C21 Prevete

A different real estate market in 2012 on Long Island

admin — Fri, 04 May 2012 14:25:40 +0000

We are way past the time when we can consider the recent real estate market activity on Long Island an aberration due to the weather. Under contracts remain up 12% both in Nassau and Suffolk Counties. Inventory is naturally rising as it does in the spring but significantly below last year’s levels. 1007 houses went under contract in April 2012 vs 893 last year. April 2010 was the great surge because of the first time homebuyer’s tax credit with 1448 houses put in contract before the deadline. Going back to 2009 only 958 houses under contract and 2008 rate in April was 892 houses. The new normal is a higher rate of activity in the market. In the trenches we see multiple offers on every home priced correctly with many going close to or over asking price. My explanation for this activity is that there is no good reason for buyers to wait. Interest rates are at the bottom of the rate cycle and homeprices have stabilized. What’s the prediction for the next critical months of the 2012 high season – more of the same.

Is it the weather or Is the market on Long Island really improving?

admin — Fri, 02 Mar 2012 16:31:24 +0000

Two strong months of selling activity have marked the beginning of 2012 on Long Island. Although inventory is up slightly in Nassau County (7%) over this time last year contracts for the first 2 months have risen 16%. In Suffolk County inventory is down 12% but under contracts up 11% year-to-date over last year. If you remember the horrific weather we had last year (does it really snow on Long Island?) the good weather certainly tells part of the picture. But I feel the market activity – showings and open house attendance continue to build and we need just one month more stats to confirm an improving trend. In the meantime prices remain low and interest rates are very friendly, so let us keep our fingers crossed and hope for a good March market.

Weather helps the real estate market on Long Island

admin — Mon, 06 Feb 2012 19:36:20 +0000

While the stormy conditions of last January might be a faint memory for many, realtors on Long Island know how tough a month it was. Thanks to spring-like weather this year both sales and listings are up this January. While we added 129 more houses to the inventory in Nassau County than we had last January – we sold (put under contract) 579 homes vs last year’s 529 homes. Suffolk County’s market shows the same incremental gain in sales but 215 less houses on the market than the same time last year. Hopefully the watchword for real estate on Long Island will be stability. With enough buyers and not too many sellers to make the process of getting a fair market price easier.

Homes For Sale In Woodbury, New York – 2011 Year End Market Statistics

admin — Thu, 26 Jan 2012 08:00:16 +0000

Homes For Sale In Woodbury, New York – 2006 – 2011 From January To December Market Statistics

The Average Days On Market of the Homes For Sale In Woodbury – 2006 – 2011 From January To December has been increasing for several years.

The Average Days On Market of Homes For Sale In Woodbury – 2006 – 2011 From January To December have increased by 49 market days.

This represents a 65.3% increase in the Average Days On Market of Homes For Sale In Woodbury – 2006 – 2011 From January To December.

The number of Closed Sales of Homes For Sale In Woodbury – 2006 – 2011 From January To December has been relatively steady over the past several years.

The decrease in the number of Closed Sales of Homes For Sale In Woodbury – 2006 – 2011 From January To December is 28 closed sales.

This represents a 44.5% drop in the number of Closed Sales of Homes For Sale In Woodbury – 2006 – 2011 From January To December.

The Average Sales Price of Homes For Sale In Woodbury – 2006 – 2011 From January To December has been declining for many years with an increase last year.

The decline in the Average Sales Price of Homes For Sale In Woodbury – 2006 – 2011 From January To December is $129,128.00.

This represents a 11.2% decline in the Average Sales Price of Homes For Sale In Woodbury – 2006 – 2011 From January To December.

Homes For Sale In Wantagh, New York – 2011 Year End Market Statistics

admin — Wed, 25 Jan 2012 08:00:46 +0000

Homes For Sale In Wantagh, New York – 2006 – 2011 From January To December Market Statistics

View Wantagh Neighborhoods in a larger map

The Average Days On Market of the Homes For Sale In Wantagh – 2006 – 2011 From January To December has been increasing for several years with a dip last year.

The Average Days On Market of Homes For Sale In Wantagh – 2006 – 2011 From January To December have increased by 25 market days.

This represents a 36% increase in the Average Days On Market of Homes For Sale In Wantagh – 2006 – 2011 From January To December.

View Wantagh Neighborhoods in a larger map

The number of Closed Sales of Homes For Sale In Wantagh – 2006 – 2011 From January To December has been steadily decreasing over the past several years.

The decrease in the number of Closed Sales of Homes For Sale In Wantagh – 2006 – 2011 From January To December is 59 closed sales.

This represents a 21.1% drop in the number of Closed Sales of Homes For Sale In Wantagh – 2006 – 2011 From January To December.

View Wantagh Neighborhoods in a larger map

The Average Sales Price of Homes For Sale In Wantagh – 2006 – 2011 From January To December has been declining for many years.

The decline in the Average Sales Price of Homes For Sale In Wantagh – 2006 – 2011 From January To December is $110,271.00.

This represents a 21.4% decline in the Average Sales Price of Homes For Sale In Wantagh – 2006 – 2011 From January To December.

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Homes For Sale In Seaford, New York – 2011 Year End Market Statistics

admin — Tue, 24 Jan 2012 08:00:10 +0000

Homes For Sale In Seaford, New York – 2006 – 2011 From January To December Seaford Market Statistics

The Average Days On Market of the Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford has been increasing for several years.

The Average Days On Market of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford have increased by 30 market days.

This represents a 44% increase in the Average Days On Market of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford.

The number of Closed Sales of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford has been steadily decreasing over the past several years.

The decrease in the number of Closed Sales of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford is 55 closed sales.

This represents a 31% drop in the number of Closed Sales of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford.

