Broker Bart brings you an end of the year market report for Maspeth Queens, as well as some historical facts about the area.
| 2009 | 2010 | |
|---|---|---|
| total sales | 92 | 103 |
| average price | $487,000 | $490,000 |
| time on market | 93 days | 103 days |
Video Transcript…
Hi everyone, its Bart Olszewski. Let’s talk about Maspeth. Let’s do a market analysis for Maspeth, but let’s start with a bit of history. Maspeth was the first European settlement in Queens. This took place in the 17th century by Dutch and English settlers. The name Maspeth comes from Mespeatches Indians, one of the 13 tribes who have lived on Long Island at that time. The name means badwater and has something to do with all the swamps that we had at the time. So, that is a bit of history. Right now in Maspeth we have about 35,000 people. Let’s talk about real estate. In 2010 – the year is almost over – we had 103 sales in Maspeth. In 2009 we had 92, so more sales this year and I think that is positive. Homes are being absorbed a little bit quicker. The lowest selling price in Maspeth this year was a foreclosure that sold for $270,000 the highest price in Maspeth was a new construction 3 family home that sold for $938,000. The average price in 2010 in Maspeth was $490,000. Now, how does that relate to last year? How are prices adjusting from year to year? In 2009 the average price was $487,000. This is a positive trend! In 2010 the average home stayed on the market in Maspeth for 103 days. Last year it was slightly less, 93 days or so. Not a big difference. Overall Maspeth is doing good, real estate is stable and things are looking up. If you live in Maspeth. If you are thinking about moving to Maspeth. Either way, whether buying or selling contact me at [email protected]. Happy Holidays one more time and happy new year! I’ll talk to you soon.
FAIR HOUSING
