Long Island Real Estate market: Available Homes For Sale

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There are 32,024 homes for sale on Long Island (Nassau, Suffolk, Queens). If you’re a frequent visitor to my website, you know that I like to analyze Long Island real estate statistics.

Selling and pricing is all about competition. When there is less competition (less supply of a similar product), it’s easier to sell. In the case of homes, when we look at where we’ve been in terms of homes for sale, this current number of 32,024, is better than September which had over 33,000 listings.

What this does is, it makes for less supply (less for buyers to choose from) and promotes price stabilization. Hello! Right now is a very advantageous time to place your home on the market if you’re thinking of selling.

Let’s look at previous months homes for sale (inventory).

Long Island Housing Inventory for October 2010

There were nearly 34,000 homes for sale in October. Home Sales Inventory has dropped nearly 5% in the last two months.

Translation for those who don’t quite understand the impact of that statistic: there are less homes for sale. If you want to sell your home, right now, pick up the phone and call a real estate agent.

My prediction for January through April of 2011 is for a flood of homes to be listed for sale and inventory to rise over 5%, which would put Long Island home inventory around 36,000. What this means is, if you wait to put your home on the market after the holiday, you will be following everyone else back to the market.

April and May will be probably the worst time to actually put your home on the market because that’s when everyone else will be doing the same!

My professional advice as a sales expert in the real estate field: Don’t follow the pack, lead the pack! The bottom line is, right now, if you’re listed with a competent agent who can price your home correctly and market it effectively, you stand a very good chance of selling your home. If you’re not selling now, you can still sell in May, but you may be selling for less money.

I offer a full presentation about Pricing Strategy that you won’t get anywhere else. I use terms and statistics you won’t find with any other real estate agent.

Think about this, did any other agent call you or write on their website about this 5% drop in available inventory? No they didn’t because they don’t do what I do.

Should you have any questions about this article or if you want to schedule a private consultation, please contact me at (631)881-5959.

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