would sell for, and how they came up with their estimates. Ask lots of questions, and find out how each person plans to market your home so it sells in the shortest time and for the highest price. Please let me be one of the REALTORS® you interview.
Leonard “Len” Dunikoski, GRI
REALTOR® Associate
Diane Turton Realtors – Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 239-0739 (cell) (732) 530-6686 (office)
@ListWithLen
