The Long & Foster Market Minute

Focus On: Middlesex County Housing Market February 2019

Units Sold
8
Active Inventory
117
Median Sale Price
$198,000
Days On Market
175
Up 14%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 8 sold this month in Middlesex County Real Estate versus 12 last month, a decrease of 33%. This month's total units sold was higher than at this time last year, an increase of 14% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 11%. The total number of active inventory this February was 117 compared to 132 in February 2018. This month's total of 117 is higher than the previous month's total supply of available inventory of 112, an increase of 4%.

Median Sale Price
Last February, the median sale price for Middlesex County Homes was $170,000. This February, the median sale price was $198,000, an increase of 16% or $28,000 compared to last year. The current median sold price is 17% lower than in January.

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


New Listings
20
Current Contracts
8
Sold Vs. List Price
97.2%
Months of Supply
14.6
Down -9%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In February, there was 14.6 months of supply available in Middlesex County, compared to 18.9 in February 2018. That is a decrease of 22% 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 20 homes newly listed for sale in Middlesex County compared to 22 in February 2018, a decrease of 9%. There were 8 current contracts pending sale this February compared to 7 a year ago. The number of current contracts is 14% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Middlesex County was 97.2% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 175, higher than the average last year, which was 115. 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.