May 1, 2022 Real Estate Update-Middle Village, NY

Middle Village and surrounding areas. Home sales have slowed down. The market is flooded with himes. Most homes are not oriced correctly. The asking prices need to be modified downward by 5% minimum Im doing this for 43 years now and have appraised over 4,000 homes to date. Between pitential Recession on the horizon and too many homes on the market, adjustments need to be made. If you want to sell thus year. Mirtgage rates higher than three months ago, so with so many homes on the market, prices need to cone down to be competitive. Agents/ Brokers cant go by comps alone, improvements on recent sales must be considered James Turano/ Broker Middle Village, NY 347-837-9206