It’s the time of year that we look ahead and attempt to give our best guesses about the market, the industry, and the effects they may have. Wondering how Port Jeff and Belle Terre ended the year in Total Sales?
A total of 52 homes were sold in 2011. 47 in Port Jefferson and 5 in Belle Terre.
The Median Sold Price (the point at which 50% of the units are above that price and 50% below that price) in Belle Terre was $925k, the Lowest Sold Price, $565k, Highest, $1,550,000.
Median Sold Price in Port Jefferson, $512k, Lowest Sold Price, $220k, Highest, $1,100,000.
How did we do compared to 2010 Closed Sales Price? Not bad at all!
A total of 58 Homes Sold in 2010. 52 in Port Jefferson and 6 in Belle Terre.
Median Sold Price in Belle Terre, $840k, Lowest Sold Price $560K, Highest $4,000,000.
Median Sold Price in Port Jefferson, $521k, Lowest Sold Price, $270k, Highest $1,200,000.
Many believe that few houses are selling and that almost no one can get a mortgage. I want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday nationwide, approximately 12,000 will sell today and approximately 12,000 will sell tomorrow. So the thinking that homes aren’t selling just isn’t true.
Another interesting fact in the report was that 72% of these transactions were accompanied by a mortgage. That means that approximately 8,719 people qualify for a mortgage on a daily basis in this country.
There are over 12,000 homes sold and over 8,000 mortgages granted every day. The real estate market is doing better than many believe. There’s no better time than NOW.