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We published our report on the Long Island sales market for 2Q 2012.   This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.

Key Points

Long Island

-Despite the warm winter and early start of the spring market, second quarter sales were up 8.9% over last year.
-Pending sales were up 6.4% above year ago levels.
-Median sales price was unchanged from prior and year ago quarters.
-Listing inventory fell 13.2% to a seven year low for the second quarter.
-Negotiability between buyer and seller and days on market remained stable.
-Falling mortgage rates driving demand, despite tight mortgage lending conditions.

Here’s an excerpt from the report:

…The Long Island spring housing market was characterized by stable prices, falling inventory and rising sales activity. This occurred despite some of the tightest mortgage lending conditions in years, as well as elevated unemployment levels and a weak, but slowly improving, regional economy. There were 4,581 sales, 8.9% more than 4,205 in the prior year quarter. Pending sales showed a similar pattern, despite an unusually robust prior quarter, which was attributable to the atypically warm winter…

You can build your own custom data tables on the market – now updated with 2Q 12 data. You can browse our chart library for the latest – updated for 2Q 2012.

The Elliman Report: 2Q 2012 Long Island Sales [Miller Samuel]
The Elliman Report: 2Q 2012 Long Island Sales [Prudential Douglas Elliman]
Market Chart Library [Miller Samuel]
Aggregated Custom Market Data Tables [Miller Samuel]

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Here’s a quick recap of the Long Island Market Overview I authored for Prudential Douglas Elliman that we released last Thursday.

Check out the podcast

The Housing Helix Podcast Interview List

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.

Comments Off on [The Housing Helix Podcast] 1Q 2010 Long Island Market Overview

[click to view report]

The 1Q 2010 Long Island Market Overview that I author for Prudential Douglas Elliman was released today.

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

…After reaching a two-year high of 5,935 sales in the prior quarter, the number of sales fell 35.7% to 3,814 sales in the first quarter of 2010, which was 32.8% above the 2,872 sales in the same quarter last year. The rise in the number of sales over the past year resulted in a modest decline in listing inventory. There were 20,902 listings in the first quarter, down 8.9% from 22,942 listings in the prior year quarter, but 7.5% higher than 19,450 listings in the prior quarter. The uptick in listing inventory and decline in sales resulted in a rise in the monthly absorption rate— the number of months it would take to sell out existing inventory at the current pace of sales. The absorption rate was 16.4 months, down from 24 months in the prior year quarter, but higher than the 12.9 average monthly absorption rate for the past 5 years…

Download report 1Q 2010 Long Island Market Overview [Miller Samuel]
View Long Island charts [Miller Samuel]

Tags: Absorption

Comments Off on [Limping Into Better Times] 1Q 2010 Long Island Market Overview Available For Download

I’m playing catch-up with my podcasts over at the The Housing Helix and here’s a collection brief summaries on the latest reports we released.

[click to open podcast]

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To get a copy of the reports go here.

The Housing Helix Podcast Interview List

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.

Comments Off on [The Housing Helix Podcast] Manhattan Townhouse/Ten Year, Hamptons North Fork/Long Island 4Q 2009 Reports

[click to view report]

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

Other reports we prepare can be found here.

Charts with the 4Q 2009 will be available online later today.

An excerpt

…There were more sales in the fourth quarter than in any quarter over the past two years as purchasers took advantage of the firsttime buyer federal tax credit program, increased affordability and low mortgage rates. There were 5,935 sales in the fourth quarter, 34.1% more than 4,427 sales in the same period a year ago and 5.9% more than 5,603 sales in the prior quarter. The current pace of sales has doubled from the low point in the first quarter of 2009, when there were 2,872 sales, but still remained 22% below the peak of 7,607 sales during the third quarter of 2004, the height of the housing boom. Listing inventory declined as a result of the increase in the number of sales. There were 19,450 listings, 6.2% below 20,730 listings in the prior year quarter and 12.3% below 22,170 listings in the prior quarter…

Download 4Q 2009 Long Island Market Overview

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Last week we released market reports for both Long Island and Hamptons/North Fork. The week before we released reports for Brooklyn and Queens. I meant to release short podcast recaps on all four reports (combined into pairs) when they were released but alas, was behind schedule.

But here they are.

Brooklyn & Queens Market Overview podcast

[click for podcast]

Long Island and Hamptons/North Fork podcast

[click for podcast]

The Housing Helix Podcast Archive

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.

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The 3Q 2009 Long Island Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

Charts with the 3Q 2009 are available online.

An excerpt

…There were 5,603 sales in the third quarter, 41.6% higher than the 3,956 sales of the second quarter and 5.9% higher than the same period last year. This was the first time in the past year the number of sales increased over the prior year quarter and only the second time since the beginning of 2007. The increase in the number of sales resulted in a decline in listing inventory. There were 22,170 listings, 5.6% below the 24,485 listings in the prior quarter and 10.1% below the 24,672 listings in the same period last year. The increase in the number of sales and the corresponding decline in listing inventory played a role in the stabilization of the price indicators over the summer…

Download 3Q 2009 Long Island Market Overview

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The 2Q 2009 Long Island Market Overview that I author for Prudential Douglas Elliman was released today.

