This is an early glimpse of what can be expected in first quarter results, obtained from the MLSLI, on closing activity for properties on the North Fork of Long Island:
2009 vs. 2008
Total homes closed, Jan.01, 2009 through March 17, 2009: 44
Total homes closed, Jan,01, 2008 through March 17, 2008: 60
Median closed price, Jan. 01 2009 through March 17, 2009: $385k
Median closed price, Jan. 01,2008 through March 17, 2008: $435k
Median days on market, 2009:173.5
Median days on market, 2008:120
Median % difference from asking price to closed pricing, 2009: -8.15%
Median % difference from asking price to closed pricing, 2008: -8.05%
Towns included in the search for sold homes: Aquebogue, Baiting Hollow, Calverton,Cutchogue,East Marion,Greenport, Jamesport, Laurel, Mattituck, Orient, Peconic,Riverhead, Southold. Search does not include private sales. All info offered, while deemed reliable, has no guarantee.
Of the figures offered for 2009, three properties closed that were either bank owned (REO), or short sale transactions.
Awareness of market conditions and changes is more important now than ever- check back to receive additional North Fork/East End of Long Island updates. While much is available in the way of market information, tracking closings as they decline will afford the opportunity to await the inevitable “bottom”- think cyclical.
To search available condos or 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.
To get more specific local North Fork or East End real estate information, fill out the form below with your questions/comments. We know how to find properties coming on the market, and available. If you’re looking for a foreclosure on any part of Long Island, we’ll help you find it.