Video: Real Estate Community Tour for Farmingdale, NY
See Real estate community tour for Farmingdale, NY
Welcome to January's Market Update. Lets take a look at residential real-estate activity in your area during the month of December. The number of active listings was down 13% from one year earlier, and down 27% 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 under 430-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 7%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was 380-thousand dollars. The number of units sold decreased 9% year-over-year, and increased 31% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. 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.