East Moriches, N.Y. Real Estate Market Report
The following report is based on the 3 month period ending March 31, 2020
Let us start by wishing you all health and happiness during these uncertain times.
The world is upside down and yet we must all try our best to keep moving forward, stay positive, be productive. I’m happy to be able to report that this month’s East Moriches Real Estate Market report indicates that at least for the moment the sky is not falling. Let’s focus on supply and demand as that is the rudder that steers the real estate ship. It’s not too often we see a market where neither buyer nor seller has an advantage, but that’s what the East Moriches real estate market is looking like as we take a glimpse at this three month report. In the graph below you will see that although inventory (supply) has increased by more than 7% since January, demand (buyers in the market) has also increased by almost 3% and as of March 31, 2020 we are a fairly balanced market. Will this trend continue? Only time will tell, but if you are getting ready to sell your home don’t forget to de-clutter, neaten it up, price it right and hire yourself the best real estate agents you can find!
In these reports I always ask “Is this a good time to sell your East Moriches home?” I know what you’re thinking- “Is this guy kidding me? It can’t possibly be a good time to sell we’re in the middle of a pandemic! Yes we are and these are tough, uncertain times, but there will always be people that need to buy or sell for reasons that are important to them. If you happen to be one of those people, give us a call and we will share with you how to distance yourself and your home from the competition and get sold quickly for the highest price possible. Frankly, as of this writing the average sale and listing prices have changed very little, if at all.
Market Statistics for Center Moriches, NY December 31, 2019 through March 31, 2020
New Listings– There were 13 new listings taken
Current Inventory– There are 30 single family homes on market (East Moriches Homes For Sale)
In Contract- There are 17 single family homes in contract
Closed Sales– There were 10 single family homes sold
Median Ask Price– $407,400.00
Median Sold Price – $385,000.00
Call 631-241-8168 or email me at Bill.Carroll@Corcoran.com or Letticia Lettieri at 631-879-2069 or Letticia.Lettieri@Corcoran.com with questions or to arrange a confidential comparative home value analysis
And always remember- “In Real Estate, Representation Is Everything“!