The Long & Foster Market Minute

Focus On: Middlesex County Housing Market July 2018

Units Sold
12
Active Inventory
135
Median Sale Price
$147,500
Days On Market
100
Up
Vs. Year Ago
Down -12%
Vs. Year Ago
Down
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in July, with 12 sold this month in Middlesex County Real Estate. This month's total units sold was higher than at this time last year, an increase from July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 12%. The total number of active inventory this July was 135 compared to 154 in July 2017. This month's total of 135 is lower than the previous month's total supply of available inventory of 142, a decrease of 5%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last July, the median sale price for Middlesex County Homes was $332,383. This July, the median sale price was $147,500, a decrease of $184,883 compared to last year. The current median sold price is lower than in June.

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


New Listings
19
Current Contracts
17
Sold Vs. List Price
92.0%
Months of Supply
11.3
Down -10%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -2.9%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In July, there was 11.3 months of supply available in Middlesex County, compared to 15.4 in July 2017. That is a decrease of 27% 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 19 homes newly listed for sale in Middlesex County compared to 21 in July 2017, a decrease of 10%. There were 17 current contracts pending sale this July compared to 16 a year ago. The number of current contracts is 6% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Middlesex County was 92.0% of the average list price, which is 2.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 100, lower than the average last year, which was 184, a decrease of 46%.

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.