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The Elliman Report: Queens Sales 3Q 2011 was published today. It is part of a report series that we have authored for Douglas Elliman since 1994.
You can build your own custom data tables with the new data. I’m about to launch a site redesign and am rejiggering the way I handle charts (automatic) so I haven’t been very diligent in updating them on my site – sorry about that.
Here’s an excerpt from the report:
The number of sales for the quarter was 2,743, 11.8% below the prior year quarter total of 3,110 sales, but 16.2% higher than 2,361 sales in the second quarter. Listing inventory fell 15.9% to 10,305 from 12,255 in the prior year quarter. The lower number of sales closely matched the decline in listings resulting in a nominal decline in the monthly absorption rate, which is the number of months to sell all existing inventory at the current pace of sales. The monthly absorption rate was at was at 11.3 months, 4.2% faster from 11.8 months at this time last year. The general stability of the monthly absorption rate was consistent with the trends seen in the listing discount and days on market. The listing discount–the percent difference between the list price and time of sale and the sales price–was essentially unchanged at 6.6% as compared to 6.7% of the same period last year. It took about 8 days longer on average to sell a property as compared to last year, resulting in a modest total of 108 days in the third quarter.
Other reports we prepare can be found here.
The Elliman Report: Queens Sales 3Q 2011 [Miller Samuel]
Queens custom data tables [Miller Samuel]
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