Ronkonkoma reached its peak during the 4th-quarter of 2005 when the average high sales price was $393,000. As 2009 ended, the average sales price in Ronkonkoma was $310,000 while the median sales price during 2009 was $311,000 - a decline of 21 percent. This is consistent with many of the surrounding area's of Suffolk County. According to recent data, 11 percent of the homes in this market are in default as of 02/2010.
During the 1st-quarter of 2010, the average sale price had remained level at $311,000 while the median price dropped to $290,000; the drop in the median sales price suggest that there were many more at the lower end of the price range.
Moving forward, we see that the available inventory (homes listed for-sale) is declining which is reducing the downward pressure in pricing.
As you can see, the median listing price is beginning to move upward while the number of homes listed for sale remains relatively flat. The Ronkonkoma market should have a stronger than average 2nd-qtr, bolstered by the first time home buyers tax credit.
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