The Long & Foster Market Minute

Focus On: Middlesex County Housing Market October 2018

Units Sold
10
Active Inventory
138
Median Sale Price
$274,000
Days On Market
226
Down -29%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 10 sold this month in Middlesex County Real Estate versus 15 last month, a decrease of 33%. This month's total units sold was lower than at this time last year, a decrease of 29% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 11%. The total number of active inventory this October was 138 compared to 155 in October 2017. This month's total of 138 is lower than the previous month's total supply of available inventory of 140, a decrease of 1%.

Median Sale Price
Last October, the median sale price for Middlesex County Homes was $241,500. This October, the median sale price was approximately the same at $274,000. The current median sold price is 13% higher than in October 2017.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
22
Current Contracts
11
Sold Vs. List Price
92.2%
Months of Supply
13.8
Up 5%
Vs. Year Ago
Down -31%
Vs. Year Ago
Down -1.7%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In October, there was 13.8 months of supply available in Middlesex County, compared to 11.1 in October 2017. That is an increase of 25% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 22 homes newly listed for sale in Middlesex County compared to 21 in October 2017, an increase of 5%. There were 11 current contracts pending sale this October compared to 16 a year ago. The number of current contracts is 31% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Middlesex County was 92.2% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 226, higher than the average last year, which was 139. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by CBRAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CBRAR or Long & Foster Real Estate, Inc.