The Long & Foster Market Minute

Focus On: Middlesex County Housing Market April 2019

Units Sold
10
Active Inventory
133
Median Sale Price
$212,500
Days On Market
200
Down -23%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 10 sold this month in Middlesex County Real Estate versus 8 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 23% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 5%. The total number of active inventory this April was 133 compared to 140 in April 2018. This month's total of 133 is higher than the previous month's total supply of available inventory of 123, an increase of 8%.

Median Sale Price
Last April, the median sale price for Middlesex County Homes was $240,000. This April, the median sale price was $212,500, a decrease of 11% or $27,500 compared to last year. The current median sold price is 23% lower than in March.

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


New Listings
33
Current Contracts
16
Sold Vs. List Price
93.8%
Months of Supply
13.3
Up 18%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Up 23%
Vs. Year Ago

Months of Supply
In April, there was 13.3 months of supply available in Middlesex County, compared to 10.8 in April 2018. That is an increase of 23% 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 33 homes newly listed for sale in Middlesex County compared to 28 in April 2018, an increase of 18%. There were 16 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 7% higher than last month.

Sale Price to List Price Ratio
In April, the average sale price in Middlesex County was 93.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 200, higher than the average last year, which was 92. 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.