Will My House Sell Fast on Long Island?

Sellers Ask:

Will My House Sell Fast on Long Island?

It may and it may not.

A house can sell quickly. A house can take a long time to sell.

Recently, we showed one of our buyers a condo at 1:00 p.m. and they were going to be the first buyers to see it. The buyers liked it, but wanted to see a few more units before making their decision. When I called a couple of hours later to make a full price – cash offer, the listing agent told me we were too late. The sellers accepted the first offer they received from the 2nd couple who looked at it. Even though I told the buyers this condo was priced right, was in great condition and that it would go quickly, they thought they had some time before making their decision…They were wrong!

Here’s the reality…the Real Estate market is controlled by the buyers and what they are willing to pay for a home or condo. If a property is priced right, in good condition, in a nice area, it will attract buyers. If there are many showings and lots of potential interest but no solid offers, then the price is too high. Those are the homes that can take a longer time to sell.

Then, there are homes that are unique and may need a particular type of buyer. Log Cabin homes, small 1 bedroom cottages, homes on main roads, homes with lots of land, homes with too little land, homes hanging too close to a bluff…the list goes on.  Every buyer has their own style and what they are looking for. We are working with a single woman who will only look at homes that are 5000 sq ft or more. We are also working with a family of 4 who are looking for a 2000 sq ft residence. There are those that are looking for traditional homes and those that want ultra modern. As a seller, don’t take it personally if a buyer likes your house or not. Not every style appeals to all.

So, How Is The Long Island Houseing Market Doing?

According to The Long Island Multiple Service, The August 2018 closed median home price for Long Island, which includes Nassau, Suffolk, and Queens was $485,000 representing a 9.0% increase over last August. Nassau County reported a $550,000 closed median home price in August representing a 7.4% increase over $512,000 reported by last year. Suffolk County reported a closed median price of $405,000, which represents a 9.2% increase over $371,000 reported a year ago.
Bottom Line:
As Long Island Premier Realtors®, we know that homes can sell very fast and some will take time. We can’t draw a true comparison because there are so many variables in selling a home. What we do know is this…If you decide to work with Realtors® Lawrence “Larry” and Sheila Agranoff, we will work hard to get your home sold and negotiate the best price for you.
When you are ready to sell, Call Our Cell: 631-805-4400
Happy Selling!