There were more inventory than last year, now the inventory level in all three counties reached over 12 months supply . Units closed were in double digits decline comparing to last year; Queens declined 18%, Nassau 33%, Suffolk 28%.
....................... Inventory ..............!....... Units in contract .........................! Months Supply(note 1)
.............. Nov 10 ....... Nov 09 .......!... Nov 10 ..... Oct 10 ..... Nov 09
Queens ... 10060 ......... 9352 ......!...... 682 .......... 662 ........ 640 .........!........ 14.8
Nassau ..... 9384 ......... 8707 ......!...... 732 .......... 763 ........ 782 .........!........ 12.8
Suffolk .... 12579 ....... 12067 ......!..... 756 .......... 842 ........ 802 .........!......... 16.6
......................... Units closed ..........................*......... Median Price on closed properties
................ Nov 10 ......... Nov 09 ..... Oct 10 ......*....... Nov 10 ........... Nov 09 ........... Oct 10
Queens ....... 540 ............ 659 .......... 543 ........*..... $390,000 ...... $348,000 ....... $350,000
Nassau ........ 613 ............ 921 .......... 607 .......*..... $398,000 ....... $407,000 ....... $425,000
Suffolk ........ 703 ............ 978 .......... 771 .......*..... $319,500 ....... $330,000 ....... $325,800
Note: (1) Based on contracts in Nov 2010
Source: Long Island Board of Realtors
Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area.
