Astoria Market Update: March 2012
The Astoria real estate market experienced a 16% increase in February. Compared to this time last year, Median home sale prices of all property types have increased from $480,000 to $555,540.
- Residential median home sale prices increased from $662,500 to $697,500
- Condo median home sale prices decreased from $380,000 to $345,000
- Co-Op median homes sale prices increased from $235,000 to $262,000
What this means for prospective Astoria Home Buyers?
If you’re looking to buy a Residential (single/multi-family) home in Astoria, you should probably get a move on. The rates are still low and should remain there throughout 2012, however, the residential Astoria home values seem to be rising so if you wait too long, you may end up paying much more on the sale price as well as over the life of the loan.If you’re looking to buy a Condo in Astoria, now is a GREAT time to do so! The median sale price has decreased by $35K from this time last year so now would be a GREAT time to seize that opportunity. After all, it should not be that long before value of that condo begins to appreciate.If you’re looking to buy a Co-Op in Astoria, you may need to hurry up, start looking, and place an offer because if the home sale prices continue to increase, you may find yourself in the same boat as a potential residential home buyer.
What this means for Astoria Home Sellers?
If you are an Astoria Residential (Single/Multi-Family) home owner, you may be in a GREAT position to sell your home at a nice price, and take advantage of these great rates on your next home.
If you are an Astoria Condo owner, your home may have decreased in value from this time last year but you should review a Comparative Market Analysis to see exactly where your home stand in today’s local market.If you are an Astoria Co-Op owner, you also may be in a GREAT position to sell your home because the values have increased in comparison to this time last year. The appreciation, in comparison to the low rates and affordable home prices in other neighborhoods however, make for a good opportunity to move up and get a great deal!
Regardless of your situation, you may have experienced an increase in your home’s value. So, it is important that you review a Comparitive Market Analysis and stay current with local Astoria real estate market trendsregularly to see what your home is worth on a month-to-month basis.
For more Astoria real estate market information, visit: www.abigailSELLS.com – Call:718-475-2742 – or Text: 718-968-5538
This blog brought to you by Abigail Herrera
Lic. RE Salesperson | Internet Marketing Specialist | Certified Buyer Representative
your friend. your neighbor. your Realtor.