Deer Park NY Real Estate Market Report - 2nd Quarter 2011
I have to say that the Deer Park NY real estate market is doing well compared to other areas across Suffolk County. The median sold prices have been going up since the 4th quarter of 2010. Maybe 2011 will be the year where we can say the Deer Park NY home values are going up.
No one, not even the analysts, knows where the Long Island real estate market is going. The real estate market is local. That means your own town where you live, not Suffolk or Nassau County as a whole. This is why I create charts for certain towns in the Town of Babylon so you can see the trends and keep an eye on the local real estate market.
Even when you watch the news of what seems to be doom and gloom according to the media, keep in mind that real estate is always.........local.
Take for example, Wyandanch NY. There are 93 homes on the market in Wyandanch NY. 57 of those homes on the market are short sales and there are 2 REO properties (foreclosures). Over 50% of the homes on the market in Wyandanch are short sales. That hurts the homeowners that are trying to sell their homes as regular resales. Why? Those homeowners have to keep reducing the price of their homes in order for them to sell. They are competing with lower priced short sale and REO properties.
All in all, real estate is local. Call me today (631) 703-0201 for a no obligation comparable market analysis to find out what your Deer Park NY home is worth in today's market and to find out what is really going on in your local real estate market!