It's February 2012, and the short answer to this question is "NO!". In 2012, median home prices were up 8% in Rumson and 3% in Fair Haven, and 2013 has started out as a strong year. Inventory is low and buyers are out there.
I live in Fair Haven and our office is in Rumson. If you'd like to see specific information about the number of sales, number of listings, median sales prices and absorption rates take a look at my blog, http://rumsonfairhavenhome.wordpress.com/2013/01/04/rumson-home-prices-up-8-in-2012/
That link points you to a January post, but as you'll see, there are at least 2 or 3 posts every week. They cover not just Rumson-Fair Haven real estate, but lots of other topics of local interest.
Leonard â€œLenâ€ Dunikoski, GRI
Diane Turton Realtors â€“ Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 239-0739 (cell) (732) 530-6686 (office)