The inventory level is normal based on the sales for the 12-months period from September 09 to August 10, except the co-op (15 months).
If we take a look of the sales in last two-months, then the situation look a little bit more worse.
Inventory as at 09/25/10:
8 units of 2-family - median asking price $659,500 (10 months supply)*
30 units of 1-family - median asking price $597,000 (6 months supply)*
18 units of condo - median asking price $268,500 (8 months supply)*
178 units of co-op - median asking price $189,000 (15 months supply)*
*Based on the closings in the period 9/1/09 - 8/31/10.
Units closed in the period 9/1/09 to 8/31/10:
9 units of 2-family - median selling price $500,000
54 units of 1 family - median selling price $505,500
25 units of condo - median selling price $270,000
142 units of co-op - median selling price $163,000
Units closed in the period 7/1/10 to 8/31/10:
0 units of 2-family (~ months supply)#
10 units of 1 family - median selling price $514000 (6 months supply)#
4 units of condo - median selling price $261,000 (13 months supply)#
21 units of co-op - median selling price $165,000 (16 months supply)#
#The current inventory level based on the last two-months sales.
Date source: MLS of Long Island
Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area
