In a recent article, RisMedia reported that "Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of REALTORS®."  But how does our local community in the Brunswick area compare nationally?

Unfortunately, when looking at Single Family Home in North Brunswick, South Brunswick, and East Brunswick, not only did the number of home sales decline 20%, but average home prices also declined 14% (though some neighborhoods declined more than others).  However, on a positive note, Condos/Townhomes remained about the same, increasing about 5% in terms of number of sales, while declining only 0.8% in average sales price from the previous year.

So, while there has been some significant decline in Single Family Homes in the Brunswicks over the past 12 months, the fact that Townhome/Condo prices have stabilized over the same period is a positive sign.  If this trend continues, we can expect prices of higher priced homes to end their decline as well, leading to recovery in our market.

Though price trends are helpful, each home is unique, and the value needs to be individually evaluated accordingly.  If you're interested in our professional opinion on the value of your home, please contact us by clicking here or call us at 732-297-0600.

*Local data from Middlesex MLS