Kin's Blog: February 2009

Inventory as at 02/18/09:

12 units of 2 family - median asking price $660,000

22 units of 1 family - median asking price $590,000

21 units of condo - median asking price $328,000

124 units of co-op - median asking price $200,000

Units closed in the 6 months period from 8/1/08 to 01/31/09:

7 units of 2 family - median selling price $660,000

26 units of 1 family - median selling price $512,500

8 units of condo - median asking price $360,000

51 units of co-op - median selling price $170,000

Units closed in the 6 months period from 2/1/08 to 7/31/08:

3 units of 2 Family - median selling price $495,000

29 units of 1 Family - median selling price $500,000

9 units of condo - median asking price $275,000

54 units of co-op - median selling price $174,500

Source: MLS of Long Island

Inventory as at 02/18/09:

22 units of 2 family - median asking price $799,000

11 units of 1 family - median asking price $619,000

17 units of condo - median asking price $349,000

145 units of co-op - median asking price $210,000

Units closed in the 6 months period from 8/1/08 to 01/31/09:

5 units of 2 family - median selling price $639,000

5 units of 1 family - median selling price $610,000

8 units of condo - median asking price $320,000

105 units of co-op - median selling price $216,000

Units closed in the 6 months period from 2/1/08 to 7/31/08:

11 units of 2 Family - median selling price $755,000

10 units of 1 Family - median selling price $590,000

14 units of condo - median asking price $315,000

192 units of co-op - median selling price $214,000

Source: MLS of Long Island

Inventory as at 02/15/09:

161 units of 2 family - median asking price $679,000

110 units of 1 family - median asking price $542,500

24 units of condo - median asking price $339,000

23 units of co-op - median asking price $199,000

Units closed in the 3 months period from 11/1/08 to 01/31/09:

20 units of 2 family - median selling price $567,500

14 units of 1 family - median selling price $460,000

2 units of condo - median asking price $289,000

7 units of co-op - median selling price $168,000

Units closed in the 3 months period from 8/1/08 to 10/31/08:

26 units of 2 Family - median selling price $588,400

15 units of 1 Family - median selling price $460,000

2 units of condo - median asking price $282,000

7 units of co-op - median selling price $150,000

Source: MLS of Long Island

Median Prices in Queens on closed properties was dropped more than 20% comparing to last year:

................ Jan 2009 .... Jan 2008

Queens ... $343,800 ... $438,000 (-21.51%)

Nassau ... $385,000 ... $440,000 (-12.50%)

Suffolk ... $320,000 ... $373,500 (-14.32%)

Inventory is still in high level compare to Units under contract:

..................... Inventory ...................... Units in contract ............. Months Supply

.................. 01/09 ..... 01/08 ........ 01/09 .... 12/08 ...... 01/08

Queens ..... 10286 ..... 10838 .......... 519 ........ 497 .......... 519 ............. 19.8

Nassau ....... 9151 ....... 9136 .......... 534 ........ 554 ......... 585 ............. 17.15

Suffolk ..... 12670 ..... 13479 .......... 562 ........ 661 ......... 669 .............. 22.5

Source: Long Island Board of Realtors

Inventory as at 01/25/09:

39 units of 2 family - median asking price $879,888

20 units of 1 family - median asking price $654,500

52 units of condo - median asking price $419,500

66 units of co-op - median asking price $239,000

Units closed in the 6 months period from 7/1/08 to 12/31/08:

23 units of 2 family - median selling price $780,000

32 units of 1 family - median selling price $600,000

22 units of condo - median asking price $395,000

59 units of co-op - median selling price $202,000

Units closed in the 6 months period from 1/1/08 to 6/30/08:

26 units of 2 Family - median selling price $737,500

33 units of 1 Family - median selling price $570,000

19 units of condo - median asking price $373,000

48 units of co-op - median selling price $210,000

Source: MLS of Long Island