A Look at Sold Homes in Southold

February 18th, 2008 category: Real Estate News, Southold Real Estate

What does a home, available for sale from $345k to $499k look like in Southold, New York?

What does a SOLD home, priced from $352k to $499k look like?

Information gathered from MLSli (Multiple Listing Service of Long Island) provides information, which is entered into the system by third parties (real estate agents).*

A HOUSE ON THE MARKET PRICED BETWEEN 345K AND 499K IN SOUTHOLD, NEW YORK AS OF FEBRUARY 17, 2008 HAS THE FOLLOWING CHARACTERISTICS (16 available properties in this price range):*
Square footage: 1377* Basement: .76 or, three quarter basement. (Slab=0; crawl=.25;part=.50; full =1 point. Total divided by homes on the market). Style: Ranch: 11; 2 story (to include cape, colonial, etc): 6.
Bedrooms: 3
Garage: 1.75
Bath: 1.87

A SOLD HOUSE IN SOUTHOLD, NEW YORK, BETWEEN THE DATES OF 06/01/2007 THROUGH -2/17/2008 priced from 345K-499K HAS THE FOLLOWING CHARACTERISTICS:
Square footage: 1423*
Basement: .82
Style: ranch: 14 (to include “raised”, “expanded”, and “Hi” ranches); 2 story (see above): 5
Garage: 1.36
Bedrooms: 3
Bath: 1.76

These figures are rudimentary. Not taken into account is location (priceless?) age, or condition. Interestingly, there are available what appear to be very nice buys- one comes to mind that’s a fixer upper with water view.

There are many elements lacking, when taking 16 (on the market) houses, vs. 19 sold houses and developing a model of a good opportunity. It is, however, a “feasibility” study of sorts, providing facts to offset decisions. The right combination of expectation and offer for sale is important right now. While the buyer pool has slowed, it hasn’t stopped. People want to buy a home that is MARKET VALUE if in great shape, and UNDER MARKET if it needs work. Both terms are a moving target at the moment.

*the numbers were skewed by the input provided- for example, one sold property indicated over 14000 s.f.- clearly incorrect. Houses whose #’s were clearly off were eliminated in that category, with the remaining properties divided.

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This entry was posted on Monday, February 18th, 2008 at 7:47 pm and is filed under Real Estate News, Southold Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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