Western Nassau County Real Estate Update February Mid Month 2017

Peter Owen

Licensed Real Estate Salesperson

Better Homes & Gardens Atlantic Shores.

55 Hilton Ave, Garden City, NY 11530.

(516) 317-.2860

Email:Peter.Owen@BHGliving.com. Website:https://www.BHGREhomes.com/agent/peter.owen@bhgrealestate.com

Garden City, Malverne, Garden City South, New Hyde Park, Floral Park, Franklin Square, Lynbrook, Stewart Manor, West Hempstead, East Meadow, Rockville Centre, East Rockaway, Manhasset Hills, Roslyn Heights, All of Nassau County

Mid Month February, 2017

Hi Everyone,
I received some questions from readers on the data in my last newsletter. Primarily, readers want to know if my comments about decline in housing inventory applies to only certain villages or is it more widespread. Answer: there is a Widespread decline in houses on the market on all of Long Island, and NY State.

For All of Nassau County January 2017 vs. January 2016 (source is Multiple Listing Service of Long Island)

“New Listings were down 14.4 percent to 2,562. Pending Sales decreased 4.2 percent to 2,647. Inventory shrank 12.2 percent to 18,903 units. Prices moved higher as the Median Sales Price was up 6.9 percent to $409,000. Average Sales Price increased 6.4 percent to $497,096. Months Supply of Inventory was down 18.3 percent to 5.8 months, indicating that demand increased relative to supply.”

I cannot really comment on what is causing this phenomenon. I have some theories but no data to back them up. But the point remains, this is a Sellers Market and looks to continue for a while. As I keep saying, Buyers need to be well informed, know the value (vs. price) of homes on the market, have a solid mortgage pre-approval in place, and be ready to look, Offer, then get to contract quickly.

Personal Note
I make a constant effort to improve the level of service I provide to you because, in my business, the most profound assets I possess are your respect and trust. Please feel free to call me if you need anything at all; I am always here to help.
Oh, by the way…if you know of someone who would appreciate the kind of service I provide to my clients, please call me with their name and business number. I’ll be happy to follow up and take great care of them.

Not a bad winter so far, Spring will eventually come.
Peter Owen

Articles

1)10 Things to Toss from Your Garage http://www.realtor.com/advice/home-improvement/10-things-to-toss-from-your-garage/?iid=rdc_news_hp_carousel_theLatest

2)How to Insulate an Attic and Slash Your Heating Bill to Boot http://www.realtor.com/advice/home-improvement/how-to-insulate-an-attic/

3) Put Your Best Features Forward: Simple Staging Solutions (An Oldie but still good)

http://realtormag.realtor.org/home-and-design/feature/article/2012/01/put-your-best-features-forward-simple-staging-solutions

Local Stats:

Garden City

Malverne

East Meadow

East Rockaway

Franklin Square

Stewart Manor

Mineola

Floral Park

Garden City Park

Garden City South

Manhasset Hills

If you would like a free Personal Comparative Market Report for your home ie what range would your home be priced at currently, please just email me – no obligation, no pressure, no hassle – HONESTLY!
Peter Owen.

Licensed Real Estate Salesperson.

Better Homes and Gardens Real Estate Atlantic Shores.

55 Hilton Avenue, Suite 100.

Garden City, NY 11530.

Office: (516)444-3939.

Cell: (516)317-2860.

Fax: (516)444-3940.

Email: peter.owen@bhgliving.com.

Website: http://www.nassaucountynyhomes.com/
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