Historically Low Real Estate Inventory in Nassau County and Suffolk County
Good news for home sellers, as prices also continue to climb. In Nassau County the Median Sales Price rose 2.5% and in Suffolk County the Median Sales Price rose 6.4%, year over year.
LIBN - The Long Island Business News does a good job with their summary. You can check it out here - https://libn.com/2020/01/10/long-island-home-prices-climb-on-strong-sales/.
Inventory and mortgage rates are also historically low on Long Island. Buyers are in market and have more buying power due to the low mortgage rates. They are ready to purchase now. Again great news.
But consider this... when you sell your home you also need to purchase a new home or apartment.
- Where will the new home be?
- How's the market?
- Is inventory equally tight?
If you're looking in the South, like Naples Florida and Charleston South Carolina, where inventory is equally low, you will want to time the sale of your home with the purchase of your next. The Mackenzie Rae Team are experts at this.
As part of Century 21, we have a global network that ensures we're providing you the most comprehensive advice to maximize the value of your home, while ensuring you don't miss your perfect next home.
Schedule an appointment or just give us a call 646 846 8509. We're always ready to help guide you.