Long Island real estate is continuously changing and evolving, keeping Long Island real estate companies on their toes, forcing them to constantly change their tactics and approaches. The Multiple Listing Service of Long Island just published their monthly Market Update for March. It appears that the continued theme for 2017 is the shortage of available homes listed for sale on the MLS. Since March of 2016, a year-over-year comparison, the number of newly listed properties for sale in Nassau County decreased six percent, and the number of newly listed properties in Suffolk County fell three percent.
According to many Signature Premier Properties sales associates, buyer activity continues to be strongest for entry level homes in any given market. This is due to the fact that many individuals looking for entry level homes on Long Island are at an age where they are settling down and starting families; it is also based on an economical trend, which is seeing millennials receiving larger salaries, a growth that has not been seen in a number of years. However, the trade up and luxury segments of the market have also been performing well. Again, this is largely due to increased salaries and larger class mobility being seen on Long Island.
This “balance” of sales, between first time buyers and upgrades, signals an overall healthy market and Signature Premier Properties is looking forward to a continued strong selling season.
And, even during a period of time when demand is outpacing supply proper pricing is still the most critical component to a successful sale. There is an abundance of real estate information available for consumers on the internet today but when it comes to properly pricing a home for sale your most accurate resource is your Signature Premier Properties sales associate.
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