Tuesday, December 2, 2008

Outbreak of RDS (Rampant Denial Syndrome) Hits Toms River, NJ!

Some FASCINATING statistics for November in Toms River, NJ:


Statistics Summaries Report

Category - SingleFamily / Area: TOM - TOMS RIVER TWP / County: OceanStatistics for Entire MLS from 11/01/2008 to 11/30/2008



Total

Total List / Closed $

Avg List $

Avg Closed $

Avg DOM

Median Price $

%SP/LP

New

109

$53,993,900 / n/a

$495,357

n/a

17

$375,000

n/a

Under Contract

38

$14,936,496 / n/a

$393,066

n/a

63

$272,450

n/a

Closed

46

$19,293,212 / $18,131,450

$419,418

$394,162

111

$296,500

93.98%

Expired

77

$36,429,631 / n/a

$473,112

n/a

188

$365,000

n/a

Currently Active (as of today)

729

$360,865,054 / n/a

$495,014

n/a

118

$399,000

n/a

--Information deemed reliable but not guaranteed--Copyright: 2008 by the Monmouth County Association of REALTORSR
We Never Stop Moving!

Prepared by JAMES FLANAGAN of COLDWELL BANKER FLANAGAN REALT on 12/2/2008 8:50:07 AM


Why would I call them "fascinating"? Let's take a closer look, shall we?

  • 46 Homes CLOSED during November at an average price of $394,162
  • And ONLY 38 homes went UNDER CONTRACT at an average price of $393,066
  • SO, why did 109 NEW homes LIST for an average of $495,357 when…
  • 77 homes EXPIRED at an average LIST price of $473,112????????????

Here's my Official Diagnosis:

Toms River, NJ, continues to suffer from RDS (Rampant Denial Syndrome). When 109 Sellers think they will sell for more money than 77 unsuccessful sellers FAILED to sell for; that's RAMPANT DENIAL SYNDROME! When real estate agents continue to LIST homes for an average of $100,000 OVER the current CLOSED price; that's RAMPANT DENIAL SYNDROME! When, despite the OVERWHELMING EVIDENCE ABOVE, sellers and agents REFUSE to accept REALITY; that is RAMPANT DENIAL SYNDROME!

CAUTION: Failure to seek immediate treatment for RDS could result in catastrophic consequences such as "short sales", "foreclosures", "bankruptcies", "insanity" and in certain cases DEATH (of a real estate agent's career)!!!

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