Homes Sold on the North Fork East End of Long Island February

March 3rd, 2009 category: Real Estate News

The following figures, obtained from MLSLI, are reported contracts on the North fork of Long Island for the month of February. The results? A 50% drop in activity from February 2008…

TOTAL HOMES UNDER CONTRACT ON THE NORTH FORK OF LONG ISLAND

*NOTE: the towns/villages reported include Aquebogue, Baiting Hollow, Calverton, Cutchogue, East Marion, Jamesport, Laurel, Mattituck, Greenport, New Suffolk, Orient, Orient Point, Peconic, Southold, and Riverhead.

Total under contract 2008: 35

Total under contract 2009: 17

Median listing price, 2008: $475k

Median listing price, 2009 $399,990k

Median days on Market, 2008:112

Median days on Market, 2009: 117

The real estate numbers are not nearly as pretty as the foot of snow in my front yard.

If you don’t need to sell your home, wait out the turmoil. Summer will be here soon!

February under contract homes demonstrate a median listing price decrease of approximately 17% over 2008.

If you must sell your home, be prepared for the market changes that don’t appear to have an ending any time soon- the direction is down, and understanding that reality when you enter the market will offer a far less frustrating experience.

Buyers: the market is obviously dropping. Understanding trends is imperative when you attempt to navigate possibilities. We’ll provide all data within our grasp to provide an accurate picture of what is happening, in order to provide you with the facts that you need now, perhaps more than ever.

*figures are deemed reliable, but not guaranteed. All data is as good as the real estate companies reporting it to MLSLI. Figures do not provide for sale by owner or private contracts.

To search available 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 also.

This entry was posted on Tuesday, March 3rd, 2009 at 7:43 pm and is filed under Real Estate News. 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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