Local Market Update for August 2016

Provided by New Jersey REALTORS

Somerset County
Somerset County

Single Family

August

Key Metrics
New Listings
Closed Sales
Days on Market Until Sale
Median Sales Price*
Percent of List Price Received*
Inventory of Homes for Sale
Months Supply of Inventory

Year to Date

2015

2016

Percent Change

363

316

- 12.9%

348

366

+ 5.2%

56

64

+ 14.3%

$490,000

$502,250

97.6%
1,664
7.5

Townhouse-Condo

Thru 8-2015

Thru 8-2016

Percent Change

3,634

3,639

+ 0.1%

1,778

1,846

+ 3.8%

72

73

+ 1.4%

+ 2.5%

$470,000

$470,000

0.0%

97.7%

+ 0.1%

97.1%

97.2%

+ 0.1%

1,505

- 9.6%

--

--

--

6.4

- 14.7%

--

--

--

August

Key Metrics
New Listings
Closed Sales
Days on Market Until Sale
Median Sales Price*
Percent of List Price Received*
Inventory of Homes for Sale
Months Supply of Inventory

2015

2016

142
119

Year to Date
Percent Change

Thru 8-2015

Thru 8-2016

133

- 6.3%

1,374

1,262

- 8.2%

128

+ 7.6%

827

883

+ 6.8%
- 10.6%

60

52

- 13.3%

66

59

$260,000

$263,000

+ 1.2%

$259,995

$255,000

- 1.9%

97.6%

97.6%

0.0%

97.5%

97.4%

- 0.1%

482

332

- 31.1%

--

--

--

4.7

3.1

- 34.0%

--

--

--

Adult Community

August

Key Metrics
New Listings
Closed Sales
Days on Market Until Sale
Median Sales Price*
Percent of List Price Received*
Inventory of Homes for Sale
Months Supply of Inventory

Percent Change

Year to Date

2015

2016

Percent Change

Thru 8-2015

Thru 8-2016

Percent Change

15

19

+ 26.7%

157

179

+ 14.0%

16

15

- 6.3%

99

91

- 8.1%

58

52

- 10.3%

69

65

- 5.8%

$416,000

$429,900

+ 3.3%

$397,000

$419,000

+ 5.5%

97.9%

97.5%

- 0.4%

97.8%

97.5%

- 0.3%

58

82

+ 41.4%

--

--

--

4.4

6.9

+ 56.8%

--

--

--

* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.

Historical Median Sales Price by Property Type

Single Family

Townhouse-Condo

By Month

Adult Community

$800,000

$600,000

$400,000

$200,000

$0
1-2010

1-2011

1-2012

1-2013

1-2014

1-2015

1-2016

Current as of September 20, 2016. All data from the multiple listing services in the state of New Jersey. The margin of error for numbers reported at the statewide level is +/- 4% at the 95% confidence
level. Report 2016 by ShowingTime 10K.