Nanuet Homes and Condos

Better Homes & Garden Rand Realty. Michael Truiano 845-480-2366, Nanuet NY 10954

Nanuet Condos First Quarter 2011 Market Statistics

The first quarter of 2011 has come and gone.  It’s a perfect time to look back on real estate activity in the Nanuet condo market and assess where we are.  15 Nanuet condos and town houses sold and closed from January 1st 2011 through March 31st 2011.  This is slightly down from the first quarter 2010 when 19 units sold in Nanuet.  However, we need to account for the 2010 first time home buyer tax credit that enticed some buyers into the market that may not have purchased otherwise.  Here’s a snapshot of all the Nanuet condos and town houses that sold in the first quarter 2011.  We can see what they were asking vs what they actually sold for.  We can also see the real estate property taxes and monthly homeowners association fees for maintenance.  The most important statistic shown below is the “SP$/LP$” column.   This is the sales price to list price ratio.  When I meet with a potential buyer for the first time I always want to educate them about trends and norms with how much of a discount they can realistically expect on a well priced listing. As you can see below even the least expensive Nanuet condo still sold for nearly 90 percent of asking price.  At the top end,  78 Timberline actually sold for 104% of asking price.  Why might someone pay above asking price in a buyer’s market?  As odd as it may sound a well priced home will still receive multiple offers which could potentially drive up value.

nanuet condos sold in the first quarter 2011

As you can see we are not Florida, we are not California and we are not Las Vegas.  We are Rockland County and we remain strong.  It may be a buyer’s market but an unaware buyer that expects to purchase a home in Nanuet for a 25 percent discount will have a frustrating home buying experience.  Of course, this assumes the home is priced correctly for the market and property condition.  Search our website for all Nanuet condos for sale and if you find one you love we will help you determine if it is priced correctly and what type of offers will be accepted while still getting the best deal possible.

**complexes from table above include the Hamlets: (Timeberline, Vista, Eagle Ridge, Knolls East) as well as Normandy Village, New Holland Village and Tudor Hill.

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