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Elliman Report: Queens Sales 3Q 2013
Echoing the prior quarter, listing inventory in the Queens housing market fell to a multi-year low. Listing inventory declined 32.3% to 6,124 from the prior year quarter, the lowest level reached since this metric was tracked beginning in 2005. The reduction of supply was matched by the surge in sales as many consumers rushed to purchase after mortgage rates surged last spring. The number of sales reached the highest total in three years jumping 29.6% to 3,251 from the same period last year.
