Tinton Falls Market Update
- Jenna Raines
- Dec 29, 2015
- 1 min read
These figures are current as of December 8th, 2015.
Quick facts about home sales in Tinton Falls for November 2015 vs. November 2014:
We had a great November! As always, if you're looking for more specific information or more year-to-date figures, please reach out to me.
While the median sales price of single-family homes dropped 12.7% from $481,250 to $420,000, I wouldn't get too hung up on this as there is such a variation of home types in the borough. The number I get more excited about is the average days on market (DOM). This number reduced year over year by 36.8%, down from 114 days to 72 days. That's great movement! There are 22.5% fewer homes for sale than there were a year ago. Inventory is low, so this increases demand. If priced correctly, homes sell very quickly! Year to date, there have been 132 single family homes sold in Tinton Falls. That's a little over one every three days! Say hello to your new neighbors!
The median sales price for townhouses and condos went up by 27%, from $200,725 to $255,000. The DOM went up, but still beats out single-family homes coming in at just 69 days. Townhouse and condo prices have gone up and they are selling sooner because, again, we have lower inventory.
Look for quick facts on December's market conditions to come out in early January!
Thank you for reading this far! If you have any further questions about real estate, please contact me:
Jenna Raines
732-556-8894
jenna.raines@bhhsnj.com
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