Tuesday Market Trend – June 6, 2017

A recent study by the National Association of Realtors found that people who purchased a home in 2016 moved an average distance of 12 miles from their previous place of residence. And while home prices and housing inventory levels vary greatly from region to region, the one area where the long island housing markets mimics the national market is when it comes to the distance buyers travel to purchase their new home.

A perfect example of this theory is in the town of Melville. In 2016 there were 132 homes sold in Melville. Of those one hundred and thirty home sales only 2 buyers relocated from outside New York (one from Florida and one from Illinois).

So while it might sound good on a listing presentation when other real estate companies tout their “Global Partnerships” or the “International Affiliations” they have to get their listings sold, the truth is that REAL ESTATE IS A LOCAL BUSINESS!! It always has been that way and it probably will always be that way.

With 14 offices in Nassau and Suffolk counties and over 650 sales associates Signature is uniquely positioned to help you with all of your real estate needs. Call us today to experience the Local Signature Difference!