HomeGain Releases 3rd Qtr New York Home Prices Survey

Posted by: Louis Cammarosano on August 26th, 2009

On Monday, HomeGain, the first website to provide free instant home values, released the national and regional results of our  home prices survey of 1,084 current and former HomeGain members. The survey asked their opinions on home prices and what they thought of Barack Obama’s performance as President. On the HomeGain real estate blog we published the complete national and regional third quarter results.

Earlier this week we published the results of the California home prices, Texas home prices and Florida home prices surveys.

Today we published the Massachusettes home prices survey data and today we are also releasing the New York home prices survey data.

The New York survey data shows an increase in home owners’ pricing expectations with 42% of New York home owners believing their homes should be priced 10-20% higher than their Realtors’ recommended listing price vs. 36% who thought the same in the second quarter New York home prices survey. (see question 2).

Conversely,  New York home buyers saw homes  as less fairly valued in the third quarter than they did in the second quarter with only 14% of home buyers in the Empire State believing homes were fairly valued vs. 21% who so believed in the second quarter. ( see question 3)

An increasing percentage of New York Realtors believe that home prices will decrease in the next six months. Thirty-three percent of New York Realtors surveyed thought home values would decrease in the coming six months vs. 24% who thought the same in the second quarter survey. (see question 6)

Fifty percent New York Realtors approve of Obama’s performance as President (vs. 42% nationally). Obama’s current approval rating in New York is down from 54% in the second quarter.

Set forth below is the first, second and third quarter  New York home prices data with the national data in parenthesis:

1. On average, in the last year do you think your homeowner clients home values have:


Decreased: 72%/85%/79% (81%/84%/90%)

Increased: 7%/3%/20% (6%/3%/2%)

Stay the same: 21%/12%/0% (13%/12%/8%)

2. On average, what do your homeowner clients believe that their home is worth?


10-20% higher: 42%/36%/46% (38%/35%/45%)

10-20% less: 9%/12%/6% (5%/8%/10%)

1-9% higher: 26%/24%/* (25%/24%/*)

1-9% less: 7%/6%/4% (7%/9%/*)

21-30% higher: 5%/12%/21% (8%/8%/14%)

21-30% less: 5%/12%/* (2%/3%/*)

At listing price you recommend: 7%/9%/21% (11%/10%/14%)

More than 30% higher: 0%/0%/8% (3%/2%/4%)

More than 30% less: 0%/0%/0% (1%/2%/1%)

3. How do your home buyer clients feel that homes for sale are priced?


Fairly priced: 14%/21%/16% (20%/19%/18%)

Overpriced by 10-20%: 47%/24%/33% (30%/30%/32%)

Overpriced by 21%+: 7%/6%/4% (4%/4%/10%)

Overpriced by less than 10%: 28%/21%/21% (30%/29%/21%)

Underpriced by 10-20%: 2%/15%/21% (8%/8%/14%)

Underpriced by 21-30%: 2%/6%/4% (2%/1%/2%)

Underpriced by 31%+: 0%/0%/0% (1%/1%/2%)

Underpriced by less than 10%: 0%/12%/0% (5%/5%/5%)

4. What is the average difference in price between what sellers believe their home to be worth and the amount at which you eventually list the house?


Greater than 11-20%: 5%/9% (5%/7%)

Greater than 21%: 5%/0% (3%/3%)

Greater than 5-10%: 7%/15% (9%/10%)

Less than 11-20%: 30%/21% (24%/23%)

Less than 21-30%: 5%/6% ((4%/5%)

Less than 5-10%: 42%/42% (43%/43%)

Little or no difference in price: 7%/6% (12%/8%)

5. What is the average difference in price between what the home is listed at and what the home sells for?


Greater than 5-10%: 2%/6% (5%/5%)

Greater than 11-20%: 5%/0% (4%/4%)

Greater than 21%: 2%/0% (2%/2%)

Less than 11-20%: 28%/27% (24%/27%)

Less than 21-30%: 2%/0% (3%/4%)

Less than 5-10%: 49%/55% (54%/53%)

Little or no difference in price: 12%/9% (8%/5%)

6. In the next six months, do you think the values of homes in your market will:

Decrease: 33%/24%/67% (31%/29%/53%)

Increase: 23%/36%/12% (23%/22%/11%)

Stay the same: 44%/39%/21% (46%/49%/36%)

7. What percent of homes in your area are foreclosures?


Less than 10%: 65%/42%/66% (36%/26%/37%)

10%-20%: 26%/21%/25% (27%/15%/26%)

21%-30%: 7%/6%/0% (17%/12%/16%)

31%-50%: 2%/15%/0% (13%/7%/15%)

51%-75%: 0%/6%/4% (5%/3%/5%)

75%: 0%/9%/0% (2%/3%/2%)

8. What is the average home price in your area?


$151K-$300K: 21%/58%/32% (52%/56%/59%)

$301K-$500K: 42%/24%/33% (21%/20%/21%)

$501K-$800K: 16%/3%/23% (7%/5%/6%)

$801K+: 2%/0%/0% (2%/3%/2%)

Less than $150K: 19%/15%/12% (18%/16%/11%)

9. How do you think Barack Obama is performing in his role as President?


Somewhat approve – 38%/33% (21%/31%)

Somewhat disapprove – 33%/21% (19%/19%)

Strongly approve – 12%/21% (20%/26%)

Strongly disapprove – 17%/24% (40%/24%)

* Data not available

See National and Regional Survey Results

Try the HomeGain instant home prices tool.

Check New York home prices

New York home values

Brooklyn home values

Bronx home values

Queens home values

Staten Island home values

Buffalo home values

Rochester home values

Yonkers home values

Syracuse home values

Albany home values

New Rochelle home values

Mount Vernon home values

Schenectady home values

Utica home values

Scarsdale home values

Chappaqua home values

Bronxville home values

Manhasset home values

Brooklyn homes for sale

Brooklyn real estate

View New York Homes for Sale

Search New York real estate

Find U.S. homes for sale and search U.S. real estate

Join the Brooklyn Real estate market discussion on HomeGain Nation

HomeGain.com real estate home values survey results are based on responses of over 1,150 Realtors in the United States. State survey results for Q2 are available for the following states :Texas home prices survey, Florida home prices survey, California home prices survey, New York home prices survey, New Jersey home prices survey, Georgia home prices survey, Arizona home prices survey, North Carolina home prices survey ,Virginia home prices survey , Massachusetts home prices survey ,Washington home prices survey,Colorado home prices survey

Louis Cammarosano




Leave a Comment


For Real Estate Agents

Online Marekting Solutions

For Home Buyers and Sellers

e.g., 1250 S Main St, Burbank, CA or 91506
     Search Foreclosures    Search New Homes    Search Rentals    

Blog Categories

Blog Archives

Real Estate Blogs

Top Articles

Recent Comments

Guaranteed LeadsReferral Lead ProgramListings PackageVisits to your WebsiteFind REALTOR®Homes For SaleHome Values