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Sold Homes Ratio or Odds of  Selling Homes in Middlesex County, New Jersey

You may have heard of Sold Homes Ratio or Odds of Selling Homes as statistical tools used in the real estate industry. Those numbers are fairly easy to calculate with source data from multi listing systems. As you know, not all homes listed through a listing agreement are actually selling. Basically a sold homes ratio provides the number of listings that successfully sold during a time period within a specific area versus the number of listed homes.

Middlesex County NJ Sold Homes Ratio - Example

Lets say we want to calculate the Sold Homes Ratio or Odds of Selling Homes for 2012 for a specific area (city, zipcode or neighborhood). We would run a query to return all listed homes during that time period (i.e 20 homes listed) and the homes that sold (i.e, 15 homes sold). The percentage ratio (15/20*100) would be 75%. For this example, 75% of homes listed during that year and that area have sold.

Pretty simple isn't it? Actually, it is a bit more complicated. The sold homes ratio in most cases when the data is pulled from a MLS refers to listing contracts rather than individual homes, meaning the same home could have been listed more than once during a year. Consequently the ratios below are for sold listings.

Sold Homes Ratio or Odds of Selling by City in 2012* (Middlesex County)

Middlesex County Cities Number of Homes Sold Number of Listings            Sold Listing Ratio or Odds of Selling (2011)                        
Avenel
56 137 41%
Carteret 102 248 41%
Colonia 141 299 47%
Cranbury 23 51 45%
Dunellen 38 87 44%
East Brunswick 250 565 44%
Edison 379 986 38%
Fords 82 195 42%
Helmetta 8 28 29%
Highland Park 50 93 54%
Hopelawn 14 35 40%
Iselin 104 215 48%
Jamesburg 16 38 42%
Keasbey 5 9 56%
Metuchen 106 189 56%
Middlesex 79 178 44%
Milltowm 47 101 47%
Monroe 146 448 33%
New Brunswick 56 148 38%
North Brunswick 106 301 35%
Old Bridge 300 663 45%
Perth Amboy 103 288 36%
Piscataway 180 455 40%
Plainsboro 65 104 63%
Port Read 19 50 38%
Sayreville 165 352 47%
Sewaren 27 45 60%
South Amboy 29 102 28%
South Brunswick 178 346 51%
South Plainfield 114 309 37%
South River 80 198 40%
Spotswood 34 92 37%
Woodbridge
80 170 47%

 

* Data from Middlesex County Multi Listing System. Calculated on 01/16/2012. Please read our disclaimer