Before I begin looking at the overall Suffolk County market, I want to add that Suffolk County is made up of many smaller markets and the overall statistics don't apply to each area. Many markets in Suffolk are doing well, others not so much.

The sold property count chart shows that it hasn't been the best of years here in Suffolk. Eleven of the past twelve months have seen the property sold count reduced from the year before. On the plus side the percentage reduction has declined each of those 12 months until in June 2012 we saw a net gain for the first time. It would seem as though we may have hit a bottom, switching over to the average price of the sold homes we see the opposite of the national trend. Nationally while sales have been down, prices have been up. In Suffolk we have a more classic pattern of reduced sales and prices. Unfortunately the price declines are still rather steep.

As I said before these statistics may not apply to your perticular local market, but if they do you have to put your best foot forward if you are a seller. You need an agent that can precisely price, and aggresively market your home. In short you need a marketer and not a salesperson. Everything about your listing needs to stand out, no crummy pictures, no lackluster descriptions, proper staging, proper pricing, powerful incentives to buyer's and broker's agents. Homes are selling, and yours can too, but you need to do your homework and get the best agent possible. If you don't have the time or inclination to work at finding a great agent; there is always the next bull housing market.

Buyer's you are in luck! Interest rates are historically low and prices aren't near recovering. Get a buyer's agent, tell them what you need and turn them loose. You maybe able to afford areas that in years past were out of your price range. Investors, with rental vacancies near all time lows, and interest rates at their lows, now is a great time to pick up that investment property you've been considering.

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