Simplifying The Market

Tuesday, December 6, 2016

October 2016 Luxury Housing Market Update - Long & Foster Real Estate, Lux Insight

Cape May County New Jersey
Luxury Housing Market Update - October 2016

Compared to last October, the total number of homes more than $1 Million available this month was lower by 1.0% and lower by 15.4% compared to October 2014. Active inventory this October was 3.1% lower than the previous month’s supply of available inventory.

This month’s units sold for homes more than $1 Million was higher than at this time last year, an increase of 43.3% versus last October and an increase of 30.3% versus October of 2014. There was a decrease of 15.7% in luxury units sold in October compared to September of this year.

In October, the median sales price for homes more than $1 Million was $1,560,000, an increase of 6.2% compared to last year. The current median sales price was lower by 1.6% than in September.

View full PDF below.

Nancy M. Alexander Stone Harbor and Avalon NJ Real Estate, Long & Foster Avalon