Aberdeen Home Prices Up 4%

Last week we looked at an article in the Wall Street Journal that said home buyers were feeling a sense of “urgency” to buy now before prices go up. Well, home prices already have gone up. For the 5 month period between January 1st and May 31st, the median selling price of an Aberdeen home increased by 4% (the median is the price at which 50% of the homes sold for more and 50% sold for less).

Other good news for Aberdeen home sellers: 13% fewer homes are on the market, they sold at a 3% higher average selling price, they sold at a higher percentage of asking price and they sold after being on the market fewer cumulative days. Also important, the absorption rate decreased from 11.3 months to 7.6 months.

There was some good news for Aberdeen home buyers, though. 7% fewer homes sold this year and the average listing price is down 1%. Fewer home sales tend to keep prices down.

Here are all of the key numbers (source: Monmouth-Ocean MLS):

If you have any questions or if you’d like to talk to me about Aberdeen real estate please text me or give me a call.

Len

Leonard “Len” Dunikoski, GRI

REALTOR® Associate

Diane Turton Realtors – Rumson Office

8 West River Road

Rumson, NJ 07760

(732) 239-0739  (cell)    (732) 530-6686 (office)

ldunikoski@dianeturton.com