Fall Roundup on North Fork Real Estate

The year started out like the recession had  dissipated a little and that  things were ready to turn, but that Spring promise has not materialized in the Fall selling season. although sales are slightly  ahead of 2009 there is an eerie silence right now… not to much activity . Could it be  that the  people are waiting for the  congress to decide whether to extend the  federal tax cuts and if so at what level..  the current  media speculation is…that  we now see in the regional newspapers.. trying to get the  congressional folks to take a stand. the bright spots are that homes priced correctly , that is within ten percent of  the ultimate selling price will sell in  140 days or less, home priced above that will languish on the market with little activity… if you have a home in that category you have probably seen  little activity and no offers… of if you  did have an offer is was early on the process… that may have been your best offer and you did not know it.

All in all, the best sellers so far  this year have been homes  at $500,000 or less within walking disitance of the beach.

2011 North Fork real Estate Market(Aquebogue to Orient Point)

Well,  it's almost June,  and we can see now pretty much what has happend here on the  North Fork so far this year to date(5/25). One hundred and thirty properties have gone into contract at the average price of $659,368.00 and  avrg. DOM 216  vs. 2010 year to year  one hundred and fifty two with an average price of $639, 192, and avg. DOM 192. As you can see we are about twenty two units behind  2011, but the the average price is up a smidge, $20,000.  Last year,  there was a federal tax credit available for first time home buyers which couid account for the  slight differential between  last year and this year  to date.
The properties most in demand are properties under $500,000 with  proximity to a beach. The statistics still reflect properties that are priced correctly are  averaging  one hundred and forty days or less  on  the market and are selling within ten percent of the  last asking price.

 If you woud like to see a lot of open houses make it your business to be out  on the North Fork for June  4-5th.  It is  National Open House Week End and I expect that almost every local company will be opening up their  houses as we will. Tune into our web site(http://www.lewisandnickles.com/ ) to see the time and place for Lewis & Nickles Open Houses for June 4- June 5 addresses and times will be posted there starting Monday May 30th.