The Long & Foster Market Minute

Focus On: Middlesex County Housing Market December 2018

Units Sold
9
Active Inventory
112
Median Sale Price
$294,500
Days On Market
138
Down -18%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 9 sold this month in Middlesex County Real Estate versus 7 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 18% versus December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 12%. The total number of active inventory this December was 112 compared to 127 in December 2017. This month's total of 112 is lower than the previous month's total supply of available inventory of 123, a decrease of 9%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Middlesex County Homes was $158,000. This December, the median sale price was $294,500, an increase of $136,500 compared to last year. The current median sold price is higher than in November.

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
7
Sold Vs. List Price
94.7%
Months of Supply
12.4
Up 10%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 4.7%
Vs. Year Ago
Up 8%
Vs. Year Ago

Months of Supply
In December, there was 12.4 months of supply available in Middlesex County, compared to 11.5 in December 2017. That is an increase of 8% 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 10 in December 2017, an increase of 10%. There were 7 current contracts pending sale this December compared to 6 a year ago. The number of current contracts is 17% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Middlesex County was 94.7% of the average list price, which is 4.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 138, lower than the average last year, which was 195, a decrease of 29%.

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.