What if everyone tries to leave at the same time?

Real Estate Agent with Century 21 American Homes

Somebody yelled fire in the Syosset real estate market last year. We had a record number of listings (417) and an average number of sales (253). That leaves a lot of unhappy sellers in Syosset. Unfortunately, the activity in the past 7 weeks (since Dec 1) compounded the issue. December was the worst month for sales in 2018 – only 10 homes went under contract. Since Jan 1 2019 only 3 homes have been put in contract and 21 more homes were listed. What is a seller to do? First get ready to wait significantly longer for their home to sell. Secondly be very aggressive with the pricing. This is not the kind of market to try out a price. If you want to sell you will be selling at the market. Get as close to or just below the current market asking prices to give yourself the best chance of being one of the lucky sellers who successfully sell their homes this year.

Comments (4)

Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hmmm...in my secondary home region, dips in a market last for a substantial time.   What happens in your area is often mirrored here within 6 months.

Jan 24, 2019 01:17 PM
John Ammirati

As we go into the spring market we'll have a better idea - stay tuned

Jan 24, 2019 01:28 PM
Ted Glover
Alderman Classic Realty, LLC - Moultrie, GA
ABR in Moultrie, Georgia 229-854-5422

Hi John, as in our market in south Georgia the market falls off slightly from Thanksgiving until the new year. Every year during this time. There are new listings and homes being sold during this time but for occupied homes it does get slower. People just don't want to move during this time of year. January is here so the market should be starting to move again. Lets go 2019. Ted

Jan 24, 2019 01:37 PM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good afternoon 

Thank you for sharing your information with us John Ammirati 

Have a great day.

January 24, 2019.

Jan 24, 2019 01:49 PM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

We have very ew ones listed that have been on armed for over 60 days

Jan 24, 2019 03:15 PM