Morganville, NJ 07751
Sun Jan 27 2019
This week the median list price for Morganville, NJ 07751 is $685,000 with the market action index hovering around 32. This is about the same as last month’s market action index of 32. Inventory has held steady at or around 53.
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
Slight Seller’s Advantage
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.