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Uneven Beginning for the Spring Market in Nassau County

By
Real Estate Agent with Century 21 American Homes

As the weather gets more spring-like the real estate market is starting to thaw. While inventory levels were 10% below last year on March 1st they were only 2% below last year's level.  Under contracts have not followed yet. This time last year there were 7 months worth of inventory while the figure as of April 1st was 10 months. Individual towns in Nassau County are a mixed story.  Syosset bounced back from only 6 houses sold in February to 17 houses in March. Inventory levels are already at the 5 month mark similar to last year. Hicksville continues to be a hot market with 25 homes sold in March and only 4 month's worth of inventory.  Levittown is in full swing with only 3 month's worth of inventory. On the cooler side of the market both Massapequa and Elmont have 8 month's worth of inventory. The homeowners there are waiting for the buyers to come out of hibernation. The word of the street from agents says that this year's market will be an improvement over last year and buyer activity is strong at open houses. As we move through April and the weather heats up we expect the real estate market in Nassau County to do the same.