MARKET UPDATE - LONG ISLAND

October 2007

The median price of homes this October as compared to October 2006 is $430,000 a decline of 2%.

The average price of homes this October as compared to October 2006 is $516,000, an INCREASE of 2.8%

Unsold inventory value is declining.

Contracts are down 22% for October, but increased September 2007 over September 2006.

Consumer web hits for MLSLI.com are at 25,000,000 (yes, that's million) per month which is over 18,000 hits per day over last year this time. This is an indication that the buyers are out there looking!

Gail Gladstone, Long Island Realtor

Posted by Gail Gladstone on 11/28/2007 10:07 PM

Comments (3)

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3 Comments on MARKET UPDATE - LONG ISLAND

Thanks for sharing the market summary of your local area. Hopefully this postive trend will spread to other local markets.

11/29/2007 07:41 AM

by DDR Realty, Orange County, NY

Gail, Those are good statistics, I'm glad to hear it! The inventory is down and people are looking. I was not quite sure how the market was on Long Island but I've seen many "sold" signs go up recently.

11/29/2007 08:10 AM

by Carole Provenzale Owner, Feng Shui Long Island & New York (Feng Shui Long Island & New York City)

Gail, very interesting info. Here in the Bergen County Real Estate Market we are seeing a similiar situation with buyer viewings increasing, however that has yet to show in the number of contracts written.

Sal Poliandro - Bergen County Realtor

11/29/2007 09:40 PM

by Bergen County Realtor, Sal Poliandro, SRES, ePRO, Short Sale Specialist (RE/MAX Properties)

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Real Estate Agent: Gail Gladstone (Coldwell Banker)

Gail Gladstone
Huntington, NY
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