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://millersamuel.com/data) and a series of updated [charts](https://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