A Rumson Real Estate Market Analysis

The real estate market may be characteristically quiet from November to February. But serious buyers and sellers tend to be more motivated during this time of the year, so don’t assume it's a bad time to buy or sell, real estate blogger Len Dunikoski tells readers.

Dunikoski gives a full analysis of the market in Rumson, pointing to several indicators and saying that, for instance, "for most of the year there was a low inventory (i.e., supply) of Rumson homes on the market, but that’s changed in the past four months.

"At the end of June there were 11 percent more Rumson homes for sale than there were a year ago, and, as of the end of September, that number has grown to 24 percent."

For Rumson, Dunikoski also cites that compared to last year at this time, single-family home sales have increased by 17 percent, a statistic that stayed level for the past three months, he says.

Another factor to consider, Dunikoski says, is that fewer listings usually result in hiked selling prices while more listings tend to force prices down, because there are fewer houses from which to choose.

But, he points out, the number of listings is only one of the four key objective real estate indicators realtors monitor on a monthly basis. The number of actual sales is an indicator of demand, and more sales tend to drive prices higher, whereas fewer sales typically predict lower future sales prices.

Another market indicator, Dunikosi says, is that "as of the end of September, the median Rumson home price was down 5 percent, but the average price was up 6 percent."

Read Dunikoski's entire blog for his full insight and analysis of the Rumson real estate market this month.