Nicholas Amato
Licensed Real Estate Salesperson
The Corcoran Group
(516) 514-0088
I’m finding that buyers are approaching the market with more patience and focus this October. While my team is currently working with a surge of buyers, many of them are taking their time to find the right home rather than rushing into an offer. The busiest time for families with children usually occurs at the beginning of the school year, when parents want to get their kids registered and settled. Now, with that behind us and interest rates showing signs of easing, we’re seeing more buyers enter the market – but they remain thoughtful and deliberate in their decisions. On the sellers’ side, inventory has been increasing, and that naturally brings some adjustments in expectations. A well-priced property still sells quickly, often with multiple offers, but instead of the 10+ offers we might have seen during peak times, we’re seeing a more manageable handful. Sellers who price their homes competitively continue to achieve strong results, while others are making price adjustments to stay aligned with current conditions.
Tanya Fuchs
Associate Real Estate Broker
Sotheby’s International Realty
tanya.fuchs@sothebysrealty.com
(631) 478-8546
As October quickly approaches and the leaves on the South Shore start to turn, the real estate market often reflects a unique balance of motivations and goals from both buyers and sellers. For many sellers, fall is typically a period of adjustment after the high-energy summer market. Homes that remain on the market after such a prime season often prompt owners to revisit
pricing, or in some cases, marketing strategies, making them more susceptible to serious buyers. On the buyer’s side, however, there is an instinctive desire to be in a new home before the holiday season, whether to host family parties and events, establish daily routines, or the very thought of a fresh start before the new year is very appealing. This creates a sense of urgency that can drive more focused decision-making. The result is a marketplace where motivated buyers meet motivated sellers, often leading to well-aligned transactions. In this way, October can be an advantageous time in the real estate market for both sides to achieve their ultimate goals.
Linda Kerr
Licensed Real Estate Agent
Ramsay Realtors
LindaKerr@ericramsay.com
(631) 848-6046
As October arrives on the South Shore, the real estate market shifts from the fast pace of summer into a season that feels more focused and intentional. Many buyers are drawn to the idea of newness after the hectic summer. Visions of hosting Thanksgiving or celebrating the holidays in a new space often create a sense of urgency, particularly when considering the timing. Buyers who are still searching at this time of year tend to be serious, motivated, and less likely to wait until spring to make a move. At the same time, fall brings a different mindset for sellers. Homes that were priced aggressively during the summer may have lingered on the market, and October is when many sellers begin to adjust expectations. Price reductions or small improvements, paired with the charm of fall curb appeal, can make a big difference in attracting the right buyer. Overall, the fall market is about compromise and finding a middle ground. Buyers are motivated, and sellers who remain realistic with pricing and presentation are well-positioned to succeed. While not as busy as spring or summer, October offers unique opportunities for both sides to make a move before the year ends.
MaryAnn Rainone
Licensed Real Estate Salesperson
Netter Real Estate
(631) 553-0263
In reference to Q2 indicators in Suffolk County, the median price of single-family homes cooled slightly due to affordability challenges, which slowed overall market activity. Mortgage rates hovered between 6.5% and 7% during the spring, yet closed
sales of single-family homes continued to rise. First-time buyers are feeling the squeeze of both higher rates and rising prices. The median closed sales price of single-family homes now stands at $689,000 – a hefty amount for many first-time homebuyers. For those seeking alternative ways to enter the market, condos and co-ops present more affordable opportunities. The median sales price for condos increased 11.3% to $512,000, while the median sales price for co-ops rose 4.2% to $271,000. The current window of opportunity is to purchase before rates begin to decline. Once they do, the buyer pool will expand, competition will intensify, and many buyers may find themselves facing challenges.
