The following report is based on the 3 month period ending Nov. 30, 2019
The graph above tells the story. Any time you see inventory going down, and buyer interest going up, it's a good time to sell.
If you follow real estate this is the time of year we see a lot of "the holidays are a great time of year to sell your home" postcards and internet articles from your favorite realtors. Usually it's in list form - "ten great reasons to list your home during the holidays"- that sort of thing. I honestly don't know if there are ten great reasons, but there are definitely two or three. The two that are top of mind with me are inventory and condition of market.
Inventory- The facts don't lie. Fewer folks list their homes during the latter part of the year. I like my seller's odds better when there's less competition, it's that simple. True, there will be fewer buyer's this time of year but the ones still looking are surely motivated. Come the new year there will certainly be more homes coming to market. More competition for my sellers equals less margin for error on the asking price.
Condition of market- This one matters because if there are no buyers out there and nothing is selling, what's the point? Unless it's important to sell quickly in which case price will dictate the sale anyway, you may indeed want to wait until after the new year to list.
So, Is this holiday season a good time to list and sell your Eastport, NY home? The answer is yes. Take a look at the numbers below and see that Eastport inventory is down and sales and contracts are up. Timing is important and Eastport is on a real estate roll right now.
3 Month Market Statistics for Eastport, NY ending November 30, 2019
New Listings- There were 2 new listings taken
Current Inventory- There are 6 single family homes on market (Eastport Homes For Sale)
In Contract- There are 6 single family homes in contract
Closed Sales- There were 8 single family homes sold
Absorption time*- 2 months
Median Ask Price $552,000.00
Median Sold Price- $510,000.00
*Absorption time indicates how many months it would take the current inventory to be exhausted (absorbed) if no new listings were added.
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Call 631-241-8168 or email me at Bill.Carroll@Corcoran.com with questions or to arrange a confidential comparative home value analysis