Hempstead, New York Real Estate Trends-Mid Year Report, June 30, 2010
Hempstead, New York Real Estate
Hempstead, New York 11550
The Hempstead, New York Real Estate Trends-Mid Year Report June 30, 2010 covers Hempstead, New York Real Estate market activity, year to year, for the 4 year period ended June 30, 2010.
The report focuses on the number of Hempstead, New York Real Estate homes sold, the median sales price and median days on market with particular attention to foreclosure and short sale data. For the years indicated the periods covered are as indicated in the following table.
|
Year |
2007 |
2008 |
2009 |
2010 |
|
Period Covered |
7/1/2006-6/30/2007 |
7/1/2007-6/30/2008 |
7/1/2008-6/30/2009 |
7/1/2009-6/30/2010 |
The Village of Hempstead is located in the Town of Hempstead. It is referred to as Hempstead Village to distinguish it from the Town of Hempstead. In addition to being the seat of government for the Town of Hempstead, the Village of Hempstead is also the most populous in the state of New York.
Hempstead, New York Real Estate Number of Homes Sold
The total number of Hempstead, New York Real Estate homes sold for the four year period ended June 30, 2010 decreased from 304 in 2007 to 216 in 2010. This represents a 28.9 % decrease in sales volume. The volume of Hempstead , New York Real Estate sales realized its biggest drop from 2007, when it was 304, to 2008, when it was 172. The home sales volume was decreased from 2007 thru 2009. A marked increase has been experienced from 2009, with 146 homes sold, to 2010, with 216 homes sold.
A closer look at the type of sales over the four year period reveals an increase in the number of Hempstead, New York Real Estate foreclosures and Hempstead, New York Real Estate short sales. The number of foreclosures increased from 14 in 2007 to 105 in 2010. The number of short sales increased from zero in 2007 to 33 in 2010.
With total Hempstead, New York Real Estate sales of 216 for 2010, the 105 Hempstead, New York Real Estate foreclosure sale represents 48.6% of total sales and the 33 Hempstead, New York Real Estate short sales represents 15.3% of total sales.
Hempstead, New York Real Estate Median Sales Price Overview
The median sales price of Hempstead, New York Homes over the 4 year period ended June 30, 2010 declined from $400,000 in 2007 to $186,500 in 2010 for a decrease of 53.4%. The median sales price has been decreasing year to year from 2007 to 2010.
The growth in volume of Hempstead, New York Real Estate foreclosures, short sales and the economic downturn have been elements in declining median sales prices. The median sales price of Hempstead, New York Real Estate foreclosures decreased from $307,125 in 2007 to $140,000 in 2010. The first Hempstead, New York Real Estate short sale sold data was available in 2008. The Hempstead, New York Real Estate short sale median sales price decreased from $240,000 in 2008 to $206,000 in 2010.
Hempstead, New York Real Estate Days on Market Overview
The Hempstead, New York Real Estate days on market increased from 78.5 days in 2007 to 99 days in 2009. The days on market decreased from 99 in 2009 to 74.5 in 2010.
Data Source: Multiple Listing Service of Long Island
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Data Source: Multiple Listing Service of Long Island
Information deemed Relable but not Guaranteed.
All photos and written content were produced by Patrick White. All Rights Reserved. This content may not be reproduced or reprinted, except for Active Rain Re-blogging, without express written permission of Patrick White, REALTOR®, Home Driven Realty, Inc., Baldwin, New York.
Patrick White, IMSD, e-Pro, RSPS, SFR, SRES, Realtor
Licensed Real Estate Broker
Certified HUD Foreclosure Broker
Home Driven Realty Inc
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