syosset real estate market: Signs of a Changing Market in Nassau County and Syosset
- 10/17/18 12:04 PM
September statistics show signs of a changing market. As inventory rises (5597 homes on the market Oct vs 4976 last year Oct 1) along with absorption rates (now standing at 5 months’ worth of inventory), Nassau county did not hit the 1000 mark in houses sold. We haven’t had a September that didn’t have 1000 sales since 2014. In the past 30 days (as of Oct 17th) 241 homes expired and 406 homes were withdrawn from the market- that’s 10% of the Inventory. The picture in Syosset real estate is even more changed from last year when 76 homes were on … (2 comments)
syosset real estate market: Word has gotten out
- 07/09/18 02:04 PM
The word has gotten out. It’s a great time to sell your house. Many more homeowners have put their homes on the market in the first six months of 2018 compared to 2017. In Syosset 265 homes were listed in the first half of this year versus 188 homes last year same time. That’s a whopping 40% rise. The story in the county is similar but not as dramatic. Listings in Nassau County rose 28% over last year’s first half. In Nassau County under contracts and closings slightly lag last year’s pace while Syosset’s closings were up 8%. Prices rose moderately. … (1 comments)
syosset real estate market: Syosset NY 1st Quarter 2018 Market Report
- 04/02/18 02:25 PM
With the first quarter of 2018 in the books here is the relevant market data for Syosset NY Currently on the Market – 92 homes 2 condos Median Asking Price $904,000 56 homes and 2 condos are under contract 110 homes and 4 condos were put on the market since Jan 1 2018 44 homes and 4 condos closed since Jan 1 2018 Median list price at closing $699,000 Median closing price $691,500 Median Days on the Market 58 Current Absorption Rate 4.1 months’ worth of inventory.
It continues to be a strong sellers’ market with the average home selling within 1% of the … (1 comments)
syosset real estate market: Have We Hit the Top of the Market in Nassau County Real Estate?
- 01/16/18 08:16 AM
While the number of listings taken in Nassau County jumped 37% in 2017 over the number of listing taken in 2016, the number of contracts went up a meager 1.5%. The number of listings still on the market on Jan 1 2018 is at least a 10 year low of 3733. Where did all the listings go? Expired listings jumped from 233 in 2016 to 1195 in 2017, while listings withdrawn from the market exploded from 820 to 3081. We ended 2017 with an absorption rate of 4.4 months of inventory very similar to the 4.5 months a year ago. Its … (1 comments)
syosset real estate market: 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 real estate market: Century 21 American Homes Market Report for Syosset 1st half 2017
- 07/06/17 11:44 AM
Halfway through the year here is the relevant market data for Syosset NY Currently on the Market – 85 homes 9 condos Median Asking Price $799,000 84 homes and 6 condos are under contract 205 homes and 16 condos were put on the market since Jan 2017 median asking price $739,000 106 homes and 2 condos closed since Jan 1 2017 Average list price at closing $780,773 Average closing price $756,897 Average Days on the Market 95 Current Absorption Rate 3 months’ worth of inventory.
It continues to be a strong sellers market with the average home selling within 3% of the list price. Inventory normally peaks this … (0 comments)
syosset real estate market: A Tough Market for Buyers
- 05/06/17 06:25 AM
At the beginning of the traditionally strong home buying season there is no good news for buyers. With the economy continuing to improve, unemployment low and interest rates surprisingly low the demand for houses is crushing the supply. All markets in Long Island reflect this reality. Nassau County had just over 5000 homes available for sale on May 1. Last year over 6000 were available and 2 years ago close to 7000. The absorption rate is a low 4.4 months’ worth of inventory. Suffolk County real estate market is improving at a faster rate. Just over 7300 homes were available on … (7 comments)
syosset real estate market: First Quarter Market Report Syosset NY
- 04/10/17 07:37 AM
There is a severe drought of real estate inventory on Long Island. There are 18% less homes available in Nassau County for sale at the end of the first quarter of 2016 than the same time last year. Similarly, Suffolk County shows a 20% decline. Our home town of Syosset follows the trend with 18% less inventory. Is the drought due to a slowdown in listings put on the market? Not on Long Island! Suffolk County leads with 19% more homes listed in the first quarter of 2017, Nassau follows with 10% and Syosset lags behind with only a 3% increase … (0 comments)
syosset real estate market: 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 real estate market: When will inventory peak?
- 07/07/16 10:32 PM
Inventory is tight all over Nassau County NY. The absorption rate as of July 1st was 4.4 months’ worth of inventory. Last year’s number was 5.1. In Syosset the absorption rate on July 1st was 3.6 months. Last year it was 5 months. Last year the inventory peaked on September 1st at 144 units. As of July 1st we were at 131. The big question for buyers and sellers in Nassau County and in Syosset is how much inventory is left to come and will sales continue at high levels with less inventory to choose from. My best bet is that … (1 comments)
syosset real estate market: Is this really a stable real estate market on Long Island?
- 11/10/14 05:02 AM
We know that markets go up and down and real estate is no exception. What has been normal in the past 10 years is violent ups and then downs. The long Island real estate market has not been stable for a decade. Recent statistics show there has been change. The first indicator is the absorption rate. The number of months it would take to absorb the current inventory at the current pace of sales. In Nassau County the absorption rate last Nov 1st was 7 months – a year later also 7 months. What’s different this year are the inventory levels. … (0 comments)
syosset real estate market: A Cool Summer for Long Island Real Estate
- 08/04/14 07:00 AM
Just as the temperature has been moderate this summer on Long Island, so too the real estate market is a bit cool. Although inventory has increased over last year’s levels, sales have not kept up. The absorption rate has risen slightly in the whole market but some local markets have been more affected. In Nassau County the inventory rose from 7356 homes on the market to 7618, an increase of 3 ½ %. Sales though slightly higher have not kept pace so that the absorption rate at which the inventory is sold rose from 6.6 months’ worth of inventory to 6.8 … (0 comments)
September statistics show signs of a changing market. As inventory rises (5597 homes on the market Oct vs 4976 last year Oct 1) along with absorption rates (now standing at 5 months’ worth of inventory), Nassau county did not hit the 1000 mark in houses sold. We haven’t had a September that didn’t have 1000 sales since 2014. In the past 30 days (as of Oct 17th) 241 homes expired and 406 homes were withdrawn from the market- that’s 10% of the Inventory. The picture in Syosset real estate is even more changed from last year when 76 homes were on … (2 comments)
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