My New Blog

With real estate sales down 9% nationwide according to REDFIN as of the 1st week in September compared to the high point set in May, 2021, where are we headed? The decrease in pending sales is but one indicator of the softening in the competitiveness  of the housing market. Quick deals (# of homes with an accepted offer within 2 weeks) " on the market" also fell 9% from its peak in March, 2021 and finally the share of homes sold above asking price, dropped to 50.1% from 55% in early July, 2021.
However, when the data is in on the North Fork, Riverhead and Shelter Island, demand as I see it from the comparable sales used in my appraisals, should remain strong throughout the fall.