Queens County

Market Update
August 2011
Data for this report was pulled on September 7, 2011

Median Sales Price of Closed Sales

......... 2

Average Sales Price of Closed Sales

......... 3

Median Contract Price of Contract Sales

......... 4

Average Contract Price of Contract Sales

......... 5

Pct. of Original List Price Received at Sale

......... 6

Housing Affordability Index

......... 7

Contract Sales

......... 8

Closed Sales

......... 9

Closed Sales by Price Range

. . . . . . . . . 10

Active Inventory of Homes for Sale

. . . . . . . . . 11

Months Supply of Inventory

. . . . . . . . . 12

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of September 7, 2011. All data from Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. |

Median Sales Price of Closed Sales
Queens County Only

Data for All Property Types

Median Sales Price of Closed Sales by Property Type
8-2009

8-2010

$480,000
$440,000

8-2011

$459,000

$343,000 $340,000
$325,000

$210,000 $195,500 $195,000

-8
8.3%
3%

4.3%
+4
3%

Residential

+5
5.5%
5%

0.9%
-0
9%

6.9%
-6
9%

Condo-Townhouse

Historical Median Sales Price in Queens County

0.3%
-0
3%

Co-Op

Month

Current
Year

Prior
Year

+/–

9-2010

$353,290

$340,000

+ 3.9%

10-2010

$350,000

$348,500

+ 0.4%

11-2010

$385,000

$350,000

+ 10.0%

12-2010

$355,000

$338,944

+ 4.7%

1-2011

$365,000

$365,000

- 0.0%

2-2011

$355,000

$348,850

+ 1.8%

3-2011

$343,400

$335,000

+ 2.5%

4-2011

$350,000

$325,000

+ 7.7%

5-2011

$340,000

$320,000

+ 6.3%

6-2011

$344,000

$330,000

+ 4.2%

7-2011
7 2011

$340,000
$340 000

$355,000
$355 000

- 4.2%
4 2%

8-2011

$358,610

$350,000

+ 2.5%

12-Month Med

$353,275

$342,191

+ 3.2%

All Property Types

$450,000
$425,000
$400,000
$375,000
$350,000
$325,000
$300,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 2

Average Sales Price of Closed Sales
Queens County Only

Data for All Property Types

Average Sales Price of Closed Sales by Property Type
8-2009

8-2010

8-2011

$498,839 $482,638 $487,275

$347,536 $357,866 $360,241

$221,198 $221,890 $219,691

2%
-3
3.2%

1 0%
+ 1.0%

Residential

3 0%
+ 3.0%

0 7%
+ 0.7%

0 3%
+ 0.3%

Condo-Townhouse

Historical Average Sales Price in Queens County

1 0%
- 1.0%

Co-Op

Month

Current
Year

Prior
Year

+/–

9-2010

$392,392

$389,489

+ 0.7%

10-2010

$399,293

$391,509

+ 2.0%

11-2010

$412,061

$380,385

+ 8.3%

12-2010

$402,118

$385,887

+ 4.2%

1-2011

$399,524

$401,007

- 0.4%

2-2011

$393,009

$395,980

- 0.8%

3-2011

$376,803

$386,842

- 2.6%

4-2011

$393,037

$383,457

+ 2.5%

5-2011

$387,457

$369,914

+ 4.7%

6-2011

$384,771

$376,975

+ 2.1%

7 2011
7-2011

$384,534
$384 534

$393,088
$393 088

- 2.2%
2 2%

8-2011

$394,966

$401,115

- 1.5%

12-Month Avg

$393,330

$387,971

+ 1.4%

All Property Types

$470,000
$450,000
$430,000
$410,000
$390,000
$370,000
$350,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 3

