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

Other reports we prepare can be found here.

The 3Q 2009 data and a series of updated charts are available.

Press coverage can be found here.

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…

Download 3Q 2009 Queens Market Overview