Monthly Archive February 2019

MLSLI and HGMLS Merge to Form Regional MLS

The Multiple Listing Service of Long Island, Inc. (MLSLI) and the Hudson Gateway Multiple Listing Service (HGMLS) have merged to form the New York MLS, LLC.   The new MLS will consist of approximately 40,000 real estate professionals, serving Nassau, Suffolk, Queens, Brooklyn, Manhattan, Bronx, and Westchester, Putnam, Rockland, Sullivan and Orange Counties.

Discussions began in June 2017 between leaders of the Long Island Board of Realtors®, Inc. (LIBOR) and the Hudson Gateway Association of Realtors® (HGAR) on the possibility of consolidating the aforementioned and respectively owned MLSs to form one regional MLS.  Joseph Mottola, CEO of LIBOR/MLSLI says, “The expansion of geographic boundaries will create greater opportunities for members by providing access to a larger audience of real estate professionals for consumers alike.”

A benefit of the new MLS will be the seamless flow of data for Brokers and Agents within the New York Metro area.  Richard Haggerty, CEO of HGAR and President and Chief Strategic Growth Officer of the new MLS says, “The launch of the new MLS is an exciting move in the right direction to uniting area real estate professionals, by creating the only MLS members will need.” 

Jim Speer, the Sr. Vice President of Operations for MLSLI for over 30 years, will serve as Chief Executive Officer for the new MLS.  Speer says, “With the alliance of two successful MLSs, members gain entry to a vast selection of integrated technology tools and resources which will better serve their buyers and sellers.” 

The combined strengths of MLSLI and HGMLS will enhance the local real estate market by providing the best service for the Real Estate professionals and the customers they serve.

The yet-to-be-named new regional MLS is expected to be fully operational sometime in 2019.The Manhattan Association of REALTORS® is now a chapter of Hudson Gateway Association of REALTORS® Find your new home

Long Island Board of REALTORS® Expands Services to Brooklyn

The Long Island Board of REALTORS®, Inc. (LIBOR) is pleased to announce the formation of a Brooklyn Chapter. The recent westward expansion is the result of the Board’s commitment to providing services, benefits and networking opportunities to our Brooklyn membership. The Brooklyn Chapter joins the roster of LIBOR’s already established Chapters, which span from the North and South Forks of Eastern Long Island to Western Queens.

Chapters are geographically designed to meet the unique business needs of a specific market.  They have their own elected leadership who are instrumental in determining educational programs and networking opportunities that meet the needs of those members. “The formation of the new Chapter is crucial to serving REALTORS® in the Brooklyn area, which in turn will benefit the customers they serve. Increased access for our members to LIBOR’s resources will create a greater experience for all.” said Dianne Scalza, LIBOR President.

Sal Crifasi, President of the newly formed Chapter, who was instrumental in the development, explained, “The idea of creating a new Brooklyn Chapter of LIBOR is to grow the awareness of the value of the REALTOR® brand throughout the five boroughs. With the recent MLS Regionalization between LIBOR and Hudson Gateway Association of REALTORS® (HGAR) the need for stronger professional collaboration is vital to insure our future success.  The Brooklyn Chapter is a start.”

“The addition of a Brooklyn Chapter is an essential part of LIBOR’s strategic growth plan.  REALTORS® working in the Brooklyn community will now be empowered to take advantage of new business opportunities by getting involved with their own local Board Chapter.” said Joseph E. Mottola, LIBOR CEO. “The expansion is in alignment with LIBOR’s mission to provide to its members resources that will enable them to reach their highest potential level of business success by enhancing their value to the consumer.”The Brooklyn Chapter will hold its first meeting on Wednesday, February 6, 2019 at 5:00pm at The Dumbo Loft in Brooklyn. For additional information visit: https://brooklyn.lirealtor.com/.

January 2019 Regional Home Sales Compared to January 2018: Northern Virginia

The Northern Virginia Association of Realtors® reports on January 2019 home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton.

A total of 1,127 homes sold in January 2019, a 2.83 percent increase above January 2018 home sales of 1,097.

Active listings decreased this month compared with 2018. Listings were down about 20 percent below last year, with 1,750 active listings in January, compared with 2,193 homes available in January 2018. The average days on market (DOM) for homes in January 2019 was 63 days, a decrease of 21.25 percent compared to the 80 DOM for homes in January 2018.

The average home sale price fell by less than 1 percent compared with last January, to $565,032. This is just 0.47 percent below the January 2018 average price of $567,710.

The median sold price of homes this January, which was $495,000, rose by 4.21 percent compared to the median price of $475,000 in January 2018.

The 1,356 new pending home sales in Northern Virginia in January were 6.09 percent below the 1,444 contracts that were pending in January last year. Pending contracts are those for which all contingencies have been removed. Total pending sales in January were down by 2.44 percent, to 1,678, compared with 1,720 pending contracts in January 2018.