It may be cold
outside, but the weather did not have a negative effect on housing activity in
January. Inventory is moving at a 4%
faster rate annually - as demand
continues to outpace supply - according to realtor.com®.
Median list price, nationally, has held firm at $250,000, a record for the
off-season. By comparison to the
national average, Southold Town’s median price is about $525,000 and Riverhead
Town has a median price of about $375,000.
Realtor.com® expects
inventory to dip another 9%, despite 360,000 new listings entering the market. Chief Economist Jonathan Smoke, stated that,
“ the downside to this strong off-season is that we have started 2017 with a
new low volume of available homes for sale and a new high for prices.”
As a buyer, you should make your move now! Inventories
are low, prices are moving up, mortgage rates will continue to inch up as we
approach spring. Brave the cold weather
if you have to, it will pay off in
getting a better value and best of all you will be set to enjoy the summer
season on the North Fork!
Sources: RIS
Media, January 30, 2017, www.realtor.com
Looking to Buy or Sell your Home? Call us at 631-765-5333, or visit us on our website: beninatiassociates.net. We listen, we care…….and we get results.
Looking to Buy or Sell your Home? Call us at 631-765-5333, or visit us on our website: beninatiassociates.net. We listen, we care…….and we get results.
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