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 list price. The lower end inventory has disappeared in the 1st quarter. The second quarter inventory should bring the median home price to more historical average. Home prices are rising a little more slowly than the Nassau County average with Syosset rising 7.6% in the past year and Nassau County rising 8.5%. Still a great time to sell and a rough time to buy.
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