Median Contract Price of Contract Sales
Queens County Only

Median Contract Price of Contract Sales by Property Type
8-2009

8-2010

$450,000

Data for All Property Types

8-2011

$432,450 $440,000
$352,500
$327,000 $315,000

$201,000 $196,000

9%
-3
3.9%

+1
7%
1.7%

Residential

-3
7%
3.7%

+ 11
9%
11.9%

-2
5%
2.5%

Condo-Townhouse

$180,000

-8
2%
8.2%

Co-Op

Historical Median Sales Price of Contract Sales in Queens County

Month

Current
Year

Prior
Year

9-2010

$325,000

$350,000

- 7.1%

10-2010

$350,000

$346,500

+ 1.0%

11-2010

$338,500

$335,000

+ 1.0%

12-2010

$322,000

$322,500

- 0.2%

1-2011

$319,650

$330,000

- 3.1%

2-2011

$330,000

$320,000

+ 3.1%

3-2011

$300,000

$310,000

- 3.2%

4-2011

$310,000

$319,000

- 2.8%

5-2011

$332,800

$377,500

- 11.8%

6-2011

$347,500

$360,000

- 3.5%

7 2011
7-2011

$321 250
$321,250

$350 000
$350,000

- 8.2%
8 2%

8-2011

$343,000

$356,000

- 3.7%

12-Month Avg

$328,308

$339,708

- 3.4%

+/–

All Properties

$425,000

$400,000

$375,000

$350,000

$325,000

$300,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 4

Average Contract Price of Contract Sales
Queens County Only

Average Contract Price of Contract Sales by Property Type
8-2009

8-2010

Data for All Property Types

8-2011

$485,860 $470,004 $486,512
$389,079
$328,999 $323,774
$215,726 $218,741

-3
3.3%
3%

+ 3.5%
3 5%

Residential

- 1.6%
1 6%

+ 20.2%
20 2%

+ 1.4%
1 4%

Condo-Townhouse

$198,989

- 9.0%
9 0%

Co-Op

Historical Average Contract Price of Contract Sales in Queens County

Month

Current
Year

Prior
Year

+/–

9-2010

$382,820

$391,175

- 2.1%

10-2010

$386,793

$386,171

+ 0.2%

11-2010

$369,695

$390,199

- 5.3%

12-2010

$363,360

$378,175

- 3.9%

1-2011

$394,147

$388,681

+ 1.4%

2-2011

$428,798

$377,514

+ 13.6%

3-2011

$348,470

$362,768

- 3.9%

4-2011

$356,872

$360,442

- 1.0%

5-2011

$469,396

$410,592

+ 14.3%

6-2011

$391,331

$398,330

- 1.8%

7 2011
7-2011

$368 807
$368,807

$390 918
$390,918

- 5.7%
5 7%

8-2011

$386,415

$390,931

- 1.2%

12-Month Avg

$387,242

$385,491

+ 0.5%

All Property Types

$480,000
$455,000
$430,000
$405,000
$380,000
$355,000
$330,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 5

Pct. of Original List Price Received at Sale
Queens County Only

Pct. of Original List Price Received at Sale by Property Type
8-2009

91.5%

8-2010

91.9%

0.4%
+0
4%

Data for All Property Types

8-2011

90.5%

1.5%
-1
5%

Residential

89.7%

89.6%

- 0.1%
0 1%

91.5%

90.3%

+ 2.1%
2 1%

91.5%

+ 1.4%
1 4%

Condo-Townhouse

91.3%

- 0.2%
0 2%

Co-Op

Historical Pct. of Original List Price Received at Sale for Queens County

Month

Current
Year

Prior
Year

+/–

9-2010

90.9%

90.6%

+ 0.4%

10-2010

90.7%

90.9%

- 0.2%

11-2010

91.8%

90.1%

+ 1.9%

12-2010

91.4%

90.9%

+ 0.6%

1-2011

89.6%

90.7%

- 1.3%

2-2011

90.4%

91.2%

- 0.9%

3-2011

90.0%

91.3%

- 1.3%

4-2011

90.3%

90.7%

- 0.4%

5-2011

89.8%

91.3%

- 1.6%

6-2011

90.8%

91.8%

- 1.1%

7-2011

90 7%
90.7%

91 5%
91.5%

-0
0.8%
8%

8-2011

90.9%

91.6%

- 0.8%

12-Month Avg

90.6%

91.0%

- 0.5%

All Property Types

92.0%
91.5%
91.0%
90.5%
90.0%
89.5%
89.0%
88.5%
88.0%
87.5%
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 6

Housing Affordability Index
Queens County Only

Data for All Property Types

Housing Affordability Indices by Property Type
8-2009

8-2010

8-2011

241

248

210

143
118

148

154

117

100

+ 18
18.0%
0%

- 1.0%
1 0%

Residential

+ 3.5%
3 5%

+ 2.9%
2 9%

+ 18.5%
18 5%

Condo-Townhouse

+ 0.6%
0 6%

Co-Op

Historical Housing Affordability Index for Queens County

Month

Current
Year

Prior
Year

+/–

9-2010

145

140

+ 3.1%

10-2010

147

137

+ 7.0%

11-2010

136

139

- 2.5%

12-2010

144

138

+ 4.2%

1-2011

134

131

+ 2.2%

2-2011

137

137

+ 0.1%

3-2011

142

142

+ 0.2%

4-2011

141

147

- 3.6%

5-2011

148

151

- 2.3%

6-2011

148

148

+ 0.1%

7 2011
7-2011

149

142

+ 5.2%
5 2%

8-2011

146

146

+ 0.6%

12-Month Avg

143

142

+ 1.1%

All Property Types

HAI measures housing affordability for Nassau County. An HAI of 120 means the median family income is 120% of the necessary income to qualify for the median priced home using 20% downpayment, 30-yr fixed rate mortgage.

