syosset ny real estate: What if everyone tries to leave at the same time?
- 01/24/19 01:03 PM
Somebody yelled fire in the Syosset real estate market last year. We had a record number of listings (417) and an average number of sales (253). That leaves a lot of unhappy sellers in Syosset. Unfortunately, the activity in the past 7 weeks (since Dec 1) compounded the issue. December was the worst month for sales in 2018 – only 10 homes went under contract. Since Jan 1 2019 only 3 homes have been put in contract and 21 more homes were listed. What is a seller to do? First get ready to wait significantly longer for their home to sell. … (4 comments)
syosset ny real estate: Could the Real Estate Market Be Turning?
- 08/07/18 11:23 AM
This past months’ market statistics point to a possible turning point in the market. Both inventory and absorption rate are climbing. July should be a month where both fall. In Nassau County inventory rose to 5732 homes on August 1st against 5589 homes last month and 5281 homes last August 1st. The year to year rise is 8%. In our local market in Syosset the change is more dramatic. 121 homes were on the market on August 1st. Last year that number was only 78 homes. That’s a 55% increase. Absorption rate in Nassau county has climbed to 4.7 months of … (1 comments)
syosset ny real estate: The Absorption Rate Is Putting Buyers Under Further Pressure
- 05/14/18 09:46 AM
Even though the number of listings taken in Nassau County since January 1 2018 has outpaced last year’s rate by 19% the absorption rate continues to shrink to 3.9 months’ worth of inventory on May 1st. Syosset follows the general county pattern with listings up 7% and absorption rate at 3.3 months. The absorption rate on May 1 2017 was 3.5 months. With interest rates slowly creeping up, the aggressiveness of buyers continues to accelerate. Many buyers are presenting their first offer at or over asking price and gird themselves for the ensuing bidding war. The sellers’ upper hand in the market continues … (2 comments)
syosset ny real estate: Fall 2017 Market Report – Are Buyers Tiring of Low Inventory
- 10/17/17 09:29 AM
We are at the beginning of the fall real estate market in Syosset and the question is – Are buyers giving up on this market or is there just nothing for them to buy? The number of homes put under contract has fallen to the lowest level since January. While there is a natural falloff in activity in the fall from the height of market activity in the spring and summer months this year looks different. Inventory levels on Oct 1st have dropped 27% in Syosset from the levels of last year this time. Will the buyers put their purchases on … (0 comments)
syosset ny real estate: Winter Market Report for Syosset Real Estate
- 02/15/17 07:31 AM
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 … (4 comments)
syosset ny real estate: Syosset Real Estate Market Report for 2016
- 01/04/17 02:33 PM
2016 was a good year for real estate sales on Long Island and in Syosset. 395 homes were placed on the market this past year. That was 47% higher than the previous year. 268 homes sold(closed) during the year. That is almost 22% more sales than 2015. The average selling price was up 6% to $737,920. The days on the market dropped from 87 to 82. The percentage of listings sold dropped from 82% to 73%. Even in a great market 27% did not sell. This can be due to poor motivation on the sellers’ part, mispricing the listing for the … (0 comments)
syosset ny real estate: How Hot is the Syosset Real Estate Market?
- 04/07/16 02:09 AM
The first quarter presented a very favorable picture for this coming selling season in Syosset. Under contracts are up 29% over last year while inventory levels are slightly above last April 1st. The homes that were listed since January and went under contract already are spending only 24 days on the market. 43 % of the homes that were listed in January have already sold and 50% of those listed in February. As of April 1st the absorption rate in Syosset is a hot 3.9 months of inventory as opposed to last year’s rate of 4.6 month of inventory. Nassau County … (0 comments)
syosset ny real estate: When Is the Best Time to List Your Home in Syosset?
- 02/15/16 03:35 AM
Does the early bird catch the worm or is it better to list in January rather than June? A study of last year’s monthly listing and selling figures shows the first quarter of the year is the best time to list your home in today’s market in Syosset. The highest percentage of homes sold was listed last February (71%) while the lowest percentage was in November (29%). Looking at the quarterly sales figures, the first quarter showed 66% of homes listed were sold and it goes downhill from there. The second quarter comes in at 54% of homes sold, followed by … (0 comments)
syosset ny real estate: Syosset Real Estate Market Still Lags Nassau County Trends
- 10/20/15 04:09 AM
The third quarter of 2015 was not kind to the real estate market in Syosset. Inventory climbed while sales declined and the absorption rate jumped. While sales in Nassau County have risen and inventory levels dropped that's not the story for our local market. At the end of September there were 139 homes on the market in Syosset. That's the largest inventory at this time of the year since the bad days of 2011. Sales have not kept pace. 73 homes sold in the third quarter of 2014. Only 56 sold in 2015. If the backlog of inventory is to be … (0 comments)
syosset ny real estate: When will Syosset Inventory Peak in 2015?
- 05/15/15 04:29 AM
The number of listings taken in Syosset New York is 25% higher than last year at this time. With 179 new listings this year versus 133 last year. The total number of houses now on the market is 126. Last year the market peaked at 134 listings in July. Will the flow of inventory continue or will we peak early this year? It feels like we only started the selling season and hopefully the flow will continue. If the market can absorb the inventory that would be very good news for Syosset homeowners. … (1 comments)
syosset ny real estate: An Early Start to the Spring Selling Season in Syosset Real Estate
- 04/06/15 03:22 AM
Mother Nature gave us one of the cruelest March in recent history but she couldn't stop the spring real estate market from starting up with a surprisingly strong month. While the absorption rate in December and January was in the double digits, February sales had showed some improvement. March came in like a lamb and finished like a lion. On April 1st there were 110 homes to pick from. That was the best selection available to buyers since last September and the buyers responded. 24 homes were sold in March and that set the absorption rate at a lean 5 … (0 comments)
Call listing agent Lynn 516-458-8126 for further info or an appointment
Opportunity knocks on this best priced split in Syosset. Features include: 6 year old architectural roof, 150 amp electric service, brand new master bathroom, large yard with Pvc fence. Needs some updating.
For more pictures visit http://www.century21prevete.com/properties/2605190
Somebody yelled fire in the Syosset real estate market last year. We had a record number of listings (417) and an average number of sales (253). That leaves a lot of unhappy sellers in Syosset. Unfortunately, the activity in the past 7 weeks (since Dec 1) compounded the issue. December was the worst month for sales in 2018 – only 10 homes went under contract. Since Jan 1 2019 only 3 homes have been put in contract and 21 more homes were listed. What is a seller to do? First get ready to wait significantly longer for their home to sell. … (4 comments)
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