market condition: Market Condition in Jackson Heights, NY 11372 - 08/26/12 04:46 PM
Single family was moving well, but condo and co-op have too many supplies.

Inventory as at 08/26/2012:
15 units of 2 family - median asking price $720,000 ( 11 months supply)*
5 units of 1 family - median asking price $559,000 ( 5 months supply)*
19 units of condo - median asking price $325,000 ( 25 months supply)*
207 units of co-op - median asking price $195,000 ( 17 months supply)*
*Based on the closings in the past 12 months from 8/1/11 to 7/31/12

Units closed in the past 12 months from 8/1/11 to 7/31/12:
16 units of 2 family - median selling price $553,000
11 … (0 comments)

market condition: Market Condition in Jackson Heights - 10/16/11 04:47 AM
There are a lot of co-op listings in Jackson Heights, at the pace in the last quarter, it will take over 18 months to sell it all.
Inventory as at 10/15/2011 :
45 units of 2-family - median asking price $709,999 (13.5 months supply)*
40 units of 1-family - median asking price $543,500 (10.9 months supply)*
30 units of condo - median asking price $302,000 (11.3 months supply)*
272 units of co-op - median asking price $195,000 (18.5 months supply)*
*Based on the closings in the third quarter 2011.
Units closed in the third quarter 2011:
10 units of 2-family - median selling price $559,000
11 units … (0 comments)

market condition: Activities slowed down in September 2011 - 10/16/11 04:26 AM
Activities slowed down in September, pushing the Inventory Supply to over 17 months in Queens.
Price didn't change much comparing to last year.
....................... Inventory .............*............... Units in contract ...................*....... Months Supply(note 1)
.............. Sep 2011 .... Sep 2010 ...*... Sep 2011... Aug 2011 ... Sep 2010
Queens ....... 9895 ........ 10320 ........*...... 571 ........... 722 .............. 662 ........*........ 17.3 (13.9 in Aug 11)
Nassau ....... 9826 .......... 9891 ........*...... 698 ........... 865 .............. 699 ........*........ 14.1 (11.8 in Aug 11)
Suffolk ..... 13029 ........ 13452 .........*...... 801 ........... 921 .............. 849 ........*........ 16.3 (14.6 in Aug 11)
 
..................... Units closed .................................................. Median Price on closed properties
................ Sep 2011... Aug 2011 ... Sep 2010...................... Sep 2011... … (1 comments)

market condition: Inventory built up again - 12/28/10 10:19 AM
There were more inventory than last year, now the inventory level in all three counties reached over 12 months supply . Units closed were in double digits decline comparing to last year; Queens declined 18%, Nassau 33%, Suffolk 28%.
....................... Inventory ..............!....... Units in contract .........................! Months Supply(note 1)
.............. Nov 10 ....... Nov 09 .......!... Nov 10 ..... Oct 10 ..... Nov 09
Queens ... 10060 ......... 9352 ......!...... 682 .......... 662 ........ 640 .........!........ 14.8
Nassau ..... 9384 ......... 8707 ......!...... 732 .......... 763 ........ 782 .........!........ 12.8
Suffolk .... 12579 ....... 12067 ......!..... 756 .......... 842 ........ 802 .........!......... 16.6
......................... Units closed ..........................*......... Median Price on closed properties
................ Nov 10 ......... Nov 09 ..... Oct 10 ......*....... Nov 10 ........... Nov 09 ........... Oct … (1 comments)

market condition: Sales volume was shrinking - 11/09/10 08:03 AM
Sales volume continued the decline, comparing to August this year and September last year.
....................... Inventory ..............!....... Units in contract .........................! Months Supply(note 1)
.............. Sep 10 ....... Sep 09 .......!... Sep 10 ..... Aug 10 ..... Sep 09
Queens ... 10320 ......... 9800 ......!...... 662 .......... 675 ......... 864 .........!........ 15.6
Nassau ...... 9891 ........ 9516 ......!...... 699 .......... 841 ........ 1005 .........!....... 14.2
Suffolk .... 13452 ....... 12822 ......!..... 849 .......... 921 ........ 1112 .........!........ 15.8
......................... Units closed ..........................*......... Median Price on closed properties
................ Sep 10 ......... Sep 09 ..... Aug 10 ......*....... Sep 10 ........... Sep 09 ........... Aug 10
Queens ....... 587 ............ 618 .......... 531........*..... $350,000 ........ $341,500 ....... $343,000
Nassau ........ 749 ............ 845 .......... 778 .......*..... $410,000 ....... $405,000 ....... $445,000
Suffolk … (1 comments)

