Syosset Home Sales Down in New Housing Report

A mid-year real estate report from International Realty shows that home sales in Syosset and Woodbury are down compared to last year, but up in Muttontown.

A total of 67 homes were sold in Syosset from Jan. 1 to June 30 in 2011, which is down from the total of 100 sold from that same period in 2010. Homes were on the market for an average of 99 days in 2011 compared to 85 days in 2010, according to the report.

The average sales price for a Syosset home in 2011 was $562,241, down from $583,364.

In Woodbury, a total of 15 homes were sold in 2011, compared to 17 in 2010. The average price in 2011 was $988,933, up from $948,047 in 2010.

Muttontown faired much better - a total of 14 homes were sold in that period in 2011 - up from 6 a year ago.

Each quarter, Daniel Gale releases the report - each market report looks at community-specific statistics for closed residential real estate sales including number of transactions, days on the market, median and average sale price, and compares that data against the same period of time of the previous year.

This latest report covers activity for the first six months of 2011 (January through June), which is traditionally one of the busiest times for real estate transactions, and often a predictor of the overall health of the market.

 “The specificity of data relevant to individual communities and neighborhoods is what makes our market reports particularly meaningful to the local homeowner,” said Patricia Petersen, President and CEO of Daniel Gale Sotheby’s. 

Nancy Carlin, SR VP and sales manager for Daniel Gale Sotheby’s, got specific about Syosset. Carlin blamed the lower numbers this years to a tax incentive for new homebuyers in 2010.

"Compared to May of last year...we still remain under the performance of 2010 but we need to remember that the tax incentive played a significant part in home sales that year," she said.