Strongest First Quarter Sales in a Decade

April 27th, 2016 - by Joan Bischoff van Heemskerck
Filed under: Housing Market, Joan Bischoff, local, market conditions

The New York State Association of Realtors announced its NYSAR first quarter report 2016 on Real Estate activity in the state, and it contained excellent news!

“Three consecutive months of sales growth fueled the best start to the New York State housing market since 2007. According to NYSAR, the 23,932 closed sales in the first quarter represents a jump of nearly 17 percent from the 2015 first quarter. Additionally, the statewide median sales price grew by nearly 1 percent compared to a year ago.”

U.S. Commerce Department: Northeast housing starts jump more than 60 percent in March: The United States Department of Housing and HUD released its March report on April 19 with more good news.

  • Privately-owned housing starts in March rose 61.3 percent for the Northeast to 121,000, according to data released by the U.S. Commerce Department. February’s total was 75,000.
  • Nationally, housing starts were at a seasonally adjusted annual rate of 1,089,000, an 8.8 percent decrease from the revised February total of 1,194,000.
  • Building permits for the Northeast fell 17.9 percent in March, dropping to 101,000 from 123,000 in February. Nationally, building permits fell 7.7 percent to 1,086,000.

Looks like the market’s heating up: agents better brush up on their handling of multiple offers. The National Association of Realtors put out a field guide on multiple offers with clear information on how to prepare buyers and sellers for a scenario of multiple offers. It summarizes:“Buyers and sellers need to appreciate that in multiple offer situations only one offer will result in a sale, and the other buyers will often be disappointed their offers were not accepted. While little can be done to assuage that disappointment, fair and honest treatment throughout the offer and negotiation process, coupled with prompt, ongoing and open communication, can enhance the chances that all buyers – successful or not – will feel they were treated fairly and honestly.”

Joan Bischoff van Heemskerck, Lic. Associate Broker, Executive Sales Manager North Fork & Shelter Island for Town and Country Real Estate, 2016 President, Hamptons and North Fork Realtors Association (cell 631 948 0234; jbischoff@1townandcountry.com).




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