Author Kaya Homes - Real Estate Marketplace Long Island, NY

East Rockaway: 2024’s Real Estate Hotspot

Contents An Overview of East Rockaway Homes for Sale Relocation Trends: East Rockaway Attracts Homebuyers Housing Supply and Demand: A Balanced Market Days on Market: A Faster Selling Environment Climate’s Impact on East Rockaway Housing Conclusion Imagine a nice beach town on Long Island with cute houses and friendly neighbors, plus a booming real estate market. That’s what you’ll feel while residing in East Rockaway. This little area has grown to be the leading choice of people eyeing a house to buy in 2024. Why? It gives you the small-town coziness with the convenience you need close by. And, if you ever wanted to live by the water, beautiful houses for sale in East Rockaway await. Let’s check out what makes East Rockaway such a great area to live in! An Overview of East Rockaway Homes for Sale The housing market in East Rockaway has steadily trended upwards; the average price per home sale was $633,000 as of March 2024. It has dipped by 10.9% when compared to the previous year. However, this slight decline in prices has not affected the demand for them since the market continues to be very active. Currently, there are many homeowners selling homes for sale in East Rockaway for around 4% higher than the asking price and going pending in 17 days. In the last 3 months, a home has been sold at 1% below the list price and went pending in about 41 days, affirming the current strong market. Relocation Trends: East Rockaway Attracts Homebuyers The properties offered by East Rockaway real estate are not limited to the residents only, as more and more people are searching for homes for sale in this town. Based on the information gathered, 3% of home buyers searched to buy homes to move to East Rockaway from other metros and the three most sought-after metros were Peoria, Walla Walla, and Lincoln. Notably, 69% of the buyers looking for homes for sale in East Rockaway carried out their search to purchase homes in the East Rockaway metropolitan region. Housing Supply and Demand: A Balanced Market The availability of homes for sale in East Rockaway, NY has not seen extreme variations in supply and demand. There were 53 homes for sale in January 2024, showing an increase of 3.9% from the previous month. The inventory by bedroom type has also shown some changes; 2 bedrooms have been reduced by 27.3%, while the price of 3-, 4-, and 5+-bedroom homes all experienced increases ranging from 14.3% to 15.4%. From the sales perspective, the number of homes sold in East Rockaway decreased by 20% from December 2023 to January 2024, Among them, 50% were sold below the asking price and the remaining were sold over the asking price. Days on Market: A Faster Selling Environment The most prominent trend in the real estate market of East Rockaway, NY, is a dropping average sale time. As of January 2024, the days on the market for homes in East Rockaway averaged 29 days, showing a decline of 56% from last year. This quicker selling environment is further supported by the fact that of the homes sold in January 2024, 75% were under contract within 30 days, with 25% remaining selling within 30 to 90 days. Climate’s Impact on East Rockaway Housing As good as these statistics are for the East Rockaway homes for sale market, it is necessary to keep in mind possible natural hazards or environmental risks that can occur. Events such as floods, fires, wind, and heat may all be continuous variables of the long-term viability of a housing market. Homebuyers and investors should research the risk factors surrounding the localities and consider what this could do to their investment. Conclusion 2024 has proven to be the real estate jackpot for East Rockaway, as it became the most opportune time when homebuyers could afford to put their investments forward in a growing coastal community. Sporting a competitive market, robust relocation trends, and enhanced pricing, East Rockaway ticks all the boxes for people looking for small-town charm with modern amenities. With the town still carving its way through to the consciousness of buyers from all over the country, East Rockaway shall continue being in demand for years to come. By knowing how the real estate trends may be waiting up ahead for the market, smart homebuyers or investors can take advantage of opportunities in this coastal beauty during 2024. Don’t let this chance slip through your fingers! Contact Kaya Homes today to view East Rockaway homes for sale, or to discuss selling your existing property. Allow us to help you understand the market and find the perfect home that fits your budget and needs.

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If you want to buy or sell a home in 2024, it’s important to understand what’s happening in the housing market right now. You should know why you want to do it and get help from experts in the field to make your dream of owning a home in the new year clear.In the past year, the economy affected the housing market a lot, and it probably affected your money too. That’s why it’s really important to not only know about the market today. But also to have a clear idea of what you want when you’re buying or selling a home. Danielle Hale, who is the Chief Economist at Realtor.com, says: “The key to making a good decision in this challenging housing market is to focus very clearly on what you need now and in the future. This way, you can stay in your home long enough for buying to be a smart financial choice.” As you set your goals for 2024, here are a few things to think about. 1. Know Your Why You’re thinking about moving for a reason – what is it? Despite what’s happening in the market, there are still many good reasons to buy a home now. Maybe your needs have changed, and your current house doesn’t meet them anymore. Or perhaps you’re ready to become a homeowner for the first time. Whatever your reason, use it as a guide, along with the help of a knowledgeable advisor, to make sure your move brings you a sense of achievement that lasts. 2. Figure Out What Your Next Home Needs To Look Like You’re ready to move, but what does your ideal home look like? There are more homes available for sale lately, which means you might have more choices when you’re buying. However, the overall number of homes on the market is still lower than usual, so it’s important to team up with a professional to locate what you’re searching for. Just remember to stick to your budget as you consider your preferences and necessities. The more you know about what’s crucial and where you can be flexible, the simpler it will be to find a home that suits you well. 3. Determine if You’re Ready To Buy Before you go too deep into the home-buying process, it’s crucial to have a clear understanding of your budget and available savings. Working with a local agent and a lender from the beginning is the best way to ensure you’re in a good position to make a purchase. This involves figuring out how much to save for a down payment, getting pre-approved for a home loan, and evaluating the equity in your current home if you’re planning to sell it. A Professional Will Guide You Through Every Step of the Process Buying or selling a home can be complicated, and it’s normal to feel a bit overwhelmed. But don’t let uncertainty stop you from reaching your goals this year. A trusted expert can guide you through the process, providing you with the necessary facts and advice about today’s housing market to help you make informed decisions. Bottom Line Let’s get in touch to strategize and turn your dreams of homeownership into a reality in 2024. Find out why Kaya Homes is the leader in Long Island Real Estate and are your go-to realtor in the Lynbrook, Oceanside, Malverne, Hewlett, Valley Stream, East Rockaway, Woodmere, Cedarhurst, Baldwin, North Woodmere, Woodsburgh, Hewlett Neck Hewlett Harbor, Bellmore,Wantagh,Merrick and Freeport area. Written by Kayahomesny on January 30, 2024. Posted in BlogTags: #HousingMarket, #HousingShortage, #LowInventory, #PropertyListings, #RealEstateAdvice, #RealEstateMarket Trackback from your site.

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Author: kayahomesny