Own a home? That used to be good news - not so good today. SWRWeekly.com's "SWR Real Estate Sales" report for the last 12 months has been released -
It shows detailed sales from March 2011 to March 2012. The Last 12 months had 93 Sales in Wading River and 46 Shoreham. The report is sorted by price for convenience. In Shoreham property sales ranged from $112,000 to $1,475,000 and in Wading River from 35,000 to $2,110,000(Note the $2.1m sale was a hotel on Route 25)
2010 to 2011 median home sale price stats are as follows:
64 Properties Closed at a median price of: $410,000
71 Properties closed at a median price of: $375,000
SWR is down about 15% in property value from 2010 to 2011 closed sales
Rose Marie Princi of Shoreham's Coldwell Banker Distinctive homes , who helped with this report offered this advice for sellers - "Now more than ever - PRICE IT RIGHT --- I don't see it getting better anytime soon, however I have seen well maintained homes sell in one day that are priced right."
She added: "I don't think we have hit bottom - Short sales are not even selling - Banks are now making it easy but liquidity of the buyer is tough."
