Tight enough that I would prepare for speed, but still selective enough to reward patience on the wrong listings.
If you are trying to figure out whether this market is too competitive to enter, I would not call it easy, but I would not call it impossible either. In Syosset, NY, the strongest homes were clearly moving fast, and that is the part I would plan around first.
Over the previous 30 days, Syosset, NY had 2 months of supply, 15 closed sales, and a typical sale timeline of 15 days. Recent offers reached 102.1% of asking, which supports the view that attractive homes were still getting strong terms. At the same time, there were 38 active listings at month end, and those homes were taking about 99 days to move. That tells me the market was competitive, but not uniformly so. Buyers still had room to be thoughtful when the listing itself was not winning immediate traction. Prepare to act quickly on the homes that check your boxes and fit recent sold pricing. Stay more measured on the homes that have already lingered. In Syosset, NY, I would let the listing's position tell you whether to press or wait.
About Anthony Robinson
Anthony Robinson is a licensed Real Estate Professional affiliated with RE/MAX Team, specializing in the Syosset market. With a focus on strategic marketing and deep local knowledge, Anthony Robinson provides clients with expert guidance in navigating complex real estate transactions. View full profile →
