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Levittown Real Estate Market Shows Signs of a Rebound

Rising housing prices hints towards a recovery in housing market.

Home prices are up over the past year. Credit: Trulia.com
Home prices are up over the past year. Credit: Trulia.com
If you bought a Levittown home in 2007-08 and have watched the price of your home drop, there is finally some good news to speak of.

The median sales price for a home in Levittown currently sits at $330,000, up nearly 6 percent year-over-year, and up over 22 percent over the last quarter, according to Trulia. 

Levittown Real Estate Broker Susan Sanchez of HomeStart Realty Corp. said that this increase in sales price is due to a “nationwide rebound and an early recovery of the recession.”

“The housing market is improving and the number of homes sales has increased due to the mortgage interest rates being low, which entices the buyers to come out and look,” Sanchez said. The national average rate on a 30-year mortgage currently sits at just 3.29 percent, according to Zillow. 

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In Hicksville, median sales prices are up 12 percent, in Bethpage, prices are up 3.6 percent, and in Wantagh, prices are up 14.3 percent, according to Trulia.

 Nationwide, home prices rose 4.3 percent in the 12 months ending in October, according to the S&P/Case-Shiller Home Price Indices.  

Sanchez gave some tips for homeowners trying to sell, stressing that getting pricing right from the listing date is important. 

“Spring is the overall perfect time as everyone knows, but if the home is priced right…it will move quicker to the closing table,” Sanchez said.  

According to Sanchez, the average closing date is three months, and the average time for a home to sell is approximately 6 months. 

 What can you expect for 2013? Sanchez said the recovery will continue. 

“We can expect that the foundation of the economy will become stronger and more homes will be sold as the months pass,” she said. 

Susan Sanchez can be reached by phone at 516-520-6200 or by email at Susan@HomeStartRealty.com.    

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