Take a Look at Real Estate Values and Sale Statistics in Middlesex County, New Jersey!
Whether you are thinking of buying a home, planning on selling a home or are just curious as to what is happening with real estate values and sales statistics in Middlesex County, New Jersey and in your town or neighborhood, there is lots of real estate data available to preview.
In Middlesex County, the average sale price for one family homes through March, 2011 is $315,719 which is 5.1% less than 2010. and closed sale transactions are down 3.3%. The results for condos and townhouses for the same time period for average sale price are $244,905, down 5.7%, and closed sale transactions, down 11.3%.
Real estate is local. Real estate values vary from town to town and neighborh0od to neighborhood, and more importantly, market values differ from one style home to another. No two homes are exactly alike!
Closed sales in this time period result from sale contracts originated in October through early February. Mortgage interest rates did jump slightly in December, 2010 , but dropped back in late January. Yes, the winter was colder and there was more snow this year, which would definitely affect home buyer activity.
If mortgage interest rates are near historically low levels and home prices are now near 2004 price levels, what is causing the drop in real estate home purchases and the continued decline in real estate values? There are lots of reasons, such as the economy, job security, unemployment, etc. Yes, reasons such as these were the cause of many previous weak real estate markets, and are truly contributing to it now. The previous weak real estate markets I have witnessed in the 39 plus years that I am selling real estate did not last for 6 plus years and still counting!