Units under contract in the three counties were about the same as September, but were a big improvement from last year. Price drop was slowed down. The first-time home buyer credit is working.

....................... Inventory ..............*........... Units in contract ...................*....... Months Supply(1)

................. Oct 09 ....... Oct 08 ......*..... Oct 09 ..... Sept 09 ..... Oct 08

Queens ...... 9624 ........ 11303 .......*...... 838 ......... 864 .......... 572 .......*........ 11.5

Nassau ...... 9109 ......... 9929 ........*..... 1068 ........ 1005 ......... 689 .......*........ 8.5

Suffolk ..... 12510 ....... 13989 ........*.... 1155 ........ 1112 ......... 828 ........*....... 10.8

 ..................... Units closed ............................ Median Price on closed properties

 ................ Oct 09 .... Sept 08 .... Oct 08 ........... Oct 09 ...... Sept 09 ..... Oct 08

Queens ........ 707 .......... 618 ........ 653......... $345,000 .... $341,500 .... $385,000

Nassau ........ 929 ........... 845 ........ 786......... $400,000 .... $405,000 .... $425,000

Suffolk ........ 974 ........... 883 ........ 844 ........ $327,000 .... $338,000 .... $345,000

Note: (1) Based on contracts in Oct 09

Source: Long Island Board of Realtors