Lindenhurst Sold Homes Report for Dec. 2012

Five homes sold in Lindenhurst for December 2012. For privacy reasons, the house numbers have been omitted:

Farmers Avenue - Listed for $349,900 and sold for $327,000 and on the market for 46 days. A colonial style home and has seven rooms, four bedrooms, 2.5 baths, partially finished full basement and a one car attached garage. This home showed like new construction.

South 5th Street (short sale) - Listed for $314,990 and sold for $229,000 and on the market for 547 days. A ranch style home and has six rooms, three bedrooms, 2.5 baths, full finished basement with no garage. It was listed too high in the beginning which causes a short sale home to linger on the market longer than it should.

28th Street - Listed for $259,900 and sold for $250,000 and on the market for 23 days (not a short sale). An expanded cap style home and has 11 rooms, four bedrooms, 2 full baths, full finished basement and a one car attached garage. The home was well taken care of.

Laurel Road - Listed for $319,000 and sold for $297,500 and on the market for 230 days. A cape style home and has nine rooms, four bedrooms, 2 full baths, a partially finished full basement and a two car attached garage. The home was very dated and was listed higher originally than it should have.

South 4th Street - Listed for $339,000 and sold for $315,000 and on the market for 104 days. A colonial style home with six rooms, three bedrooms, 2 full baths, a full unfinished basement and a one car attached garage. This home also showed like new construction.

Nine homes went under contract in Lindenhurst in December 2012. List prices range from $189,000 (REO property) to $329,990.

Currently, there are 178 homes on the market in Lindenhurst. 70 of them are South of Montauk Highway and only 5 have stated there is damage from Sandy. I am sure there are more and it should be noted in the listing so there are no surprises. Out of the 178 homes, 57 of them are short sales and there are 2 REO properties. 

Lindenhurst is seeing a lack of good homes on the market and buyers are waking up to this. Buyers know that when a nice home comes onto the market they better grab it or it will be sold quickly. This is how supply and demand starts. When we start seeing more of demand, prices will start to go up. A home that is listed for up to $325,000 and is in move-in condition is in a seller's market which means buyers do not have many choices. From $350,000 and up buyers have choices so therefore those homes are in a buyer's market.

Until next month take care and be well.