The Long & Foster Market Minute

Focus On: Middlesex County Housing Market May 2018

Units Sold
16
Active Inventory
137
Median Sale Price
$195,000
Days On Market
116
Up 33%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 16 sold this month in Middlesex County Real Estate versus 13 last month, an increase of 23%. This month's total units sold was higher than at this time last year, an increase of 33% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 33 units or 19%. The total number of active inventory this May was 137 compared to 170 in May 2017. This month's total of 137 is higher than the previous month's total supply of available inventory of 133, an increase of 3%.

Median Sale Price
Last May, the median sale price for Middlesex County Homes was $220,000. This May, the median sale price was $195,000, a decrease of 11% or $25,000 compared to last year. The current median sold price is 19% lower than in April.

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


New Listings
30
Current Contracts
15
Sold Vs. List Price
96.9%
Months of Supply
8.6
Down -27%
Vs. Year Ago
No Change
Vs. Year Ago
Up
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In May, there was 8.6 months of supply available in Middlesex County, compared to 14.2 in May 2017. That is a decrease of 40% 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 30 homes newly listed for sale in Middlesex County compared to 41 in May 2017, a decrease of 27%. There were 15 current contracts pending sale this May, consistent with the volume a year ago. The number of current contracts is 6% lower than last month.

Sale Price to List Price Ratio
In May, the average sale price in Middlesex County was 96.9% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 116, higher than the average last year, which was 88, an increase of 32%.

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.