Fresh Meadows Market Update: February 2012
The Fresh Meadows real estate market experienced a 2% increase in January. Median home sale prices, of all property types, increased from $581,000 (January 2011) to $590,000 (January 2012).
- Residential median home sale prices decreased from $610,000 to $605,000
- Condo median home sale prices decreased from $410,000 to $340,000
- Co-Op median homes sale prices decreased from $153,000 to $105,000
What this means for Fresh Meadows Home Buyers?
If you’re looking to buy a residential (single/multi-family) home in Fresh Meadows, it is still a good time to jump in. Prices are relatively stable and will likely remain that way throughout 2012 so take advantage of the low rates and buy that dream home!Fresh Meadows Condos have experienced a more significant decrease in value, therefore, it’s a GREAT time to buy a condo in Fresh Meadows!!!Fresh Meadows Co-Ops have seen a significant decrease in value as well and they continue to be a very affordable housing option. So, if you are looking into buying a Fresh Meadows Co-Op, it is VERY affordable!
What this means for Fresh Meadows Home Sellers?
GOOD NEWS, the market in general is appreciating! It is appreciating at a slow rate so make sure that you are tracking the trends in case there is another dip. The market should remain relatively stable throughout 2012 so if you’re waiting for your home’s value to go up significantly, it may take a while. The good news is that even if you lose some equity on your home sale, you will most likely gain much more on the purchase of your next home, but only if you get in while the values & rates are still this low.
If you are a Fresh Meadows Condo owner, you may have experienced a significant decreasein your home’s value so you should review a Comparitive Market Analysis to see what your home is worth now and read this blog monthly to keep up with the market and track the local trends.
If you are a Fresh Meadows Co-Op owner, you may have also experienced a decrease in your home’s value so my advice is to track the trends on a monthly basis and sell before it dips too low or sell when it rebounds.
For more Fresh Meadows real estate market information, visit: www.abigailSELLS.com – Call:718-475-2742 – or Text: 718-968-5538
Lic. RE Salesperson
Keller Williams Realty Landmark
32-55 Francis Lewis Blvd.
Bayside, NY 11358
your friend. your neighbor. your Realtor.