Video: Real Estate Community Tour for Farmingdale, NY
See Real estate community tour for Farmingdale, NY
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was down 30% from one year earlier, and down 7% 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 just over 400-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 15%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 370-thousand dollars. The number of units sold was consistent year-over-year, and increased 27% month-over-month. These latest figures could indicate that more buyers have been finding what they're looking for. 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.