Inventory built up again to over 2 years supply.
About 27% of the sales of single & two-family in 2009 was REO and 24% was Short-sale.
Median Selling Price in 2009 declinced over 20% from 2008.
Inventory as at 1/6/10:
136 units of 2 family - median asking price $650,000 (26 months supply)*
27 units of 1 family - median asking price $550,000 (27 months supply)*
45 units of condo - median asking price $329,000 (60 months supply)*
43 units of co-op - median asking price $149,000 (39 months supply)*
*Based on the closings in 2009
Units closed in 2009:
61 units of 2 family - median selling price $470,000 (volume decreased by 9% year over year)
12 units of 1 family - median selling price $302,700 (volume increased by 9% year over year)
9 units of condo - median selling price $235,000 (volume decreased by 30% year over year)
13 units of co-op - median selling price $145,000 (volume decreased by 50% year over year)
Units closed in 2008:
67 units of 2 family - median selling price $620,000
11 units of 1 family - median selling price $430,000
13 units of condo - median selling price $310,000
26 units of co-op - median selling price $150,500
Source: MLS of Long Island
Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area
