Luxury Homes on Long Island Market Report 4th Quarter of 2009 & 2008 For Suffolk County
Luxury Homes That Closed in October, November & December of 2009
59 Luxury Homes Sold In 2009
Average Listing Price: $2,037,703
Average Sold Price: $1,816,735
Average Property Taxes: $17,865
Average Days on the Market: 160
Luxury Homes That Closed in October, November & December of 2008
47 Luxury Homes Sold In 2008
Average Listing Price: $1,832,440
Average Sold Price: $1,646,149
Average Property Taxes: $17,360
Average Days on the Market: 164
The most popular style luxury home is the colonial.
Prices of luxury homes have not come down a lot compared to your average single family, non-luxury homes.
The difference between the listing price and sold price is under $200,000 which is not uncommon. Consumers that are not familiar with luxury homes, cringe when they see these price differences. They are used to seeing 30,000 and under with non-luxury homes. But this is the norm for luxury homes.
The days on the market also says it's holding steady and not staying on the market longer. This is definitely a good sign for luxury homeowners.