[click to open report]
The 4Q 2010 Long Island Market Overview that I author for Prudential Douglas Elliman was released yesterday.
Other reports we prepare can be found here.
The 4Q 2010 data and a series of charts are updated with the 4Q 2010 data.
Press coverage can be found here.
Since the neighborhood data is too thin to build a reliable trend line, we have grouped neighborhoods by logical regions based on housing stock.
An excerpt
…There were 4,252 sales in the fourth quarter, 28.4% below 5,935 in the prior year quarter and 2.1% below 4,343 in the prior quarter. The sharp decline from the same period last year was due primarily to the federal homebuyer tax credit in place in the second half of 2009. The intention of the program was to increase the number of sales for first time buyers in 2009. As a result, comparison with the prior year quarter was a period that saw the highest number of sales of the last four years. Despite the decrease in sales after the expiration of the expanded federal tax credit in April 2010, listing inventory fell 3.6% to 18,742 from 19,450 in the prior year quarter and fell 13.5% from 21,670 in the prior quarter. This prior quarter inventory drop was seasonal and consistent with the 7-year 14.6% average third to fourth quarter inventory decline over the same period…
4Q 2010 Long Island Market Overview [Miller Samuel]
Long Island housing market chart gallery [Miller Samuel]
Long Island custom data tables [Miller Samuel]
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