Babylon NY Sold Homes Prices For 2008 Thru April 2010
2008 was a great year wasn't it?
Sold prices dropped 13.24% in 2009 compared to 2008.
Sold Prices increased 1.36% so far for 2010 compared to 2009. Ok, it's not a lot but it's a start.
I am seeing many Babylon listings expiring in the upper 500K and over range. Why? Due to job losses across Long Island, that buyer pool that normally could afford that price range 3-5 years ago, cannot at this point. That buyer pool has been reduced.
What do you do if you want to sell your home? You have choices:
- You can reduce the price to market value in order for it to sell. In your eyes, that would be giving away your home and I understand that. But market value is determined by how much a buyer is willing to pay. Buyers are educated. They know what is market value and what is not.
- Leave it off the market until you see signs that it's a seller's market.
It is what it is folks. Either list your home at market value or wait.
Below is a month to month chart for Average Sold Prices during 2009 for Babylon:
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