There’s a lot of talk about a recession lately and how the odds of one are rising. If you’re wondering what that means for the housing market, here’s what the data tells us. While you may remember the price crash in 2008, that’s not the norm. Looking back all the way to 1980, home prices usually rise and mortgage rates tend to fall. If you have questions about buying or selling a home in today’s market, let’s have a conversation.
Take a look at what happened in the market last week:
Over the past week there were 28 Listings that went into contract from Westhampton to Montauk.
Compared to this same week last year (2024), there were 25 Listings that went into contract.
Which is a year over year INCREASE of 12%.
This same week in 2023, there were 16 Listings that went into contract.
Compared to this past week, it’s an INCREASE 75%.
The breakdown of these 28 Transactions are:
1 Over $20 Million
1 Between $15 and $20 Million
4 Between $5 and $10 Million
1 Between $3 and $5 Million
5 Between $2 and $3 Million
14 Between $1 and $2 Million
2 Under $1 Million
Over the past week, the Dollar Volume was $124 Million.
Compared to this same week last year (2024), the Dollar Volume was $83 Million.
Which is a year over year INCREASE of 49%.
This same week in 2023, the Dollar Volume was $44 Million.
Compared to this past week, it’s an INCREASE of 182%.
This past week there were 41 New Listings coming onto the market.
With 28 Listings going into contract, this INCREASES the inventory by 13 Listings.
The breakdown of these 41 New Listings are:
3 Over $20 Million
1 Between $10 and $15 Million
5 Between $5 and $10 Million
10 Between $3 and $5 Million
4 Between $2 and $3 Million
16 Between $1 and $2 Million
2 Under $1 Million
The overall inventory as of 4/8/2025
1,899 Total Listings (Active & In Contract)
