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

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.

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

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

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

 

 

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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.

 

 

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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.

 

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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

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

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

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

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.

Activ 8

Relatively Stable Market on Long Island in 2011

 

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.

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

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

 

The Average Days On Market of the Homes For Sale In Levittown – 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 Levittown – 2006 – 2011 From January To December have increased by 16 market days.

This represents a 21.3% increase in the Average Days On Market of Homes For Sale In Levittown – 2006 – 2011 From January To December.

 

The number of Closed Sales of Homes For Sale In Levittown – 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 Levittown – 2006 – 2011 From January To December is 102 closed sales.

This represents a 27.9% drop in the number of Closed Sales of Homes For Sale In Levittown – 2006 – 2011 From January To December.

 

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

The decline in the Average Sales Price of Homes For Sale In Levittown – 2006 – 2011 From January To December is $92,939.00.

This represents a 23% decline in the Average Sales Price of Homes For Sale In Levittown – 2006 – 2011 From January To December.

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

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

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

This represents a 36.8% increase in the Average Days On Market of Homes For Sale In Hicksville – 2006 – 2011 From January To December.

The number of Closed Sales of Homes For Sale In Hicksville – 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 Hicksville – 2006 – 2011 From January To December is 108 closed sales.

This represents a 32.2% drop in the number of Closed Sales of Homes For Sale In Hicksville – 2006 – 2011 From January To December.

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

The decline in the Average Sales Price of Homes For Sale In Hicksville – 2006 – 2011 From January To December is $97,554.00.

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