Hempstead, New York Real Estate Trends-First Quarter Report March 31, 2011

Hempstead, New York Real Estate

Hempstead, New York 11550

The Hempstead, New York Real Estate Trends-First Quarter Report March 31, 2011 covers Hempstead, New York Real Estate market activity, year to year, for the 4 year period ended March 31, 2011.

The report focuses on the number of Hempstead, New York Real Estate homes sold, the median sales price and median days on market with particular attention to foreclosure and short sale data. For the years indicated the periods covered are as indicated in the following table. 

The Village of Hempstead is located in the Town of Hempstead. It is referred to as Hempstead Village to distinguish it from the Town of Hempstead.  In addition to being the seat of government for the Town of Hempstead, the Village of Hempstead is also the most populous in the state of New York.

Hempstead, New York Real Estate Number of Homes Sold

The total number of Hempstead, New York Real Estate homes sold for the four year period ended March 31, 2011 increased from 191 in 2008 to 192 in 2011. The volume of Hempstead , New York Real Estate sales realized its biggest drop from 2008, when it was 191, to 2009, when it was 137. The home sales volume decreased from 2010 thru 2011.

A closer look at the type of sales over the four year period reveals an increase in the number of Hempstead, New York Real Estate foreclosures and Hempstead, New York Real Estate short sales. The number of foreclosures increased from 17 in 2008 to 71 in 2011. The number of short sales increased from zero in 2008 to 30 in 2011.

With total Hempstead, New York Real Estate sales of 192 for 2011, the 71 Hempstead, New York Real Estate foreclosure sale represents 37 % of total sales and the 30 Hempstead, New York Real Estate short sales represents 15.6 % of total sales. 

Hempstead, New York Real Estate Median Sales Price Overview

The median sales price of Hempstead, New York Homes over the 4 year period ended March 31, 2011 declined from $375,000 in 2008 to $207,875 in 2011 for a decrease of 44.6 %. The median sales price has been decreasing year to year from 2008 to 2010. There was an increase in median sales price from 2010 to 2011.

The growth in volume of Hempstead, New York Real Estate foreclosures, short sales and the economic downturn have been elements in declining median sales prices. The median sales price of Hempstead, New York Real Estate foreclosures decreased from $280, 111 in 2008 to $130,000 in 2011. The first Hempstead, New York Real Estate short sale sold data was available in 2009. The Hempstead, New York Real Estate short sale median sales price decreased from $220,940 in 2009 to $203,000 in 2011.

Hempstead, New York Real Estate Days on Market Overview

The Hempstead, New York Real Estate days on market decreased from 90 days in 2008 to 79 days in 2011. The days on market remained the same from 79 in 2010 to 79 in 2011.