Although the inventory is less than last year and the units in contract is more than last year, but the supply (Inventory over Units going into contract in Nov) jumped on month to month. Prices is slightly higher than last year.
....................... Inventory ..............*........... Units in contract ...................*....... Months Supply(note 1)
................. Nov 09 ....... Nov 08 ......*..... Nov 09 ..... Oct 09 ..... Nov 08
Queens ...... 9352 ........ 11238 .......*...... 640 ......... 838 ......... 437 .......*........ 14.6 (11.5 in Oct)
Nassau ...... 8707 .......... 9711 ........*..... 782 ........ 1068 ......... 576 .......*........ 11.1 (8.5 in Oct)
Suffolk ..... 12067 ....... 13656 ........*..... 802 ........ 1155 ......... 658 ........*....... 15.0 (10.8 in Oct)
..................... Units closed ............................... Median Price on closed properties
................ Nov 09 ......... Nov 08 ..... Oct 09 ....... Nov 09 ........ Nov 08 ........ Oct 09
Queens ....... 659 ........... 489 ........ 707 ........ $348,000 .... $390,000 .... $345,000
Nassau ........ 921 ........... 596 ........ 929 ........ $407,000 .... $410,000 .... $400,000
Suffolk ........ 978 ........... 676 ........ 974 ........ $330,000 .... $335,000 .... $327,000
Note: (1) Based on contracts in Nov 09
Source: Long Island Board of Realtors
Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area.
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