Long Island home prices are on the rise as supply is dwindling!
If you’re looking to buy, waiting until the real warmth of the spring weather may not be your best bet. Many buyers are under the impression that the Spring or Summer months are the best time to buy a home as “there’s always more on the market” to choose from. However, this is not always the case as we are currently seeing.
With a low inventory to choose from…and out of those, even less that may meet your specific needs or desires and ultimately those of other prospective buyers that may share them as well, it is truly a seller’s market. Prices are rising and inventory is dropping. With no guarantee that this will change, as a buyer the window of opportunity to nab that dream home is slowly closing. Getting out ahead of the rush can be quite advantageous. With less buyers out at this present moment, you have a better chance of getting that perfect home at the price you want rather than getting into a bidding war with other buyers vying for the same property.
For sellers, if you’re considering listing your property…now is most definitely a great time. With that lower availability of homes on the market, your listing price may end up being higher than your thought possible. Hesitation can sometimes be a real killer…don’t let it kill the possible sale of your home at a price you’ll be more than happy with! Coupled with interest rates still at a reasonable level, buyers can still buy easily and comfortably…and homes will get sold.
Check out this article from Newsday last month about the Long Island housing market!