market condition: Market condition in Kew Garden Hills, NY11367 - 09/25/10 11:18 PM
The inventory level is normal based on the sales for the 12-months period from September 09 to August 10, except the co-op (15 months).
If we take a look of the sales in last two-months, then the situation look a little bit more worse.
Inventory as at 09/25/10:
8 units of 2-family - median asking price $659,500 (10 months supply)*
30 units of 1-family - median asking price $597,000 (6 months supply)*
18 units of condo - median asking price $268,500 (8 months supply)*
178 units of co-op - median asking price $189,000 (15 months supply)*
*Based on the closings in the period 9/1/09 - 8/31/10.
Units … (0 comments)

market condition: August sales improved - 09/24/10 02:07 AM
Queens inventory built up a little bit and is now more than 15 months supply; median price dropped.
Units closed of all three counties were lower than last year.
....................... Inventory ...............!....... Units in contract .........................! Months Supply(note 1)
.............. Aug 2010 ....... Aug 2009 ...!... Aug 2010 ..... Jul 2010 ..... Aug 2009
Queens ..... 10321 .....,..... 9905 ......!..... 675 ............ 657 ......... 758 .........!........ 15.3
Nassau ..... 10004 .......... 9702 .......!...... 841 ........... 808 ......... 952 .........!........ 11.9
Suffolk ..... 13610 ......... 12893 ......!...... 921 ........... 880 ........ 1090 .........!........ 14.8
......................... Units closed ....................................*......... Median Price on closed properties
................ Aug 2010 ......... Aug 2009 ..... Jul 2010 ......*..... Aug 2010 ........ Aug 2009 ......... Jul 2010
Queens ....... 531 .............. 638 ............. 544............*..... … (0 comments)

market condition: Can Obama rescue us? - 09/04/10 01:09 AM

The graph above showed the total number of exiting home sales in Queens, Nassau & Suffolk. Usuallly the activity in Febuary is lowest in a year.
From the graph you may see:
Febuary 2008 is 47% lower than July 2007.
Febuary 2009 is 52% lower than July 2008.
Febuary 2010 is 39% lower than July 2009.
Number of sales in July 2010 is 1858, if the coming Febuary in 2011 repeat the history and let say just lower than this July by 40%, the number will be 1115.
There are over 2400 real estate offices (over 10,000 agents) in the area, … (2 comments)

market condition: July sales volume dropped more than 50% from June - 08/22/10 03:28 PM
Inventory built up to over 12 months in the Long Island area. Queens was over 15 months.
July sales volume dropped 47% in Queens, 54% in Nassau & 56% in Suffolk from June.
The National Association of Realtors will release the Existing Home Sales on 8/24/10 Tuesday; let see how our area doing compare with the country.
....................... Inventory ..............*........... Units in contract .............*....... Months Supply(note 1)
................. Jul 10 ....... Jul 09 .......*..... Jul 10 ..... Jun 10 ..... Jul 09
Queens .... 10193 ....... 10004 .......*...... 657 ........ 671 ......... 827 .......*........ 15.5
Nassau ..... 10047 ....... 10117 .......*...... 808 ........ 860 ....... 1058 .......*........ 12.4
Suffolk ..... 13537 ....... 13097 .......*...... 880 ........ 824 ....... 1144 .......*........ 15.4
(2 comments)

market condition: Market condition in Far Rockaway NY11691 - 06/27/10 01:42 AM
This is one of the serious stress-sale areas in Queens. Currently there are 71 2-family on the market 3 are REO, 22 short-sale. For 1-family 1 is REO, 16 short-sale. There is not many REO as last year and a lot less than 2 years ago. Is all the REO been sold or Banks hold off selling? I have no answer for that.
Inventory as at 06/26/10:
71 units of 2-family - median asking price $399,000 (16 months supply)*
39 units of 1-family - median asking price $299,000 (13 months supply)*
6 units of condo - median asking price $232,500 (72 months supply)*
4 units of … (0 comments)

market condition: Market condition in Flushing NY11355 - 06/18/10 02:34 PM
Single-family was moving well. 2-family, co-op is about 12-months' supply. Condo inventory level is very high.
Inventory as at 06/18/10:
42 units of 2-family - median asking price $1,049,000 (12 months supply)*
28 units of 1-family - median asking price $724,000 (6 months supply)*
133 units of condo - median asking price $429,000 (45 months supply)*
94 units of co-op - median asking price $249,000 (11 months supply)*
*Based on the closings in the period 6/1/09 - 5/31/10.
Units closed in the period 6/1/09 to 5/31/10:
41 units of 2-family - median selling price $770,000
54 units of 1 family - median selling price $567,500
35 units of … (1 comments)

market condition: Market condition in Flushing NY11354 - 06/09/10 02:17 AM
Inventory level is high, it will take almost a year to sell all the listings based on the previous 12-months' sales.
Inventory as at 06/08/10:
16 units of 2-family - median asking price $928,000 (12 months supply)*
43 units of 1-family - median asking price $749,000 (12 months supply)*
148 units of condo - median asking price $429,000 (41 months supply)*
118 units of co-op - median asking price $202,000 (11 months supply)*
*Based on the closings in the period 6/1/09 - 5/31/10.
Units closed in the period 6/1/09 to 5/31/10:
16 units of 2-family - median selling price $847,500
43 units of 1 family - median selling price … (0 comments)