160
150
140
130
120
110
100
90
80
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 7

Contract Sales
Queens County Only

Contract Sales by Property Type
8-2009

461

8-2010

439

Data for All Property Types

8-2011
Month

Current
Year

Prior
Year

+/–

9-2010

635

858

- 26.0%

10-2010

647

833

- 22.3%

11-2010

681

653

+ 4.3%

12-2010

647

587

+ 10.2%

1-2011

528

545

- 3.1%

2-2011

609

621

- 1.9%

3-2011

746

820

- 9.0%

4-2011

761

1,052

- 27.7%

5-2011

718

579

+ 24.0%

6-2011

800

666

+ 20.1%

7 2011
7-2011

682

647

+ 5.4%
5 4%

- 28.6% + 32.6%

8-2011

725

668

+ 8.5%

Co-Op

12-Month Total

8,179

8,529

- 4.1%

425

241

228
172

51

- 4.8%

- 3.2%

Residential

57

72

+ 11.8% + 26.3%
Condo-Townhouse

Historical Contract Sales in Queens County

All Property Types

1,100
1,000
900
800
700
600
500
400
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 8

Closed Sales
Queens County Only

Closed Sales by Property Type
8-2009

8-2010

Data for All Property Types

8-2011

485
373

372

185

60

- 23.1%

- 0.3%

Residential

58

- 3.3%

155

45

- 22.4%

- 16.2%

Condo-Townhouse

Historical Closed Sales in Queens County

187

+ 20.6%

Month

Current
Year

Prior
Year

+/–

9-2010

647

716

- 9.6%

10-2010

599

799

- 25.0%

11-2010

587

733

- 19.9%

12-2010

603

930

- 35.2%

1-2011

552

600

- 8.0%

2-2011

567

499

+ 13.6%

3-2011

684

640

+ 6.9%

4-2011

552

667

- 17.2%

5-2011

603

632

- 4.6%

6-2011

724

1,135

- 36.2%

7 2011
7-2011

635

600

+5
5.8%
8%

8-2011

604

586

+ 3.1%

7,357

8,537

- 13.8%

12-Month Total

Co-Op

All Property Types

1,200
1,100
1,000
900
800
700
600
500
400
300
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 9

Closed Home Sales by Price Range
Queens County Only

$200,000 and
below

$200,001 to
$300,000

$300,001 to
$350,000

$350,001 to
$450,000

$450,001 to
$700,000

$700,001 and
above

All Price
Ranges

8-2010

107

135

58

86

146

54

586

8-2011

114

125

56

98

162

49

604

+/–

+ 6.5%

- 7.4%

- 3.4%

+ 14.0%

+ 11.0%

- 9.3%

+ 3.1%

8-2010

8-2011
162
146
135
125

107

114
98
86
58

56

54

49

+ 6.5%

- 7.4%

- 3.4%

+ 14.0%

+ 11.0%

- 9.3%

$200,000 and below

$200,001 to $300,000

$300,001 to $350,000

$350,001 to $450,000

$450,001 to $700,000

$700,001 and above

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 10

Active Inventory of Homes for Sale
Queens County Only

Inventory of Homes for Sale by Property Type
3-2011

5,704

6-2011
6,096

9-2011
Property
Type

5,966

2,756
1,088

2-2011

5-2011

Data for All Date Ranges

Last 6 Months

8-2011

1,066

2-2011

Residential

5-2011

3 Months
Ago

Current
Month

Residential

5,704

6,096

5,966

CondoTownhouse

1,088

1,066

1,014

Co-Op

2,756

3,031

3,052

All Properties

9,548

10,193

10,032

6-2011

7-2011

1,014

8-2011

2-2011

Condo-Townhouse

Historical Inventory in Queens County

3,052

3,031

6 Months
Ago

5-2011

8-2011

Co-Op

All Property Types

11,500

11,000

10,500

10,000

9,500

9,000

8,500
8-2010

9-2010

10-2010

11-2010

12-2010

1-2011

2-2011

3-2011

4-2011

5-2011

8-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 11

Months Supply of Inventory
Queens County Only

Months Supply of Inventory by Property Type
2-2011

5-2011

Last 6 Months

Data for All Date Ranges

8-2011
19.0

14.9

2-2011

13.8

5-2011

14.6

14.3

8-2011

Residential

2-2011

Property
Type

17.1

16.7

5-2011

8-2011

13.8

2-2011

Condo-Townhouse

5-2011

6 Months
Ago

3 Months
Ago

Current
Month

Residential

14.9

13.8

14.6

CondoTownhouse

16.7

19.0

14.3

Co-Op

17.1

13.8

13.9

All Properties

15.7

14.2

14.4

13.9

8-2011

Co-Op

Historical Months Supply of Inventory in Queens County

All Property Types

19.0

17.0

15.0

13.0

11.0

9.0
8-2010

9-2010

10-2010

11-2010

12-2010

1-2011

2-2011

3-2011

4-2011

5-2011

6-2011

7-2011

8-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 12