Real Estate Market Update for
Spring Lake Heights, NJ
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 9% from one year earlier, and up 10% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 470-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 12%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was 530-thousand dollars. The number of units sold decreased 44% year-over-year, and decreased 17% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.