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08732 : Real Estate Advice

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Mon Mar 3, 2008
Diane Glander answered:
Hi Ann.

Here's some additional information for you regarding Manasquan's closed sales: (In 2007 there were also 6 multi-family sales ranging from 432,000 to 1,425,000, fyi, but the information below only pertains to single family homes.) If you are considering selling, you might want to know the market trends: For single family homes between 7/1/2007 and 9/31/2007 there were 25 sales and from 10/1/2007-12/31 /2007only 17 sales. Since the beginning of 2008 to present, however, there were only 3 closed sales--things are slowing down. Price-wise: In 2006 83 homes sold for an average sales price of 725,469 with 84 days on market and a difference of asking to selling price of -5.1%. In 2007 82 single family homes sold for an average selling price of 698,816 with an average days on market of 108 and a +/- of -5.4%. So you can see that the market is fairly stable with prices pretty much holding, just taking a bit longer to sell.

I am on my way to seminar with Jeffrey Otteau, a Fortune 500 Appraiser today and should have a better idea of what his thoughts are for the upcoming year. If you would like information on his predictions, you can email me either through Trulia or through my website.

But, if you aren't ready to speak with an agent, and would like more detailed infomation regarding market conditions, you can go to my website, below, and order a market snapshot. It is an extremely informative report that I offer free of charge. It gets all information from the Monmouth./Ocean county MLS and will show you not only active listings, but closed sales for the last 6 months with specific property information.
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