Obtaining Middlesex County Real Estate Statistics and understanding real estate market sales data can be very difficult to obtain and can be very confusing trying to understand! National reports and statistics cover the entire country, including new construction, one family homes and condominiums and townhouses.
Real estate statistics are reported almost daily, whether the reports are from the National Association of REALTORS, Case Shiller, Zillow, Trulia or some other real estate group. One day and one report states sale transactions and sale prices increasing and the following day a report says they have stabilized or declined. So, what information should a potential home seller or home buyer rely on?
Real estate is local! Homeowners and potential home buyers want information regarding the real estate market where they live or where they are interested in buying or selling. While sales statistics and average sale prices can be a guide to the pulse of the real estate market, there is other valuable information a home buyer or home seller should be aware of, such as days on market, listing inventory and the amount of new listings coming on the market compared to the amount of under contract sale transactions.
What has happened with Middlesex County Real Estate Statistics through September, 2012? Have closed real estate sales transactions increased in 2012? Did real estate values increase, drop or level off in 2012?
Below is a Town to Town Comparison of closed sales in Middlesex County comparing January 1, 2011 to September 30, 2011 to January 1, 2012 to September 30, 2012. Take a look at sale transactions and average sale prices.
Yes, there has been more sales activity in 2012! Total sale transactions have increased 14.1% for residential one family homes in Middlesex County! Yes, you would assume that if sales activity increased, there would also be an increase in average sale prices. However, that is not the case. The average sale price fell 1.2%!
In 18 Towns, real estate sales transactions increased and average sale prices still declined while only 9 Towns saw average sale price increase with the increase in sale transactions. Statistical reports provide a guide, but again, what is true of the whole may not be true of the parts. We all know that the current real estate market comprises many short sales and foreclosures, and these type sale transactions can influence average sale price statistics.
Want a copy of this report? Just click the image just below!
Whether you are looking to buy, are interested in selling or are just curious about the real estate market, real estate is local! Real estate sales activity and real estate values vary, whether you live in Iselin, New Jersey, Colonia, Edison, in another town in Middlesex County or in any other State. They even vary from one area in a town to another. What’s true of the whole is not necessarily true of the parts!
Looking for more Middlesex County Real Estate Statistics? View previous 2012 Quarterly Sales Reports and view closed sales in specific towns in Northern Middlesex County? Take a Look here!____________________________________________________________________________________________
The above article,“Middlesex County Real Estate Statistics for 2012, Third Quarter”, was written by David Fialk, REALTOR, Broker Owner, Choice Realty Co., Iselin, New Jersey and regularly posts real estate articles of interest for home buyers, home sellers and home owners.