The following report is based on the 3 month period ending Jan. 31 ,2020
This month's report shows what usually happens in the Eastport Real Estate Market around this time of year. As I have mentioned in the last couple reports we see a winding down of buyer and seller interest. That's not to be confused with market activity. As you will see with the numbers below there were a robust (for Eastport) amount of closings. Broken down month by month we see 2 closings in November and 5 in December. There were 0 closings in January. Keep in mind that closings reflect the end of a process that typically begins 45 to 60 days earlier, so to see no transfers in January emphasizes how interest wanes in November and December.
However, even as I write this report the new season has begun and buyers are already making their plans and appointments to see which home they like the most and we should start to see contracts written in the very near future.
There are 10 single family homes for sale in Eastport, but 5 are priced in excess of nine hundred thousand dollars. So if you have a home that is valued more towards the median list price, there is very little compettion out there right now, and the timing is right for a successful sale.
Is this a good time to sell your Eastport home? It is and here's why - inventory is down, mortgage rates are holding at historic lows, and there continues to be a growing demand for folks that want to live in our Eastport communities.
Market Statistics for Eastport, NY November 1, 2019 through January 31, 2020
New Listings- There were 7 new listings taken
Current Inventory- There are 10 single family homes on market (Eastport Homes For Sale)
In Contract- There are 2 single family homes in contract
Closed Sales- There were 7 single family homes sold
Median Ask Price- $664,000.00
Median Sold Price- $465,000.00
See what your Eastport Home is worth in today's market
Read why Eastport is fast becoming one of the east end of Long Island's most popular places to live
Call 631-241-8168 or email me at Bill.Carroll@Corcoran.com with questions or to arrange a confidential comparative home value analysis
And always remember- "In Real Estate, Representation Is Everything"!