Elmont, New York Real Estate Trends-First Quarter Report March 31, 2011
Elmont, New York Real Estate
Elmont, New York 11422
The Elmont, New York Real Estate Trends-First Quarter Report March 31, 2011 covers Elmont, New York Real Estate market activity, year to year, for the 4 year period ended March 31, 2011.
The report focuses on the number of Elmont, 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 |
2008 |
2009 |
2010 |
2011 |
|
Period Covered |
4/1/2007-3/31/2008 |
4/1/2008-3/31/2009 |
4/1/2009-3/31/2010 |
4/1/2010-3/31/2011 |
The hamlet of Elmont is located in the Town of Hempstead in Nassau County, New York. Elmont, New York is the home of the Belmont Stakes, the third jewel of the Triple Crown, and was also where Heisman Trophy Winner and NFL Quarterback Vinny Testaverde grew up.
Elmont, New York Real Estate Number of Homes Sold
The total number of Elmont, New York Real Estate homes sold for the four year period ended March 31, 2011 increased from 178 in 2008 to 189 in 2011. The volume of Elmont , New York Real Estate sales realized its biggest drop from 2010, when it was 235, to 2011, when it was 189.
A closer look at the type of sales over the four year period reveals an increase in the number of Elmont, New York Real Estate foreclosures and Elmont, New York Real Estate short sales. The number of foreclosures increased from 14 in 2008 to 30 in 2011. The number of short sales increased from 1 in 2007 to 20 in 2011.
With total Elmont, New York Real Estate sales of 189 for 2011, the 30 Elmont, New York Real Estate foreclosure sale represents 15.9 % of total sales and the 20 Elmont, New York Real Estate short sales represents 10.6 % of total sales.
Elmont, New York Real Estate Median Sales Price Overview
The median sales price of Elmont, New York Homes over the 4 year period ended March 31, 2011 declined from $400,000 in 2008 to $300,000 in 2011 for a decrease of 25 %. The median sales price has been decreasing year to year from 2008 to 2010. The median sales price levelled off at $300,000 from 2010 to 2011.
The growth in volume of Elmont, New York Real Estate foreclosures, short sales and the economic downturn have been elements in declining median sales prices. The median sales price of Elmont, New York Real Estate foreclosures decreased from $355,000 in 2008 to $217,450 in 2011. The first Elmont, New York Real Estate short sale sold data was available in 2008. The Elmont, New York Real Estate short sale median sales price decreased from $350,000 in 2008 to $280,000 in 2011.
Elmont, New York Real Estate Days on Market Overview
The Elmont, New York Real Estate days on market decreased from 95 days in 2008 to 71 days in 2011.
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Patrick White, IMSD, e-Pro, RSPS, SFR, SRES, Realtor
Licensed Real Estate Broker
Home Driven Realty Inc
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