Real Estate Market Update for
Spring Lake Heights, NJ
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 9% from one year earlier, and did not change from the previous month. These latest figures mean that buyers had a greater selection of homes to choose from compared to the same month the previous year. As you can see, the median listing price for the month was just over 500-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 5%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 440-thousand dollars. The number of units sold increased 25% year-over-year, and increased 400% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. 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.