Mike Korchinski, a department vice chairman at Coldwell Banker Realty, cited a 16 p.c enhance in Monroe residence costs final yr, and one other 4 p.c enhance throughout the first quarter of 2022. “We’re on tempo for an annual enhance of 12 p.c for 2022,” he stated. “It’s astronomical.”
However that hasn’t stopped patrons. Jane Ferro, a gross sales affiliate with the Levinson Ferro Crew at Coldwell Banker, stated sellers are receiving a number of affords inside days of itemizing their houses. “Stock is low, patrons are coming in droves and all the pieces goes over asking.”
Based mostly on data supplied to and compiled by SmartMLS, Inc., as of Might 17 there have been 18 single-family houses in the marketplace, from a 1,568-square-foot, three-bedroom colonial in-built 1955 on 0.23 acres and listed for $190,000, to a 6,942-square-foot, six-bedroom colonial in-built 1993 on 2.86 acres and listed for $1.749 million. There have been 10 condominiums on the market, from a 1,671-square-foot two-bedroom in-built 1994 and listed for $350,000, to a 2,456-square-foot, two-bedroom in-built 2022 and listed for $579,900. There was one multifamily residence in the marketplace, a 3,591-square-foot five-bedroom listed for $539,900.
The median sale worth for a single-family residence throughout the 12-month interval ending Might 17 was $485,000, up from $440,800 throughout the previous 12 months. For multifamily houses, the median worth was $429,500, down from $470,000 throughout the previous 12 months. For condominiums, the median worth was $302,500, up from $235,000.