Archive for May, 2014

May
10

How’s the Market – April 2014

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While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

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May
04

In the News – May 4, 2014

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05/02/14 – Elliman Releases 1st Quarter 2014 Long Island Sales Quarterly Sales Survey:  The Long Island housing market entered 2014 with low inventory, rising sales volume, faster pace and rising prices. While inventory may have bottomed in the prior quarter, levels have remained low and this continues to be a challenge for many homebuyers. With low inventory, homes are selling faster and prices have edged higher over the past year. With the economy slowly improving and mortgage rates stabilizing, we anticipate a busy spring market.  See the full report at Elliman.com

 

05/02/14 – Elliman Releases 1st Quarter 2014 Hamtons Sales Quarterly Survey:  The first quarter Hamptons market improved significantly from the same quarter last year which had been recovering from the “fiscal cliff” hangover. Sales activity was significantly higher and marketing times were shorter. Inventory was up from last year¹s levels, but has remained stable for the past year. Big gains were seen in the luxury market, with the 4th highest sales total of $5M+ in 8 years. Wall Street compensation was higher this year and is being felt across the market. We look to improving market conditions in the coming quarters.  See the full report at Elliman.com

 

05/02/14 – Elliman Releases 1st Quarter 2014 North Fork Quarterly Survey of Residential Sales:  The North Fork returned to a more normal market, improving from the weaker conditions experienced a year ago. The number of sales jumped this quarter, rising faster than inventory levels. Home prices generally remained stable, but marketing times fell as the pace of the market was faster. Like the rest of the region, we expect these conditions to continue into the spring.  See the full report at Elliman.com

 

 

 

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