Video: Real Estate Community Tour for Cutchogue, NY
See Real estate community tour for Cutchogue, NY
Welcome to July's Market Update. Let’s take a look at residential real-estate activity in your area during the month of June. The number of active listings was down 37% from one year earlier, and down 20% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was 850-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up more than 400%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was 670-thousand dollars. The number of units sold increased 200% year-over-year, and increased 50% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.