After researching short sales for Middletown NJ 07748
houses for sale for the past fourteen months, I was surprised to learn the effect of a
downward real estate market has had on recent values.
There is no indicator field in the Monmouth Ocean County Multiple
Listing Service (MLS) to flag an actual short sale. In our market
Realtors indicate a short sale status in the Public Remarks or Agent
- Of the twenty seven (27) closings the average Days-on-Market was 129
days.Â Meaning from list date until the deal went "under contract,"
there was an average processing time of 129 days.
- Of course, from Under Contract to Settlement took additional time.Â
Those 27 short sale closings only accounted for 5% of the 530 sales in
that period.Â Conversely, 95% of the Middletown sales for the last 14
months were NON-short
No, the Middletown real estate market is not characterized by a
surplus of short sale single family homes in zipcode 07748.
Andrew J. Lenza, ABR GRI MBA
Broker Sales Associate, Coldwell Banker Residential Brokerage