Health & Fitness
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.
Find out what's happening in Rumson-Fair Havenwith free, real-time updates from Patch.
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:
Find out what's happening in Rumson-Fair Havenwith free, real-time updates from Patch.
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)