Rumson Real Estate: Time to Sell or Buy?

Despite what was considered a strong month by real estate experts, Rumson's August home sales statistics still paint a mixed picture, according to real estate blogger Len Dunikoski.

With eight home sales in August, the same number of homes was sold this year as last, he says. However, the monthly median sales price was up by 19 percent, to roughly $1.5 million.

Dunikoski explains it all with statistics involving sale, median sales prices and listings.

Although the overall picture is still mixed, but, right now, considering all the statistics, Dunikoski says that it may be the right time to either sell or buy a house in Rumson.

"It’s a good time to sell, because your home will probably sell faster than it would have a year ago, and you may sell for a higher percentage of the listing price (assuming, of course, that your listing price correctly reflects the current market)," Dunikoski says. "It’s a good time to buy because Rumson real estate still hasn’t had the double-digit price increase that we’ve seen nationwide, and mortgage rates are still historically low."

For a full explanation and statistical data backing up how he arrived at these conclusions, read Dunikoski's entire blog post by clicking here.