Market condition in Elmhurst 11373

By
Real Estate Agent with EMC Long Island Realty

In Elmhurst there are too many new condos, at the pace of the first months of this year, it will take over 8 years to sell. It is a long road to recovery.

Inventory as at 07/17/09:

44 units of 2-family - median asking price $772,500 (19 months inventory)

23 units of 1-family - median asking price $589,000 (9 months inventory)

65 units of condo - median asking price $425,000 (8 years inventory)

74 units of co-op - median asking price $199,000 (21 months inventory)

Units closed in the first half year of 2009 - 01/01/09 to 06/30/09:

14 units of 2-family - median selleing price $700,000

16 units of 1-family - median selling price $520,000

4 units of condo - median selling price $200,000

21 units of co-op - median selling price $185,000

Units closed in the first half year of 2008 - 01/01/08 to 06/30/08:

21 units of 2-Family - median selling price $690,000

11 units of 1- Family - median selling price $540,000

20 units of condo - median asking price $359,000

26 units of co-op - median selling price $187,500

Source: MLS of Long Island

Posted by

Selling your property?

Text Kin 917-923-8838

Email: Kin@KinRealEstate.com

 

 

Comments (2)

michelangelo vasco
mvp realty inc. - Manhattan, NY

Kim, how many Realtors are there in Elmhurst and the surrounding areas? I bet hundreds if not thousands.  they can't sell 65 condos...how pathetic

Jul 18, 2009 02:55 PM
Anonymous
Robert

How many Condo's with Tax abatements are on the market in ELmhurst 11373?  Also, how do the tax abatements work?

Jul 31, 2009 06:56 AM
#2