suffolk county real estate market: A different real estate market in 2012 on Long Island - 05/04/12 07:22 AM
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 … (0 comments)
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suffolk county real estate market: Is it the weather or Is the market on Long Island really improving? - 03/02/12 08:28 AM
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 … (0 comments)
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suffolk county real estate market: Weather helps the real estate market on Long Island - 02/06/12 02:33 PM
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 … (1 comments)
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suffolk county real estate market: Relatively Stable Market on Long Island in 2011 - 01/20/12 03:21 PM
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 … (0 comments)
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suffolk county real estate market: Long Island Real Estate Market October 2011 - Muddling Along - 11/04/11 11:22 AM
Nassau County is on pace to sell 9400 homes this year about 4% less than last year's 9750. A couple of months ago it looked like we might break with last year's sales. Sales would have to be too much improved in the traditionally slow months of November and December for that to be a reality now. But considering and artificial stimulus of the buyer's tax credit last year and the slow growth in employment on Long Island the picture could be much worse and that is cause for some hope. The story in our sister county Suffolk is not as … (0 comments)
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