Freeport, New York Real Estate Trends First Quarter Report March 31, 2011
Freeport, New York Real Estate
Freeport, New York 11520
The Freeport, New York Real Estate Trends-First Quarter Report March 31, 2011 covers Freeport, New York Real Estate market activity, year to year, for the 4 year period ended March 31, 2011.
The report focuses on the number of Freeport, 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 |
4/1/2007-3/31/2008 |
4/1/2008-3/31/2009 |
4/1/2009-3/31/2010 |
4/1/2010-3/31/2011 |
The Incorporated Village of Freeport is located in The Town of Hempstead on the south shore of Nassau County, Long Island. Settled in the 1640s as an oystering community, Freeport maintains a commercial waterfront. Freeport also has its own municipal electric utility, police, fire, and water departments.
Freeport, New York Real Estate Number of Homes Sold
The total number of Freeport, New York Real Estate homes sold for the four year period ended March 31, 2011 increased from 178 in 2008 to 200 in 2011. The volume of Freeport , New York Real Estate sales realized its biggest increase from 2008, when it was 178, to 2009, when it was 210. The home sales volume has been decreasing year to year from 2009 at 212 to 2011 at 200 sales.
A closer look at the type of sales over the four year period reveals an increase in the number of Freeport, New York Real Estate foreclosures and Freeport, New York Real Estate short sales. The number of foreclosures increased from 13 in 2008 to 49 in 2011. The number of short sales increased from zero in 2008 to 24 in 2011.
With total Freeport, New York Real Estate sales of 200 for 2011, the 49 Freeport, New York Real Estate foreclosure sale represents 24.5 % of total sales and the 24 Freeport, New York Real Estate short sales represents 12% of total sales.
Freeport, New York Real Estate Median Sales Price Overview
The median sales price of Freeport, New York Homes over the 4 year period ended March 31, 2011 declined from $385,000 in 2008 to $275,000 in 2010 with a levelling to 2011. This represented an overall decrease of 28.6%.
The growth in volume of Freeport, New York Real Estate foreclosures, short sales and the economic downturn have been elements in declining median sales prices. The median sales price of Freeport, New York Real Estate foreclosures decreased from $309,000 in 2008 to $180,000 in 2011. The first Freeport, New York Real Estate short sale sold data was available in 2009. The Freeport, New York Real Estate short sale median sales price decreased from $280,000 in 2008 to $237,500 in 2011.
Freeport, New York Real Estate Days on Market Overview
The Freeport, New York Real Estate days on market decreased from 107 days in 2008 to 88 days in 2011.
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