A Good Year for Syosset Real Estate in 2013

The housing recovery was very evident in Syosset in 2013. 310 residential properties were put on the market during the year with an average asking price of $626,000. The properties that sold only reduced their average asking price to $610,000 before they received the offer they accepted. Only 224 residential properties were listed in 2012. Their average asking price was $572,000 and they had to lower their price to $556,000 before they accepted an offer. There are currently 59 residential properties listed for sale in MLSLI in the town of Syosset – the average asking price is $699K. 35% of these properties have been listed more than 4 months. What is in store for 2014? I don’t have a crystal ball but as interest rates go up and inventory goes down there will probably be less listing and less sales but at a higher price. A good year to sell if you have been waiting for a market recovery. For more detailed statistics check out our website www.syossetlife.com