This is an update on the current Manahawkin Real Estate Market. Please contact me to set an appointment for a FREE Comparative Market Analysis (CMA).
In the Manahawkin real estate market conditions continue to favor sellers over buyers, as fewer houses become available compared to this time last year. February 2018 found a decrease of new listings, a decrease in active listings and a decrease of pending (under contract) listings for all real estate in Manahawkin, according to information from the Monmouth Ocean Multiple Listing Service (MOMLS).
Manahawkin Housing Market Update: Year to Date in Comparison to Last Year:
· Absorption Rate: 3.54 Months (shows how long current inventory of properties would last at current rate of sales – anything less than 6 months indicates a “seller’s market.”)
· Median List Price: Up 6.00%
· Median Sale Price: Up 9.91%
· Median Days on Market: Down 10.64% (number of days on market before property sells)
· Sold Listings: 9, down 41.7% (due to lack of inventory)
· Pending Listings: Unchanged (again, due to lack of inventory)
· Active Listings: down 8.4% (significant drop in houses on the market than last year)
· New Listings: down 10.8% (less homes are coming on the market)
Bottom Line: The above statistics all point to a “Seller’s Market.” If you’re thinking about selling your home, now may be the time to do it … before builders start new construction in the spring which could result in more competition for potential buyers looking for a home in Manahawkin.
Any estimate you’ve received without me actually seeing the house is a very simplistic “snapshot” of your home’s current value. In order to get a better idea of what your home would sell for in the current market, we’d need to complete a Comparative Market Analysis.
A CMA is an examination of the prices at which similar properties in the same area recently sold and compare size, location, amenities, condition and other factors.
If you have any questions, please contact me at your convenience.