You are currently browsing the tag archive for the ‘east end market figures’ tag.
In an unbelievable turn around from recent years, this weeks reported figures on Lis Pendens – the first step a lender takes towards foreclosure – almost equaled the sales figures for the same period.
In fact, the average mortgage entering Lis Pendens, was higher than the average sales price by nearly 10% – unfathomable even 6 months ago.
FYI, the numbers for the same week ending in 2008 were as follows:
Number of Sales ………………………..35
Total Dollar Amount………………….$54,290,313
Median Price……………………………$660,000
Average Price…………………………..$1,551,152
Number of Lis Pendens Filings……22
Total Mortgage Amount……………..$8,330,229
Median Mortgage………………………$309,519
Average Mortgage……………………..$378,647
So, while there were 6 more Lis Pendens filings in 2008, the average mortgage amount has almost doubled year over year.
# of Sales are down 40% ’09 vs ’08
Total Dollar Amount is down nearly 75% ’09 vs ’08
Average Sales Price is down nearly 60% ’09 vs ’08
It’s a whacky world we live in.
**remember, these reports are lagging indicators, months old because the major brokers in this market still refuse to employ a Multiple Listing Service on a consistent basis, which would provide more timely data.
see Telegraph.co.uk piece, based upon this post here
View Sample Reports and order online at www.LIRealEstateReport.com
or by calling 631-539-7919
The reports are interactive, allowing you to compare different quarters and see different areas of Long Island. Dollar volume for the East End was down nearly 50% 4th Qtr 2008 vs 2007…just wait until you see Feb ’09 numbers, released tomorrow…much worse. Remember that “rainy day” your mother always told you to save for???
-
East End figures
