.

What Happened to Rumson-Fair Haven Real Estate in January?

What happened to Rumson-Fair Haven real estate in January?

 

Several people have asked me what happened to our local real estate market in January.

Many are wondering what effect Superstorm Sandy will have on the local real estate market. That’s certainly understandable; and several people have asked me what home sales looked like in January.

If you’ve been following my posts for a while, you know I don’t like to draw any conclusions from time periods that involve less than 20 home sales. Last year, I waited until the end of the first quarter before publishing any numbers or trying to interpret them.

However, because there’s so much interest, I’ve decide to show you some of the January data for single-family home sales in Rumson and Fair Haven:

Rumson

Number Sold

Average CDOM

Median Sales Price

2013

7

125

$   675,000

2012

5

112

$1,300,000

 

 

 

 

Fair Haven

Number Sold

Average CDOM

Median Sales Price

2013

4

57

$505,038

2012

4

137

$612,500

Where CDOM = Cumulative Days On Market

So what can we conclude from this information? Nothing at all! There are just too few sales for us to work with. I predict that it’ll take six months or so to see if Sandy had any effect on the real estate market in Rumson and Fair Haven. Let’s be patient and wait until we have more information to work with.

Len

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)

ldunikoski@dianeturton.com

www.rumsonfairhavenhome.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »