- Residential median home sale prices increased from $843,250 to $870,000
- Condo median home sale prices increased from $432,500 to $475,000
- Co-Op median homes sale prices decreased from $260,000 to $232,500
If you’re looking to buy a Condo in Great Neck, you also may have missed the rock bottom prices because their has been a significant increase over the last 12 months, however, the interest rates are still very low and that makes it a GREAT time to buy no matter what!
If you’re looking to buy a Co-Op in Great Neck, now is a PERFECT time! The rates are low and Coop prices are lower than they were last year, and even 2 years ago. My advice is to get pre-approved and start your house hunt before the prices start going up.
If you are a Great Neck Residential (Single/Multi-Family) home owner, you may be in a better position than you were this time last year. Therefore, you should request & review a Comparative Market Analysis to see exactly what your home is worth and where it stands in today’s market. If your home is worth a good deal more, it may be a good time to sell because prices are expected to remain pretty stable throughout 2012.
Regardless of your situation, you may have experienced an increase/decrease in your home’s value. So, it is important that you review a Comparative Market Analysis regularly to see what your home is worth on a month-to-month basis.