The Average Sales Price of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford has been declining for many years.

The decline in the Average Sales Price of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford is $95,824.00.

This represents a 19.6% decline in the Average Sales Price of Homes For Sale In Seaford – 2006 – 2011 From January To December Seaford.

Homes For Sale In Plainview, New York – 2011 Year End Market Statistics

admin — Mon, 23 Jan 2012 08:00:40 +0000

Homes For Sale In Plainview, New York – 2006 – 2011 From January To December Market Statistics

The Average Days On Market of the Homes For Sale In Plainview – 2006 – 2011 From January To December has been increasing for several years.

The Average Days On Market of Homes For Sale In Plainview – 2006 – 2011 From January To December have increased by 26 market days.

This represents a 33% increase in the Average Days On Market of Homes For Sale In Plainview – 2006 – 2011 From January To December.

The number of Closed Sales of Homes For Sale In Plainview – 2006 – 2011 From January To December has been steadily decreasing over the past several years with a slight increase this year.

The decrease in the number of Closed Sales of Homes For Sale In Plainview – 2006 – 2011 From January To December is 57 closed sales.

This represents a 22.9% drop in the number of Closed Sales of Homes For Sale In Plainview – 2006 – 2011 From January To December.

The Average Sales Price of Homes For Sale In Plainview – 2006 – 2011 From January To December has been relatively steady for the past 3 years.

The decline in the Average Sales Price of Homes For Sale In Plainview – 2006 – 2011 From January To December is $86,404.00.

This represents a 14.8% decline in the Average Sales Price of Homes For Sale In Plainview – 2006 – 2011 From January To December.

Homes For Sale In Merrick, New York – 2011 Year End Market Statistics

admin — Sun, 22 Jan 2012 08:00:50 +0000

Homes For Sale In Merrick, New York – 2006 – 2011 From January To December Market Statistics

The Average Days On Market of the Homes For Sale In Merrick – 2006 – 2011 From January To December has been over 100 days for several years.

The Average Days On Market of Homes For Sale In Merrick – 2006 – 2011 From January To December have increased by 28 market days.

This represents a 32.9 % increase in the Average Days On Market of Homes For Sale In Merrick – 2006 – 2011 From January To December.

The number of Closed Sales of Homes For Sale In Merrick – 2006 – 2011 From January To December has been steadily decreasing over the past several years.

The decrease in the number of Closed Sales of Homes For Sale In Merrick – 2006 – 2011 From January To December is 94 closed sales.

This represents a 28.8% drop in the number of Closed Sales of Homes For Sale In Merrick – 2006 – 2011 From January To December.

The Average Sales Price of Homes For Sale In Merrick – 2006 – 2011 From January To December has been declining for many years with an increase this year.

The decline in the Average Sales Price of Homes For Sale In Merrick – 2006 – 2011 From January To December is $61,054.00.

This represents a 10.8% decline in the Average Sales Price of Homes For Sale In Merrick – 2006 – 2011 From January To December.

Homes For Sale In Massapequa, New York – 2011 Year EndMarket Statistics

admin — Sat, 21 Jan 2012 08:00:21 +0000

Homes For Sale In Massapequa, New York – 2006 – 2011 From January To December Market Statistics

The Average Days On Market of the Homes For Sale In Massapequa – 2006 – 2011 From January To December has been increasing for several years.

The Average Days On Market of Homes For Sale In Massapequa – 2006 – 2011 From January To December have increased by 26 market days.

This represents a 31% increase in the Average Days On Market of Homes For Sale In Massapequa – 2006 – 2011 From January To December.

The number of Closed Sales of Homes For Sale In Massapequa – 2006 – 2011 From January To December has been steadily decreasing over the past several years.

The decrease in the number of Closed Sales of Homes For Sale In Massapequa – 2006 – 2011 From January To December is 156 closed sales.

This represents a 25% drop in the number of Closed Sales of Homes For Sale In Massapequa – 2006 – 2011 From January To December.

The Average Sales Price of Homes For Sale In Massapequa – 2006 – 2011 From January To December has been declining for many years.

The decline in the Average Sales Price of Homes For Sale In Massapequa – 2006 – 2011 From January To December is $97,903.00.

This represents a 18.2% decline in the Average Sales Price of Homes For Sale In Massapequa – 2006 – 2011 From January To December.

Relatively Stable Market on Long Island in 2011

admin — Fri, 20 Jan 2012 20:27:19 +0000

With the final numbers in for 2011 we can characterize the real estate market in Long Island as stabilizing. Nassau County finished the year with an up month in December (over 2010 figures) and the 4th quarter ended with just 33 less houses under contract than last year’s 4th quarter. Year to date Nassau County ended 4% under last year’s total under contracts. Suffolk County did less well with a 7% drop year over year.

Prices were not stabilized yet with median home prices in Nassau declining 2.5% from $395,000 to $385,000. Suffolk County was down 6.5% with median prices declining from $325,000 to $305,000.

We need more activity and less price pressure from short sales and REO’s to see any significant movement in prices and that is not in the cards for this year. Sales activity in 2012 should improve over the last 2 years low levels – undoubtedly a higher percentage of sales this year will unfortunately be short sales.

If you waited for the past 2 years to sell you home -hoping for improvement – you lost 10 -15% waiting. You probably won’t lose more than a few percentage points waiting this year but if you have some place to go – not reason to wait to go there. The prices there will probably be just as depressed as here.

If you waited during the past 2 years to buy – you saved 10-15% but paid rent and didn’t get any tax advantages. If you can get a mortgage and your job situation is stable or improving this might be the best year to buy. Both interest rates and prices have brought the affordability index to a low you probably won’t see in your lifetime.

Tune in next month for the first look at 2012 statistics.