We published our report on the Long Island sales market for 2Q 2013.

This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.

Key Points

– Fastest market pace since 2005 with absorption rate at 9.3 months.
– Inventory fell sharply as closed sales and pending sales jumped.
– Housing prices edged higher.
– Tight credit continued to keep inventory off market.
– Concern about rising mortgage rates pushed more buyers into the market.

Here’s an excerpt from the 2Q 2013 report:

…Although the pace of the Long Island market
has been accelerating with more sales and less
supply, prices continue to see only modest gains
from the prior year levels. There were 16,300
listings in total inventory at the end of the second
quarter, 17.5% less than in the same period
last year. However, new inventory added to the
market expanded by 8.7% to 12,292 over the
same period, possibly providing some relief to
homebuyers in the coming quarters…

You can build your own custom data tables on the market – now updated with 2Q 13 data. Check out the charts by browsing in our chart library.


The Elliman Report: 2Q 2013 Long Island Sales [Miller Samuel] The Elliman Report: 2Q 2013 Long Island Sales [Douglas Elliman] Market Chart Library [Miller Samuel] Aggregated Custom Market Data Tables [Miller Samuel]