Lindenhurst Sold Homes Report for Jan. 2013

10 homes sold in Lindenhurst for January 2013. For privacy reasons the house numbers have been omitted:

South 13th Street (Short Sale) - Listed for $112,000 and sold for $112,000, and on the market for 113 days. It's a one-bedroom home.

Buffalo Avenue (Bank Owned) - Listed for $225,000 and sold for $200,000, and on the market for 352 days. This home needed little updating, and the buyer got a great deal for $200K!

42nd Street - Listed for $239,000 and sold for $225,000 (not a short sale), and on the market for 107 days. This home needed a lot of work.

South Eighth Street - Listed for $249,000 and sold for $240,000, and on the market for 81 days. It's a three-bedroom Cape.

South Sixth Street - Listed for $339,000 and sold for $315,000, and on the market for 104 days. It's a three-bedroom Cape.

South 14th Street - Listed for $299,000 and sold for $291,000, and on the market for 41 days. It's a three-bedroom ranch with a full, finished basement.

Brook Street - Listed for $329,000 and sold for $307,400, and on the market for 156 days. The property taxes are just more than $14,000, and this can hinder the sale of a home. It's a four- bedroom Colonial.

North Lewis Avenue - Listed for $440,999, and had a price reduction to $389,800 and sold for $382,250, and on the market for 254 days. This is what happens when your home is overpriced in the beginning. You end up selling your home for less. It is a five-bedroom, 10-room Colonial.

South 12th Street - Listed for $389,900 and sold for $389,900, and on the market for 92 days. It's a three-bedroom, seven-room ranch with a beautiful finished basement. The entire house showed like a model home.

North Alleghany Avenue - Listed for $399,819 and sold for $385,000, and on the market for 133 days. It is a four-bedroom, nine-room high ranch with an in-ground pool. This home also showed like a model home.

Sixteen homes went under contract in Lindenhurst in January 2013. List prices range from $120,000 (short sale) to $395,000, with the majority being in the mid to high $250's.

Currently there are 172 homes on the market in Lindenhurst. Sixty of them are South of Montauk Highway down from 70 in December. Ten of those homes sold.  Out of the 172 homes, 54 of them are short sales, and there are three bank-owned properties. 

Lindenhurst is continuing to see a lack of good homes on the market, and buyers are waking up to this. Buyers know when a nice home comes onto the market and is priced at market value, they better grab it or it'll 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's listed for up to $325,000 and is in move-in condition is in a sellers' market, which means buyers do not have many choices in this price range. From $350,000 and up buyers have choices, so therefore those homes are in a buyers' market....for now.

Until next month, take care and be well.