New Weakening in Contracts for 11801 Zip Code Real Estate Market

Sales remained steady from last week to this week, with 31 homes sold in the 11801 zip code market over the last 30 days. However, an identifiable downturn in the number of pending transactions continued, with 30 completed in the same period. All indications show that the trend may be coming to an end, meaning more pending transactions over the next few weeks. The median sales price dropped to $430,000 over the latest reporting period for the 11801 zip code, down from $440,000. There are only three months of inventory available in the 11801 zip code, so it's still seller's market, even with the shrinking contracts numbers.

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Demographic facts for the 11801 zip code:

  • The total number of vacant homes in the area is 2.6%.
  • This area usually gets 180 sunny days each year. (U.S. average: 205)
  • There are 596 students for every librarian. (803 = national average)

Data reported through 10/12/2016

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