Market Conditions in Merrick>Question Details

Frankieli, Home Buyer in Merrick, NY

What's going with listing prices in Merrick?

Asked by Frankieli, Merrick, NY Thu Oct 1, 2009

I am looking at the difference between listing prices and the sales prices. There is a huge difference between the two; more so than other

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The price of houses kept going down. many exports would say that we are at the bottom right now.
The prices will start to climb back up again during 2010
0 votes Thank Flag Link Thu Jan 7, 2010

In MOST areas of New York, houses have recently been selling more quickly than they were earlier this year. That has a lot to do with the prices coming down significantly from their original listing prices. As the inventory back log lessens that gap should get more reasonable. I am seeing more actual competition for listings up here now and my buyers and sellers are seeing closer to list sales happening again. If I can refer you to a buyers agent to help you direclty, please let me know. This is a free service to you and I can have a relocation specialist in contact in about a day. Let me know if I can help.

My Best and Good Luck!
Lisa Brodsky
0 votes Thank Flag Link Thu Oct 1, 2009
The current market is forever changing, inventory is moving because of lower prices and buyers reacting. So while sales are up the prices are down.

0 votes Thank Flag Link Thu Oct 1, 2009
Hi Frankieli,

Merrick tends to be a better area than other areas
in Long Island. There are less foreclosures and
less short sales. As to your question that you see the listing
price and the sales price a big difference, this might be
due to the fact that the market is changing faster than
the market value can be determined. So the selling price
then becomes the new market value of homes in that area.

This market is changing every month so it is hard to keep up with
it especially when you want to get the most money for the sellers.

I hope this answers your question.

Camille Dandola
Buyer Representative
Charles Rutenberg Realty
0 votes Thank Flag Link Thu Oct 1, 2009
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