Thursday, October 12, 2006

4703 Houses on the MLS for Eastern Monmouth

Inventories were virtually flat with last week. Although I wonder if we inventories in the area have been undercounted all along.


"WASHINGTON, Oct 12 (Reuters) - Seven U.S. real estate brokerage firms unfairly blocked some home sellers from their listing service, the Federal Trade Commission said Thursday."

Snip...

"The agency settled its complaints against Information and Real Estate Services, LLC of Colorado; Northern New England Real Estate Network, Inc., of New Hampshire; Williamsburg Area Association of Realtors, Inc. based in Virginia; Realtors Association of Northeastern Wisconsin, Inc., and Monmouth Country Association of Realtors, Inc. of New Jersey."

Full article...

3 Comments:

Anonymous Anonymous said...

Not surprising at all. I know at least 8 realtors in Monmouth County, Sea Girt and I wouldn't trust any of them - they all will lie straight to your face then laugh on the way to the bank with your money.

Thursday, October 12, 2006 8:26:00 PM  
Anonymous Anonymous said...

Ocean Cty's MLS as well as the other two Monmouth MLS's remain below they're September (27 or 28) peaks.

I think we are in the period when all voluntary sellers realize the market is not worth entering so no one is putting their house up unless they have to.

I've been wondering how much for sale inventory we can have, and we're right around 5 percent which I think is very high.

I've started tracking median asking price using the MLS's and it seems to have drifted down a bit across the board.

I say seems because a few weeks ago many age-restricted communities jumped from the condo listings to the SFH listings complicating the situation. Making it more complicated, some seem to have moved back now.

I don't have my stats here with me, so I'm going from memory, but here are good ballpark SFH asking price numbers

E.Mon $490K
W.Mon $560K
S.Mon $780K
O.C. $360K

Before the age-restricteds moved to the SFH listings OC's SFH price was $400K

For what it's worth, median household income is now about $75K in the county, so the median family is pretty much priced out of the county.

Lindsey

Thursday, October 12, 2006 11:12:00 PM  
Blogger lindsey said...

Ed,

Inventory in Monmouth and Ocean seems to be dropping in the middle of the month, which was not the case last year.

I'm not sure what role FSBOs are playing exactly, but I would say I see more FSBO signs these days.

The chill in the local RE market looks like it's coming early this year, but who knows, maybe last year (the only one I have data for) was late.

It will be interesting to see how the opportunity for discounted access to the MLS plays out.

Sunday, October 15, 2006 3:01:00 PM  

Post a Comment

<< Home