Other reports we prepare can be found here.

The 2Q 2009 [data](https://www.millersamuel.com/data) and a series of updated [charts](https://www.millersamuel.com/charts/index.php?Node=1225671404FFPKy) are available.

Press coverage can be found here.

An excerpt

…The number of sales fell 32.7% to 3,956 from 5,874 in the same period last year, but increased 37.7% from the prior quarter total of 2,872. The jump in number of sales was consistent with seasonal trends as this period has averaged a 35.4% increase in the prior 5 years. Seasonality in this market statistic is much more pronounced than in New York City, where the trend has been historically more moderate. The number of properties for sale peaked in the second quarter of 2008 at 26,145 properties. Listing inventory has fallen 10.2% from the peak to 23,485 properties, in contrast to the decline in the number of sales over the same period. The monthly absorption rate — the number of months it would take to sell all existing inventory at the current pace of sales — was 17.8 months, up from 13.4 months in the same period last year. Many sellers are opting to list properties when they determine the market has improved…

Download 2Q 2009 Long Island Market Overview

UPDATE: Listen to the podcast

Tags: Absorption, Seasonal Adjustment

1 Comment

Today we released the last two market reports of the quarterly gauntlet of reports covering the New York City region (no more until October!) – I provide a brief overview for each report in this podcast.

To download these reports and other reports, view charts and build custom data tables.

Prudential Douglas Elliman Hamptons/North Fork Market Overview 2Q 2009

Prudential Douglas Elliman Long Island Market Overview 2Q 2009

Check out the podcast.

You can subscribe on iTunes or simply listen to the podcast on my other blog The Housing Helix.

Comments Off on [The Housing Helix Podcast] Hamptons/North Fork + Long Island Market Overviews 2Q 2009

The 1Q 2009 Long Island Market Overview that I author for Prudential Douglas Ellimanis available for download.

The President and CEO of Prudential Douglas Elliman, Dottie Herman, is a big believer in publishing market data to create more transparency for consumers in the market her firm serves – Manhattan to Montauk.

Other reports we prepare can be found here.

Customized tables for the 1Q 2009 Long Island [data](https://www.millersamuel.com/data) and a series of updated [charts](https://www.millersamuel.com/charts/index.php?Node=1176643103zmaCu) are available on our corporate site.

A report excerpt

…After peaking at 26,145 units in the second quarter of 2008, the number of listings has generally trended lower. There were 22,942 listings at the end of the first quarter, down 4.4% from 24,003 units in the same period last year. Listing inventory did rise 10.7% from the prior quarter, but this was a seasonal increase and lower than in four of the past five years during the same period. Inventory levels have been stabilizing over the past two years, however, the level of sales activity has been declining over the same period. There were 2,872 sales in the first quarter, 18.2% below the 3,513 sales of the same period a year ago. As a result, the monthly absorption – the number of months it would take to sell all existing inventory at the current pace of sales 9 was 24 months, up from 20.5 months in the same period last year…

Tags: Dottie Herman, Absorption

1 Comment

The 4Q 2008 Long Island Market Overview that I author for Prudential Douglas Ellimanis available for download.

The President and CEO of Prudential Douglas Elliman, Dottie Herman, is a big believer in publishing market data to create more transparency for consumers in the market her firm serves – Manhattan to Montauk.

Other reports we prepare can be found here.

Customized tables for the 4Q 2008 Long Island [data](https://www.millersamuel.com/data) and a series of updated [charts](https://www.millersamuel.com/charts/index.php?Node=1176643103zmaCu) are available on our corporate site.

A report excerpt

…For the second consecutive quarter, listing inventory has declined in addition to the contraction in the number of sales over the same period and the prior year quarter. There were 20,730 properties listed for sale at the end of the current quarter, down 0.3% from the same period last year with 20,801 properties listed at that time. The number of sales slipped 3.4% over the same period to 4,427 sales, from 4,584 sales. The stabilization of inventory combined with the decline in number of sales suggests that there are fewer Ã’casual sellersÓ with many opting to wait until housing market conditions improve before listing a property. The contraction of credit and the current recession continue to limit the number of sales, placing downward pressure on price trends…

The media coverage of the report is available here as they were obtained (in no particular order).

Tags: Dottie Herman

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The 3Q 2008 Long Island Market Overview [pdf] that I author for Prudential Douglas Elliman [PDE] is available for download. Due to demand, I expanded the Long Island/Queens Market Overview into two separate reports.

To review the report methodology.

An excerpt

…The median sales price for the fifth consecutive quarter has fallen from the prior year quarter and seven of the last eight quarters. The Median sales price at $415,000 was down 6.2% from $442,380 in the same period last year. Median sales price is off 7.8% from its peak two years ago during the same period when it was $445,521. Average sales price saw a similar pattern suggesting that the price decline was not due to a skew in the mix of what sold over the quarter. The average sales price was $508,936 this quarter, down 7.3% from the prior year quarter result of $548,883…

Download report: 3Q 2008 Long Island Market Overview [pdf]

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