2011 Real Estate Market Report For the Five Towns

The Five Towns has been a highly sought after community for some time now.

Presently there are 369 Homes for Sale in the Five Towns with prices ranging from $95,000 for a small two bedroom ranch in Inwood to a $4.4 million estate in Hewlett Neck. The mean listed price is around $600,000, but there is truly a house in every price range.

In 2011, 302 homes sold in the Five Towns for an average sales price of $591,000. The average days on market for closed homes was 125 days.

The good news for sellers is that these homes sold for 92.3 percent of the asking price, and the good news for the home buyers was these homes were priced slightly lower this year than last year’s homes.

January has shown an increase in activity and we expect it to keep up since more buyers are concerned that interest rates may be rising soon.  

If you are interested in buying or selling a home in the Five Towns area, please visit Five Towns Real Estate Guide or contact Donna Galinsky or Lenny Bobrow of Pugatch Realty Corp.