Median Price in Queens on closed properties in October 2008 dropped 14.2% comparing to October last year. Inventory level is slightly less than last October.
.... Oct 2008 .... Oct 2007
Queens ... $385,000 ... $448,500 (-14.2%)
Nassau ... $425,000 ... $474,000 (-10.3%)
Suffolk ... $345,000 ... $385,000 (-10.4%)
..................... Inventory ...................... Units in contract .................. Months Supply
................ 10/08 ..... 10/07 ........ 10/08 .... 09/08 ...... 10/07
Queens .... 11303 ..... 11553 .......... 572 ........ 690 ......... 697 ............. 19.8
Nassau .... 9929 ..... 10036 .......... 689 ........ 828 ......... 791 ............. 14.4
Suffolk .... 13989 ..... 14621 .......... 828 ......... 912 ........ 902 .............. 16.9
Source: Long Island Board of Realtors
