The Long & Foster Market Minute

Focus On: Middlesex County Housing Market September 2019

Units Sold
17
Active Inventory
140
Median Sale Price
$228,000
Days On Market
152
Up 13%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 17 sold this month in Middlesex County Real Estate versus 20 last month, a decrease of 15%. This month's total units sold was higher than at this time last year, an increase of 13% versus September 2018.

Active Inventory
The total number of homes available this month is 140 units, which is similar compared to a year ago. This month's total of 140 is lower than the previous month's total supply of available inventory of 157, a decrease of 11%.

Median Sale Price
Last September, the median sale price for Middlesex County Homes was $275,000. This September, the median sale price was $228,000, a decrease of 17% or $47,000 compared to last year. The current median sold price is 23% lower than in August.

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


New Listings
11
Current Contracts
15
Sold Vs. List Price
95.4%
Months of Supply
8.2
Down -8%
Vs. Year Ago
Up 67%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In September, there was 8.2 months of supply available in Middlesex County, compared to 9.3 in September 2018. That is a decrease of 12% 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 11 homes newly listed for sale in Middlesex County compared to 12 in September 2018, a decrease of 8%. There were 15 current contracts pending sale this September compared to 9 a year ago. The number of current contracts is 67% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Middlesex County was 95.4% of the average list price, which is 3.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 152, lower than the average last year, which was 163, a decrease of 7%.

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.