New Downward Trend in Contracts for Shelter Island Real Estate Market

Over the last 30 days, the Shelter Island market had a decrease in home sales with one. Furthermore, the amount of pending transactions continued to decline, with a total of zero contracts during the same period. The median sales price dropped dramatically to $375,000, down from last week's $774,000. Shelter Island is a definite buyer's market, due to a downward trend in contracts numbers and eight months of inventory remaining.

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Demographic facts about Shelter Island:

  • The median value of all homes in the area is $730,600.
  • The area gets 105 rainy days a year. (U.S. average: 100)
  • This area has an unemployment rate of 7.0%.
  • For every teacher there are 8.2 students in this area. (15.3 = national average)

Data reported through 10/19/2016

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