Take a Ride on the Baldwin NY Real Estate Roller Coaster ?

By
Real Estate Broker/Owner with Home Driven Realty, Inc

Take a Ride on the Baldwin NY Real Estate Roller Coaster ?

Baldwin NY Real Estate Trends Third Quarter 2006-2012

Baldwin NY Homes for Sale

Baldwin NY 11510

 

The local real estate markets that I've served over the past 24 years have experienced twists and turns. The ride over the period 2006 thru 2012 has been especially jarring just like taking a ride on a roller coaster. The underlying reason for this jolting ride was the United States Financial and Economic Crisis.

A Federal Reserve Bank of New York timeline of the lead up to and government responses to the crisis is provided here . Another excellent timeline is provided by the Federal Reserve Bank of St. Louis here.

The following is an analysis of Baldwin NY Real Estate for the third quarter periods 2006-2012. It will take a look at changes in residential homes sold, median sales price and days on market over the seven year period. Particular attention is paid to the twists and turns caused by Baldwin NY Foreclosures and Baldwin NY short sales.

For the years indicated the periods covered are as follows 

Year

2006

2007

2008

2009

2010

2011

2012

Period Covered

10/1/2005-9/30/2006

10/1/2006-9/30/2007

10/1/2007-9/30/2008

10/1/2008-9/30/2009

10/1/2009-9/30/2010

10/1/2010-9/30/2011

10/1/2011-9/30/2012

 

The hamlets of Baldwin and Baldwin Harbor are located in The Town of Hempstead on the south shore of Nassau County, Long Island. The two hamlets share the same zip code and school district-the Baldwin Union Free School District. North Baldwin is part of the hamlet of Baldwin. For the purposes of this report, the North Baldwin section of Baldwin will be analyzed separately. Residents consider themselves part of the same community, Baldwin.

 

Baldwin Graphs

 

Baldwin, New York Real Estate Number of Homes Sold

The total number of Baldwin, New York Real Estate homes sold for the seven year period ended September 30, 2012 decreased from 308 in 2006 to 149 in 2012, a decrease of 51.6 %. The volume of Baldwin , New York Real Estate sales realized its biggest year to year decrease from 2006 when it was 308, to 2007 when it was 239, a decrease of 22.4 %. The lowest number of Baldwin NY homes sold was 126 in 2008. 2010 sales were spurred by the ending of the First Time Homebuyer Credit .

 

Baldwin Graphs

 

A closer look at the type of sales over the seven year period reveals an increase in the number of Baldwin , New York Real Estate foreclosures and increase in Baldwin , New York Real Estate short sales. The number of Baldwin NY foreclosures increased from 2 in 2006 to a high of 17 in 2009. Foreclosures showed a consistent decline in following years. The number of Baldwin NY short sales increased from 0 in 2006 to 19 in 2012.

 

Baldwin Graphs

 

Baldwin Photos

 

The effect of the financial crisis on Baldwin Real Estate is manifested in the number of foreclosures and short sales as a percentage of total sales for the period 2006 to 2012.

For the purpose of the calculation the number of foreclodures and short sales are being added together into a distressed sale figure..

Distressed sale is being defined as " the sale of real property creating urgency on the part of the seller such as an impending foreclosure or short sale" .

 

Baldwin Graphs

The impact of distressed properties on the Baldwin NY Real Estate market has increased from 1 % of total sales in 2006 to a high of 19 % in 2011. Foreclosure and short sales remained a signigant sold type in 2012 with a percentage of 17 %.

 

 

Baldwin Photos

 

 

Baldwin, New York Real Estate Median Sales Price Overview

The median sales price of Baldwin, New York Homes over the 7 year period ended September 30, 2012 decreased from $430,000 in 2006 to $311,984 in 2012. This represented an overall decrease of 27.4 %. Baldwin NY median sales price reached its lowest value in 2012 at $311,984.

 

Baldwin Graphs

 

The decrease in median sales price of conventional, foreclosure and short sales and the Financial and Economic Crisis are primary elements in decreasing overall median sales prices. The median sales price of Baldwin , New York Real Estate foreclosures decreased from $339,500 in 2006 to $205,500 in 2012. The Baldwin , New York Real Estate short sale median sales price decreased from $432,000 in 2008 to $278,100 in 2012

 

Baldwin Graphs

 

 

Baldwin, New York Real Estate Days on Market Overview

The Baldwin , New York Real Estate days on market increased from 57 days in 2006 to 111 days in 2012.

