Jan-06: The month of January proved to be
very mild both in terms of weather and home sales. As was stated here
previously, we anticipated a move toward a more traditional business cycle
whereby the market is hot during the spring and summer months and cools
during the winter months. Lets all hope that proves to be accurate.
In spite a mild sales season, home prices held
their values well. What seemed to have skewed the numbers this month
is that many of the higher priced properties did not turn over as was
anticipated. Homes priced toward the low-end of the market moved at a
faster rate thus, bringing down the averages.
Local Breakdown:
| |
Nassau Co. |
Suffolk Co. |
Queens |
| Average Sales Price |
$490,000 |
$400,000 |
$565,000 |
| Monthly Change |
-1.21% |
-3.61% |
1.07% |
| Annual Change (Jan-Dec.) |
N/A |
N/A |
N/A |
| 5 Year Change |
186% |
220% |
251% |
| # of Home Sales/Dec. |
689 |
864 |
487 |
*Sales data from the New York State Association of Realtors and the LI-MLS
|
