[click to open report]

The 4Q 2009 Queens Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

The 4Q 2009 data (shortly) and a series of charts are available.

Press coverage can be found here.

Since the neighborhood data is too thin to build a reliable trend line, we have grouped neighborhoods by logical regions based on housing stock.

An excerpt

>…After below trend sales activity in the first two quarters of 2009, there was a release of pent-up demand as buyers who had been “sitting on the fence” began to make purchase decisions en masse in the third quarter. This was prompted by a rapidly rising stock market that improved consumer confidence, low mortgage rates and newly found affordability as a result of falling housing prices. There were 2,789 sales in the current quarter, down 13.9% from 3,240 units in the prior year quarter, but jumped 31% from 2,129 units in the prior quarter. The surge in the number of sales resulted in a decline in listing inventory. There were 9,797 listings on the market in the third quarter, down 13.9% from 11,377 in the prior year quarter and down 3% from the 10,100 listings available at the end of the prior quarter. A portion of the decline from the prior year quarter was attributable to sellers pulling their listings from the market with the strategy of relisting when market conditions improve…

4Q 2009 Queens Market Overview [Miller Samuel] 4Q 2009 Queens Market Recap Podcast [The Housing Helix Podcast]