Winter Market Report for Syosset Real Estate

The real estate story in Syosset continues last year’s theme of tight inventory.  We ended the year with 4.4 months’ of inventory and we now stand at 4.5 months.  73 homes are presently on the market and 16 homes were put under contract in the last 30 days.  Prices look like they will be affected by the supply and demand issue.  While homes that closed in the past 6 weeks show no price rise from last year’s closings, the average asking price of homes sold in the past 6 weeks have risen 10%.  The market is favoring the sellers. Buyers need to deal with this reality by being realistic with their expectations and aggressive with their offers.  Anybody looking to sell their home?