Is it a sellers market in 2024? Yes, the Long Island housing market remains firmly in a seller's market. Several factors contribute to this, including limited housing inventory and strong demand, particularly in areas like Nassau and Suffolk counties. The average home prices have continued to rise, with some areas experiencing double-digit increases from the previous year. This has led to competitive bidding situations, where homes often sell above the asking price.
While there are predictions of some moderation in pricing as interest rates potentially decrease later in the year, the overall trend suggests that sellers still have the upper hand.
Are you thinking of selling cashing in on your ROI? Let’s discuss your options today.
