Forked River 08731, Home Market Trends for April 29, 2015

Posted by Robert McLaughlin on Thursday, April 30th, 2015 at 3:30am.

This Week

The median list price in FORKED RIVER 08731 this week is $289,000.

Inventory is tightening and days-on-market is falling. But demand as measured by the Market Action Index is also trending down. The market is not giving strong up or down signals from these data.

Suppy and Demand

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer's market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.

Real-Time Market Profile

Median List Price $289,000
Asking Price Per Square Foot  $178
Average Days on Market (DOM)  204
Percent of Properties with Price Decrease  36%
Percent Relisted (reset DOM)  63%
Percent Flip (price increased)  4 %
Median House Size (sq ft)  1772
Median Lot Size  6,502-8,000 sq ft
Median Number of Bedrooms  3.0
Median Number of Bathrooms  2.0
Market Action Index - Strong Buyer  18.6

Home Characteristics per Quartile

Investagate the market in quartiles - where each quartile is 25% of homes ordered by price.

 Quartile  Median Price  Sq. Ft. Lot Size   Beds  Baths  Age Inventory  New   Absorbed  Dom  
 Top/First  $ 529,900  2712  6,500-8000sqft  4.0  3.0  25  65  4  2  243 Most expensive 25% of properties 
 Upper/Second  $ 349,000  1960  8,001-10,000sqft  3.0  2.0  31  66  6  4  233  Upper-middle 25% of properties
 Lower/Third  $ 250,000  1548  8,001-10,000sqft  3.0   2.0  37  66  4  3  175  Lower-middle 25% of properties
 Bottom/Fourth  $ 175,750  1111  8,001-10,000sqft  2.0  1.0  45  66  7  9  164  Least expensive 25% of properties

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