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2Q 2007 Long Island/Queens Market Overview Available For Download

The 2Q 2007 Long Island/Queens Market Overview [pdf] [1] that I write for Prudential Douglas Elliman [PDE] [2] is available for download. We created this market area study in 2006.

You can see the methodology that went into the report.

You can also build your own custom data tables [3] using the aggregate report data (from 2Q 2003 through 2Q 2007 [2Q 2007 – to be uploaded shortly]). I have created a series of quarterly market charts [4] that may also be of interest.

_An excerpt_

…Both average sales price and median sales price indicators approached stabilization, after two years of decline. However, changes in price levels varied by price strata and market area. The most notable price changes occurred in a weaker North Shore market and a stronger Queens condo market. Despite stabilizing prices, the overall number of sales fell across the entire region with the North Shore market being the only market to show a gain as compared to the same period last year. As a result of diminished demand, inventory levels have continued to rise, causing other market indicators like days on market and listing discount to expand. A decline in the overall number of sales in one of the most active quarters of the year suggests that the housing market may experience continued weakness in the near future…..

Download report: 2Q 2007 Long Island/Queens Market Overview [pdf] [5]

Here’s a brief summary of the media coverage for the study. Its interesting to place the coverage side-by-side because its based on the same data.

Here’s the recap:

Queens-Long Island Home Prices Little Changed in Second Quarter [Bloomberg] [6]
LI, Queens housing sales still cool [Newsday] [8]
LI, Queens housing sales still cool [amNew York] [9]
Queens prices down in 2nd quarter [The Real Deal] [10]
Queens Residential Market Drops, Except for the Pricey Stuff [Curbed] [11]
Queens-Long Island Home Prices [Bloomberg Radio (no clip yet)]