Baldwin Graphs

 

real estate recovery
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.
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Data Source: Multiple Listing Service of Long Island

Information deemed Relable but not Guaranteed.

All photos and written content were produced by Patrick White. All Rights Reserved. This content may not be reproduced or reprinted, except for Active Rain Re-blogging, without express written  permission of Patrick White, REALTOR®, Home Driven Realty, Inc., Baldwin, New York.

Patrick White, IMSD, e-Pro, RSPS, SFR, SRES, Realtor
Licensed Real Estate Broker

Certified HUD Foreclosure Broker
Home Driven Realty Inc
www.HomeDrivenRealty.com

mailto://Pat@HomeDrivenRealty.com

www.Facebook.com/HomeDrivenRealtyInc


Twitterhttp://twitter.com/#!/BaldwinLI

Mobile Telephone: 917 533-8475
Fax: 516 867-6476

 

 

 

 

 

 

 

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Rainmaker
95,149
Lorraine Santirosa
#1 San Diego Military Relocation Expert!
Keller Williams - San Diego Metro

Hi Patrick,

Thanks for providing great stats and being an expert on Baldwin NY Real Estate.

October 08, 2012 06:17 PM
Rainmaker
677,016
Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Evening Lorraine

Thanks for the comments. Have a great day

October 08, 2012 06:28 PM
Rainmaker
151,233
Tanya Van Blake-Coleman
Improving the Quality of Your Life
Van Blake-Coleman Realty, St. Thomas/www.talk-to-Tanya.com

Wow, what a ride on that roller coaster.  The buyers and sellers in Baldwin, NY should bring their business to you as the resident expert.

October 08, 2012 08:42 PM
Ambassador
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Jennifer Fivelsdal
Mid Hudson Valley real estate connection
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571

Patrick you gave a nice overview of the effect of the financial crisis on the Baldwin real estate market.  The distressed sales seem to be slightly down I hope this continues for the rest of the yaer.

October 08, 2012 10:21 PM
Rainmaker
494,150
C. Lloyd McKenzie
MBA - Prudential Allstar Realtors -
Prudential Allstar Realtors

Good Evening Patrick:

Excellent post on Baldwin.  You did a great showing the effect of the financial crisis on Baldwin.  Good Luck in that contest

October 08, 2012 10:30 PM
Ambassador
736,674
Jerry Newman
Texas REALTOR, San Antonio Military Relocation
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com

Hi Patrick It might be awhile before Baldwin gets back to the way it was in 2006, but your market is improving for the better. Have a Great Day!

October 09, 2012 09:27 AM
Rainmaker
677,016
Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Afternoon Van

Thanks for the comments. Have a great week

October 09, 2012 11:04 AM
Rainmaker
677,016
Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Afternoon Jennifer

Thanks for the comments. Baldwin has comparatively less foreclosures and short sales than some of the other markets I saerve. Hoping for a market bottom very soon. Have an outstanding week

October 09, 2012 11:08 AM
Rainmaker
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Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Afternoon Lloyd

Thanks for the comments. Have a great week

October 09, 2012 11:13 AM
Rainmaker
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Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Afternoon Jerry

I hope the market bottoms out by the first quarter of 2013. Thanks for your comments. Have a great week

October 09, 2012 11:18 AM
Rainmaker
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Roy Kelley
Roy and Dolores Kelley Photographs
Retired Real Estate Broker, Maryland Blogger

Good report, Patrick.

Have a most productive October as home buyers take advantage of the attractive prices and the record low mortgage interest rates.

October 09, 2012 12:44 PM
Rainmaker
677,016
Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Evening Roy

Thanks for the comments. Have a great week

October 09, 2012 02:36 PM
Rainmaker
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Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

Thanks for the post in regard to your real estate market. I enjoyed reading it today.

October 10, 2012 11:43 AM
Rainmaker
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Patrick White
Put our 28 years experience and technolgy to work
Home Driven Realty, Inc

Good Afternoon Carla

Thanks for the comments. Have a great day

October 10, 2012 02:36 PM
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Patrick White

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