The Long & Foster Market Minute

Focus On: Middlesex County Housing Market November 2017

Units Sold
13
Active Inventory
132
Median Sale Price
$250,000
Days On Market
154
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 30%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 13 sold this month in Middlesex County Real Estate versus 14 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 30% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 22 units or 14%. The total number of active inventory this November was 132 compared to 154 in November 2016. This month's total of 132 is lower than the previous month's total supply of available inventory of 146, a decrease of 10%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last November, the median sale price for Middlesex County Homes was $185,750. This November, the median sale price was $250,000, an increase of $64,250 compared to last year. The current median sold price is higher than in October.

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

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New Listings
10
Current Contracts
11
Sold Vs. List Price
93.8%
Months of Supply
10.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -9%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In November, there was 10.2 months of supply available in Middlesex County, compared to 15.4 in November 2016. That is a decrease of 34% 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.

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New Listings & Current Contracts
This month there were 10 homes newly listed for sale in Middlesex County compared to 11 in November 2016, a decrease of 9%. There were 11 current contracts pending sale this November compared to 8 a year ago. The number of current contracts is 38% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Middlesex County was 93.8% of the average list price, which is 2.1% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 154, higher than the average last year, which was 94. This increase was impacted by the limited number of sales.

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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.