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-h
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)
I try to help my potential clients to make DATA-DRIVEN decisions, so I post 4 objective key real estate indicators for each town: Sales (Demand), Listings (Supply), Months' Supply (Absorption Rate) and Average/Median Prices (Value).
In addition, I have EXTENSIVE RESEARCH which I share after we establish an agency relationship.
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Town Year Sales Active Listings Monthsâ€™ Supply Average Price Median Price
Rumson 2012 24 74 10.3 months $1,132,634 $1,131,667
2011 13 65 16.3 months $1,318,583 $1,165,000
Fair Haven 2012 12 52 15.2 months $ 611,055 $ 623,583
2011 16 33 7.0 months $ 562,672 $ 547,167
Sales, number of active listings, months' supply of homes and average/median price are the 4 objective indicators of the real estate market. Rumson and Fair Haven both are small towns and the 1st quarter is normally not a very busy one. Due to these 2 factors I wouldn't make any hard and fast conclusions on where the market is heading. I specialize in these 2 towns (I live here) and I update information at least monthly on my blog (see: http://rumsonfairhavenhome.wordpress.com).
Whether you're buying or selling, become familiar with the current market in your town. For example, if you feel you'd like to buy a $900,000 home in Fair Haven, find a realtor whom you trust and have him/her show you all of the Fair Haven homes that are listed for $850,000 - $950,000. You'll quickly see for yourself which ones are realistically priced and which ones aren't. Then when a new house comes on the market in Fair Haven in that price range, see it as soon as possible after it's listed and be prepared to make a reasonable offer if you know it's the right house at the right price.
Every Monday I post on my blog the previous week's home sales in Rumson, Fair Haven and a few surrounding communities, including the selling prices and the cumulative days each house was on the market (CDOM). Start looking at those Monday posts and read my quarterly summary of home sales town by town. Learn as much as you can, and then find a local real estate expert whom you trust. Don't be afraid to talk with several before you make your final selection. We're here to educate and inform, but YOU're the one who makes the final decision about buying or selling.
Leonard "Len" Dunikoski, SRES
Diane Turton Realtors - Rumson Office
8 West River Road
Rumson, NJ 07760
(732) 530-6686 office
(732) 239-0739 cell
Perhaps you've heard the saying "a home is worth what a buyer is willing to pay for it". This fact holds true in ANY area. There are good buys in any town, including the luxury markets! Not all sellers NEED to sell so you should manage your expectations but there ARE sellers out there willing to be realistic to meet today's buyer expectation....you just may not see this in asking price (sellers are as nervous to drop their price) but if you have a professional on your side, willing to dig deep and help you find the best possible home for the best possible price, you'll feel confidence in making that purchase when the time comes! I'm a local resident and can tell you that there are some exciting homes currently on the market. Good luck! Feel free to give me a call (609)847-2443 cell. Linda Gillespie
Lucille Krul, REALTOR ASSOCIATE
Diane Turton, Realtors
516 Main Avenue
Bay Head, NJ 08742