Real Estate: Home Sales Market Report for January, 2014. Home Buyers Port Washington, Sands Point, Manhasset, Great Neck, NY

Home Sales continued to be strong in January 2014; the momentum of the 2013 Seller’s Market has carried us into 2014. The Real Estate Sales Market of 2014 promises to be extremely competitive.  Properties are slowly being introduced to an overabundance of Home Buyers, who for one reason or another haven’t been able to procure new homes over the past several months.  These Home Buyers are Ready, Willing and Able, with mortgage pre-approval letters from their lenders, a strong knowledge of the Market Value of Homes and a burning desire to buy their next home at a lower price than is projected in the months and years to come.  In January, mortgage rates took an unexpected dip before the projected rise in interest rates, expected to be 5.75% by August, 2014. 

Savvy Home Buyers have become acutely aware of the importance of being competitive in this market, angling for every possible edge, to prevail during the feeding frenzy of the impending Seller’s Market. The single most significant act Home Buyers can take to gain that tactical advantage, is to work with an Experienced and Accredited Buyer Representative, ABR* with The National Association of REALTORS.  As your Buyer Representative, I will act solely “on your behalf & in your best interest,” for the highly competitive, multiple offer setting of the “2014 Seller’s Market.” 

The Real Estate Sales Market Statistical Report for January, 2014

Town:

Total Sales

1/2014

Transaction Increase:

1/2013 to 1/2014

Current Property

Value in 1/2014

Values Increase

1/2013 to 1/2014

Port Washington

283

15.0%

$715,000

7.2%

Sands Point

44

69.2%

$2,100,000

17.2%

Manhasset

230

8.5%

$1,199,500

0.4%

Great Neck

561

27.8%

$700,000

11.5%

Glen Cove

211

21.3%

$437,000

7.2%

Roslyn Heights

188

48.0%

$685,000

12.3%

A survey by The National Association of Realtors showed that “Home Buyers who work with

Accredited Buyer Representatives ABR*s  pay less for their homes than those who don’t.”

For Additional Relevant Real Estate Market Information, visit: WNBRE or Contact William Bodouva

William N. Bodouva, Jr., ABR* SFR E-PRO SRES RSPS RETC   Licensed Real Estate Broker & Owner

Tel: 516-815-6600     E-mail: wnb@wnbre.com     Website: www.wnbreportwashingtonrealestate.com

Specializing in the:  Port Washington, Sands Point, Manhasset, Great Neck, Glen Cove, Glen Head, Sea Cliff and Roslyn Heights, areas on the North Shore of Long island, NY, since 1985.