The units in contract was improving comparing to last month and last year. But the median price was still falling in Queens, Nassau & Suffolk.
....................... Inventory ............*........... Units in contract ......................*....... Months Supply(1)
................. Sept 09 ...... Sept 08 ......*..... Sept 09 ..... Aug 09 ..... Sept 08
Queens ...... 9800 ........ 11377 ........*...... 864 ......... 758 .......... 690 .......*........ 11.3
Nassau ....... 9516 ........ 10259 ........*..... 1005 ........ 952 ......... 828 .......*........ 9.5
Suffolk ..... 12822 ........ 14413 ........*.... 1112 ........ 1090 ......... 912 .......*....... 11.5
Median Price on closed properties:
................ Sept 2009 .... Sept 2008
Queens .... $341,500 ... $400,000 (-14.63%)
Nassau ..... $405,000 ... $446,000 (-9.19%)
Suffolk ..... $338,000 ... $360,000 (-6.11%)
Note: (1) Based on contracts in Sept 09
Source: Long Island Board of Realtors
Median price may be an indicator of the large market, but here, different price points are solid.