Laurelton, New York Real Estate Trends-Fourth Quarter Report December 31, 2011
Laurelton, New York Real Estate
Laurelton, New York 11413
The Laurelton, New York Real Estate Trends-Fourth Quarter Report December 31, 2011 covers Laurelton, New York Real Estate market activity, year to year, for the 4 year period ended December 31, 2011.
The report focuses on the number of Laurelton, New York Real Estate homes sold, the median sales price and median days on market with particular attention to foreclosure and short sale data. For the years indicated the periods covered are as indicated in the following table.
Year |
2008 |
2009 |
2010 |
2011 |
Period Covered |
1/1/2008-12/31/2008 |
1/1/2009-12/31/2009 |
1/1/2010-12/31/2010 |
11/1/2011-12/31/2011 |
The residential community of Laurelton is located in the southeastern part of the Borough of Queens in New York City, NY.
Laurelton, New York Real Estate Number of Homes Sold
The total number of Laurelton, New York Real Estate homes sold for the four year period ended December 31, 2011 decreased from 55 in 2008 to 51 in 2011. The volume of Laurelton , New York Real Estate sales realized its biggest increase from 2008, when it was 55 to 2009 when it was 68. The home sales volume decreased from 2010 to 2011.
A closer look at the type of sales over the four year period reveals an increase in the number of Laurelton, New York Real Estate foreclosures and Laurelton, New York Real Estate short sales. The number of foreclosures increased from 4 in 2008 to 8 in 2011. The number of short sales increased from zero in 2008 to 8 in 2011.
With total Laurelton, New York Real Estate sales of 51 for 2011, the 8 Laurelton, New York Real Estate foreclosure sale represents 15.7 % of total sales and the 8 Laurelton, New York Real Estate short sales represents 15.7 % of total sales.
Laurelton, New York Real Estate Median Sales Price Overview
The median sales price of Laurelton, New York Homes over the 4 year period ended December 31, 2011 declined from $405,000 in 2008 to $330,000 in 2011 for a decrease of 18.5 %. The median sales price has been decreasing year to year from 2008 to 2011.
The growth in volume of Laurelton, New York Real Estate foreclosures, short sales and the economic downturn have been elements in declining median sales prices. The median sales price of Laurelton, New York Real Estate foreclosures decreased from $282,500 in 2008 to $243,500 in 2011. The Laurelton, New York Real Estate short sale median sales price decreased from $405,000 in 2009 to $229,500 in 2011.
Laurelton, New York Real Estate Days on Market Overview
The Laurelton, New York Real Estate days on market increased from 86 days in 2008 to 89 days in 2011.
In My Opinion
The Southeast Queens community of Laurelton experienced its first decline in the number of homes sales in 2011. The 2011 figure of 51 is also the lowest sales volume in the 2008-2011 4 year period. Laurelton has also experienced a decline year to year in median sales price from a high of $405,000 in 2008 to a low of $330,000 in 2011. The median sales price decline represents a 18.5% decline.
With distressed properties (Foreclosures and short sales) making up 31.4% of the homes sold indicates that this market may not have bottomed out. The decrease in the number and percentage of distressed sales as compared to 2009 and 2010 is a positive sign.
laurelton does have some great opportunities for the first time homebuyer and investor. Valuation research is very important to purchasing and selling in this market.
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