Authored by: Options Realty
January 31st, 2009
The following figures were obtained from the MLSLI (multiple listing service of Long Island) and are recorded closings of single family homes on the North Fork of Long Island from January 1, 2009 through January 31, 2009. While deemed reliable, figures may vary.
The figures in BOLD are the closed prices. These figures do not include mobile home closings.
Aquebogue, NY
Closed: 1; $485k/$450k
Baiting Hollow, NY
Closed: 2; $549,990/$549,990; $699k/$670k
Greenport, NY
Closed: 1; $229k/$192k
Riverhead, NY
Closed: 2; $350k/$300k; $398,999k/$345k
Southold, NY
Closed: 3; $400k/$375k; $420k/$395k; $750k/$705k
Total closed in January, 2009: 9
days on market average: 144
*if a town/village is not listed, it did not report a closed property.
Total closed on the North Fork of Long Island through January 31, in 2008: 27
Clearly, there is a major slowdown occurring on the North Fork/East end of Long Island. There was a 75% drop on the number of closed properties recorded from January 2008 to January 2009.
Towns/villages included in the search: Aquebogue, Baiting Hollow, Calverton, Jamesport, S. Jamesport, Mattituck, Cutchogue, Peconic, Southold, Riverhead, E. Marion, Orient, Orient Point, Peconic, New Suffolk, and Laurel, NY.
SOME GOOD NEWS (while not an improvement over 2008, activity is still occurring):
Homes put under contract from January 1, 2009 to January 31 2009 are consistent with 2008 figures in # of transactions:
2009: 20 homes under contract on the North fork;
2008: 23 homes under contract on the North fork
Without closed pricing, we are unable to indicate the % difference in asking/sold prices; each month, we will be providing the closed figures.
To check out available homes for sale on the North Fork / East End Long Island or condos on the North Fork of Long Island, click “north fork homes”, enter your area of interest and any parameters, and click “go”- properties for sale include Riverhead, Aquebogue, Baiting Hollow, Calverton, Jamesport, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, Orient, and Orient Point, NY.
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