Kin's Blog: January 2010

The unit is located at 33-44 91 St, #4M, Jackson Heights, NY11372 - 1 bedrooms 1 bath about 770 square feet. It was sold for $128,000 in December, 2009.

The building is a 6-stories building which was built in 1958. It is located on 91 St between Northern Blvd & 34 Ave. There is laundry room, private park in the complex. Subway is on Roosevelt Ave which is just few blocks away.

The monthly maintenance fee is $491 which includes electric, gas, water, heat & real tax.

There were more units under contracts in Dec 09 than Dec 08, but slowed down from Nov 09.

Median price was still in a down trend.

..................... Inventory ..............*........... Units in contract ...................*....... Months Supply(based on contracts in Dec 09)

 ................ Dec 09 ....... Dec 08 ......*..... Dec 09 ..... Nov 09 ..... Dec 08

Queens ...... 9079 ......... 9822 .......*...... 597 ........ 640 ......... 497 .......*........ 15.2 

Nassau ....... 8028 ......... 8592 .......*...... 707 ........ 782 ........ 554 ........*........ 11.4

Suffolk ..... 11372 ....... 12138 .......*...... 768 ........ 802 ......... 661 ........*....... 14.8

 ..................... Units closed ............................... Median Price on closed properties

................ Dec 09 ......... Dec 08 ..... Nov 09 ....... Dec 09 ........ Dec 08 ........ Nov 09

Queens ....... 820 ........... 537 ........ 659 ........ $335,000 .... $390,000 .... $348,000

Nassau ........ 852 ........... 697 ........ 921 ........ $400,000 .... $410,000 .... $407,000

Suffolk ...... 1036 .......... 730 ......... 978 ........ $325,000 .... $350,000 .... $330,000

Source: Long Island Board of Realtors

Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area

Inventory built up again to over 2 years supply.

About 27% of the sales of single & two-family in 2009 was REO and 24% was Short-sale.

Median Selling Price in 2009 declinced over 20% from 2008.

Inventory as at 1/6/10:

136 units of 2 family - median asking price $650,000 (26 months supply)*

27 units of 1 family - median asking price $550,000 (27 months supply)*

45 units of condo - median asking price $329,000 (60 months supply)*

43 units of co-op - median asking price $149,000 (39 months supply)*

*Based on the closings in 2009

Units closed in 2009:

61 units of 2 family - median selling price $470,000 (volume decreased by 9% year over year)

12 units of 1 family - median selling price $302,700 (volume increased by 9% year over year)

9 units of condo - median selling price $235,000 (volume decreased by 30% year over year)

13 units of co-op - median selling price $145,000 (volume decreased by 50% year over year)

Units closed in 2008:

67 units of 2 family - median selling price $620,000

11 units of 1 family - median selling price $430,000

13 units of condo - median selling price $310,000

26 units of co-op - median selling price $150,500

Source: MLS of Long Island

Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area

The unit is located at 141-09 28 Ave, Apt 5D, Flushing, NY 11354 - 2 bedrooms 1 bath about 850 square feet. It was sold for $190,000 in December, 2009.

The building is a 6-stories building which was built in 1952. It is located on Ave between 141 St & Union St. The area is quiet, parking is easy, yet it is within walking distance to downtown Flushing.

The monthly maintenance fee is $670 which included electric, gas, water, heat & real tax.