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Health & Fitness

A Mixed Picture for Holmdel Real Estate

The Holmdel real estate market is still struggling, as shown by the 10 month year-to-date statistics.

Normally we look at the “top 4” objective real estate indicators, so let’s start with those:

Sales were up 2% (131 so far in 2013, vs. 128 in 2012). Increased sales tend to push prices higher.

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The number of listings was up 24% (108 at the end of October 2013, vs. 87 a year ago). An increased number of listings tends to push prices lower.

The median sale price was down 1% ($650,000 in 2013 vs. $653,375 in 2012), and the average sales price was up 6% ($747,286 in 2013 vs. $704,526 in 2012).

Find out what's happening in Holmdel-Hazletwith free, real-time updates from Patch.

The real estate absorption rate was 6.7 months, vs. 8.1 months one year ago (see my previous posts if you’re not familiar with the definition of the absorption rate and its significance).

Since we’re coming to the end of the year, let’s drill down into some other numbers. Many REALTORS® like to look at the average percentage of Selling Price to Asking Price. For Holmdel, that percentage was 94.4% a year ago, and now it’s up slightly (to 94.7%). The average year-to-date asking (listing) price was 789,099 and we get the Selling Price vs. Asking Price percentage by dividing the average sales price ($747,286) by the average asking price ($789,099).

One last number: the average Cumulative Days on the Market. When a house is listed for sale, REALTORS® count the number of days it’s on the market (DOM) before an offer is accepted. If a listing expires (say after 90 days) and the house is later re-listed for sale, the 2nd number of days on the market is added to the first number (90 days) to give the TOTAL, or Cumulative number of days on the market. A year ago the average CDOM was 113, and now it’s 100. .

If you’ve been thinking of listing your Holmdel home for sale, text, call or email me for a no-obligation discussion about strategy and timing

 

Len

 

Leonard “Len” Dunikoski, GRI

REALTOR® Associate

Diane Turton Realtors – Rumson Office

8 West River Road

Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com

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