Median Price was still declining from last year.
Median Price on closed properties:
................ May 2009 .... May 2008
Queens ... $365,000 ... $407,500 (-10.43%)
Nassau ... $396,000 ... $438,500 (-9.69%)
Suffolk ... $334,500 ... $360,000 (-7.08%)
There was less inventory than last year, but it might only indicate more sellers realized the realistic price and not motivated to sell, if not necessary.
....................... Inventory ...................... Units in contract ................ Months Supply
................. May 09 ..... May 08 ........ May 09 .... Apr 09 ...... May 08
Queens ..... 10285 ..... 11602 ........... 772 ........ 738 .......... 761 ............. 13.3
Nassau ..... 10298 ..... 10808 ........... 888 ........ 859 .......... 931 ............. 11.6
Suffolk ..... 13189 ..... 15098 ........... 908 ........ 933 .......... 987 ............. 14.5
Source: Long Island Board of Realtors
