Throughout the fourth quarter of 2019 and continuing into the first quarter of 2020 inventory is falling across the island and we are firmly set in a sellers market, when looking at single family homes under $1,000,000.
Real Estate Inventory
In Nassau County the Median Sales Price rose 2.5% and in Suffolk County the Median Sales Price rose 6.4%, year over year.
The record breaking mortgage rates we saw pre-pandemic have continued to fall, and this is great news for buyers and sellers. Let me explain...
Sellers often do not consider mortgage rates when selling their home, unless they are currently looking to upgrade themselves, which incidentally we are seeing a lot of right now. Sellers, however, [...]