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2011 Real Estate Market Report For the Five Towns

The year in real estate in 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.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Jerry Cibulski February 24, 2012 at 04:15 AM
It is assuring to see the activity is increasing with home buyers. The confidence is coming back to the real estate markets. The buyers are finding a normal market and value in pricing and selection.

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