[Post-Tax Credit] 3Q 2010 Long Island Market Overview Available For Download
Posted by Jonathan J. Miller -Thursday, October 21, 2010, 9:27 AM
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[click to view report]
The 3Q 2010 Long Island Market Overview that I author for Prudential Douglas Elliman was released today.
You can view updated market charts and build your own custom tables using historical aggregate data.
Other reports we prepare can be found here.
For additional insight, view a series of charts we prepare outside of the report as well as general press coverage.
An excerpt
…There were 4,343 sales in the third quarter, 22.5% fewer than 5,603 in the prior year quarter and 26.4% less than 5,902 sales in the prior quarter. The expiration of federal tax credits for existing homeowners and first time buyers was likely responsible for the drop in sales. For the past five years, there was a 12.3% average change in the number of sales between second and third quarters. Listing inventory declined 2.3% to 21,670 in the third quarter from 22,170 in the prior year quarter and declined 8.3% from 23,620 in the prior quarter. Listing inventory levels remain elevated, but have generally trended lower since peaking in 2007. However, the monthly absorption rate—the number of months to sell all existing inventory at the current pace of sales—increased in the third quarter to 15 months, up from 11.9 months during the same period last year and above the 12 months seen in the prior quarter…
Download report 3Q 2010 Long Island Market Overview [Miller Samuel]
View Long Island charts [Miller Samuel]
Build your own historical custom data tables [Miller Samuel]