market condition: Market condition in Jackson Heights, NY11372 - 05/20/10 02:36 PM
Inventory level of 2-family houses is higher than single-family, condo and co-op indicating the lack of demand of investment properties or the more strict requirement by lenders than before.
Inventory as at 05/20/10:
25 units of 2-family - median asking price $789,000 (25 months supply)*
6 units of 1-family - median asking price $684,000 (9 months supply)*
19 units of condo - median asking price $335,000 (10 months supply)*
171 units of co-op - median asking price $229,000 (13 months supply)*
*Based on the closings in the previous 12-months.
Units closed in previous 12-months period 5/1/09 to 4/30/10:
12 units of 2-family - median selling price $703,500
(0 comments)

market condition: Housing Optimists Are "Not Paying Attention" to the Facts, Says Dean Baker - 05/18/10 08:23 PM
(0 comments)

market condition: The Housing "Recovery" Is Just Another Government Subsidy, Says Whalen - 05/18/10 08:19 PM
(1 comments)

market condition: Market condition in Kew Garden Hills, NY11367 - 05/07/10 03:38 AM
Sale of condo & co-op show improvement over last year. Inventory level is high except condo.
Inventory as at 05/06/10:
10 units of 2-family - median asking price $739,000 (30 months supply)*
29 units of 1-family - median asking price $595,000 (17 months supply)*
17 units of condo - median asking price $319,000 (7 months supply)*
179 units of co-op - median asking price $189,000 (19 months supply)*
*Based on the closings in the first quarter 2010.
Units closed in the first quarter 2010:
1 units of 2-family - median selling price $500,000
5 units of 1 family - median selling price $440,000
7 units of condo - median … (0 comments)

market condition: More job was created in April - 05/07/10 02:54 AM
290,000 jobs was created in April, that is a good news!
However the unemployment rate hits 9.9% (15.3 million persons) because more people going back looking for jobs.
Among the jobless 6.7 million or 45.9% were unemployed for over 27 weeks.
About 2.4 million persons were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.
The unemployment rate in New York-Northern New Jersy-Long Island Metropolitan area are 9.3% in Mar. 2010.
Source: U.S Department of Labor
(0 comments)

market condition: Market condition in Elmhurst, NY11373 - 05/04/10 02:21 AM
Sales of co-op & condo both increased comparing to 2009, inventory is still over a year's supply.
Inventory as at 05/03/10:
44 units of 2-family - median asking price $769,000 (22 months supply)*
17 units of 1-family - median asking price $578,000 (12 months supply)*
62 units of condo - median asking price $404,000 (15 months supply)*
74 units of co-op - median asking price $199,000 (18 months supply)*
*Based on the closings in the first quarter 2010.
Units closed in the first quarter 2010:
6 units of 2-family - median selling price $676,500
4 units of 1 family - median selling price $565,000
12 units of condo - … (0 comments)

market condition: Housing price is still falling - 01/14/10 07:17 AM
There were more units under contracts in Dec 09 than Dec 08, but slowed down from Nov 09.
Median price was still in a down trend.
..................... Inventory ..............*........... Units in contract ...................*....... Months Supply(based on contracts in Dec 09)
 ................ Dec 09 ....... Dec 08 ......*..... Dec 09 ..... Nov 09 ..... Dec 08
Queens ...... 9079 ......... 9822 .......*...... 597 ........ 640 ......... 497 .......*........ 15.2 
Nassau ....... 8028 ......... 8592 .......*...... 707 ........ 782 ........ 554 ........*........ 11.4
Suffolk ..... 11372 ....... 12138 .......*...... 768 ........ 802 ......... 661 ........*....... 14.8
 ..................... Units closed ............................... Median Price on closed properties
................ Dec 09 ......... Dec 08 ..... Nov 09 ....... Dec 09 ........ Dec 08 ........ Nov 09
(0 comments)

market condition: Market condition in Corona NY 11368 - 01/06/10 04:41 PM
Inventory built up again to over 2 years supply.
About 27% of the sales of single & two-family in 2009 was REO and 24% was Short-sale.
Median Selling Price in 2009 declinced over 20% from 2008.
Inventory as at 1/6/10:
136 units of 2 family - median asking price $650,000 (26 months supply)*
27 units of 1 family - median asking price $550,000 (27 months supply)*
45 units of condo - median asking price $329,000 (60 months supply)*
43 units of co-op - median asking price $149,000 (39 months supply)*
*Based on the closings in 2009
Units closed in 2009:
61 units of 2 family - … (0 comments)

 
Kin Tsui (EMC Long Island Realty)

Kin Tsui

Massapequa Park, NY

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EMC Long Island Realty

Address: 5020 Sunrise Hwy, Suite 224, Massapequa Park, NY, 11762

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