Entering the dog days of August, we can see that there’s been at least some motion in the Long Island real estate market. A few houses here and there have disappeared off the MLS, including more than a couple that I’ve been keeping my eye on.
Of course, except for the ones I’ve actually driven by and seen a “SOLD” sign on, I have no way to know how many of the homes have actually sold and how many have just been pulled off the market by frustrated owners unable to get their price. I’ll be keeping my eye on Zillow for the updated info.
Still, you have to figure that people would start buying eventually. Summer is slipping away quickly and if you want to be in a house before the kids start school, sooner or later you have to suck it up and pull the trigger, even if the price isn’t quite right.
As for me, I’m still keeping my powder dry. I’ve been watching the market pretty intently for the past ten months or so and, with a couple of notable exceptions, I haven’t seen anything that really tempted me to jump in and buy. Everything is still priced too high, even the bad properties.
Homes in Babylon
- Total: 104
- Babylon School District: 54
- BSD and Under 600K: 33
- Condos/Coops:5
Technorati tags: Babylon
Actually, “dog days of summer” is a great way to describe the real estate market in August in any given year.
In my experience, August is absolutely the slowest month for home sales.
The busiest market times have traditionally been April-May and Sept-October.
Of late—the last three years—January has been kinda “hot” too. Go figure.
As for people buying in this crazy market: well, they are, just not in the numbers we’ve seen in recent years. Sure, we mortgage folks are nowhere near as busy as we’d like to be, but there are a couple of people out there looking to buy homes for reasons that have nothing to do with market silliness.
Hey there, Trev. It’s nice to see you over here on my new blog.
I certainly wouldn’t gainsay your experience here. It does seem to me that even though, as you say, August is traditionally down month, from my limited view of things it seems that there’s been more activity in the past couple weeks than there’s been in the rest of the Summer and late Spring.
People are always buying. If someone wants to be in a house before their kids starts school, they need to pull the trigger soon.
Nice site you have here. I personally think the housing bubble only exists on the front page of newspapaers. Here in northern New Jersey (I got your link off of njrereport) prices are UP 1.7% while sales volume in many towns close to Manhattan is also up. Just the other week, K Hov sold 2 penthouses for $3 million each in Jersey City.
Feel free to check out my blog. The link is in my profile.
Hi Donald. Well, it wouldn’t be a proper real estate blog without a HH or two, so I bid you welcome.