Wanda, Renter in Montauk, NY

What has been the % difference between the asking price and the actual sold price of land in southold?

Asked by Wanda, Montauk, NY Mon Jun 24, 2013

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The statistics for YTD 2013 are 13.67% for MLS zone 30 which includes Shelter Island, Southold and Riverhead Townships. This is based upon 33 recorded transactions on MLS. This is a statistic, but should not be applied to any particular sale or purchase that you contemplate. These discounts are from the last listed asking price, not the starting price on a particular listing, and does not take into consideration that the property may have been previously listed with another broker, or with the same broker at a different price.


Some properties sell at or close to their listing prices, a few may generate a premium from the ask, and still others sell at a severe discount, depending on how ambitious their price starting point was.


Please check with a local broker, as the purchase of land could be a tricky thing, especially if there are not permits in place for your ultimate use.
0 votes Thank Flag Link Mon Nov 11, 2013
Historically, over the past several years it's 12.21%. However, I would argue that this is essentially a meaningless statistic as each piece of property is different. I would suggest that you contact a local Realtor to get an opinion on the specific parcel.

Tom Moser
Keystone Realty USA
http://RefundAtClosing.com
0 votes Thank Flag Link Mon Jun 24, 2013
Depends, each property is unique; therefore review comps with your agent, recently sold similar properties in the immediate area; see what the data suggests and go from there....
0 votes Thank Flag Link Mon Jun 24, 2013
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