Home Prices in Suffolk County, NY

How have home prices been impacted in Suffolk County, NY? This information is courtesy of the New York State Association of Realtors.

SUFFOLK County, NY

Median Home Prices

2009        2010     2011                         Percentage change

                                                                                                   09 -10    10 – 11       09 - 11 

$330,000        $325,000        $315,000                                       -1.5          -3.1             -4.5

 

We currently have 2,357 homes listed in the mls in a short sale status across Suffolk county and a large amount of shadow inventory still coming. However in NY state as a whole it takes 901 days on average for a foreclosure to take place so there is still some time before we are flooded with the distressed properties.

The good news is this....if you are a selling and price your home just below market it will sell and sell quickly. Buyers are out there and homes are selling but they must be priced to move! If you are a buyer...your good news is this....you have a great amount of inventory to choose from and interests rates are still historically low.

Call EXIT Realty Achieve at 631-543-2009. We are here to help!!

 

 

Luke Brookhart on July 2, 2011 at 12:18am
Very helpful information, Susan. Thanks so much for sharing! Love the new blog.
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