The inventory level don't look so good except single family. For co-op an average agent may need an average time of almost 3 years to sell: at this difficult time a seller should hire an experienced agent who specialized in selling co-op.
Inventory as at 07/16/09:
17 units of 2-family - median asking price $649,000 (26 months supplies)
16 units of 1-family - median asking price $554,500 (5 months supplies)
23 units of condo - median asking price $289,000 (23 months supplies)
152 units of co-op - median asking price $185,000 (35 months supplies)
Units closed in the first half year of 2009 - 01/01/09 to 06/30/09:
4 units of 2-family - median selleing price $512,500
18 units of 1-family - median selling price $462,500
6 units of condo - median asking price $327,500
26 units of co-op - median selling price $156,500
Units closed in the first half year of 2008 - 01/01/08 to 06/30/08:
3 units of 2-Family - median selling price $765,000
28 units of 1- Family - median selling price $500,000
9 units of condo - median asking price $275,000
56 units of co-op - median selling price $173,000
Source: MLS of Long Island
