Kin's Blog: August 2010

Inventory built up to over 12 months in the Long Island area. Queens was over 15 months.

July sales volume dropped 47% in Queens, 54% in Nassau & 56% in Suffolk from June.

The National Association of Realtors will release the Existing Home Sales on 8/24/10 Tuesday; let see how our area doing compare with the country.

....................... Inventory ..............*........... Units in contract .............*....... Months Supply(note 1)

................. Jul 10 ....... Jul 09 .......*..... Jul 10 ..... Jun 10 ..... Jul 09

Queens .... 10193 ....... 10004 .......*...... 657 ........ 671 ......... 827 .......*........ 15.5

Nassau ..... 10047 ....... 10117 .......*...... 808 ........ 860 ....... 1058 .......*........ 12.4

Suffolk ..... 13537 ....... 13097 .......*...... 880 ........ 824 ....... 1144 .......*........ 15.4

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

................ Jul 10 ......... Jul 09 ..... Jun 10 ......*..... Jul 10 .......... Jul 09......... Jun 09

Queens ....... 544 ........... 616 ....... 1033 ......*... $355,000 .... $355,000 .... $327,000

Nassau ........ 652 ........... 905 ....... 1419 ......*... $435,000 .... $415,000 .... $415,000

Suffolk ........ 662 ........... 970 ....... 1533 ......*... $340,000 .... $350,000 .... $335,000

Note: (1) Based on contracts in July 2010.

Source: Long Island Board of Realtors

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