The closed median home price on Long Island which includes Nassau, Suffolk, and Queens, in December 2011 was $336,000 representing a 6% decline over the year prior. Nassau County reported a closed median home price of $385,000 representing a 2.5% decline from $395,000 reported in December 2010. Suffolk County reported a closed median home price of $305,000 compared to $325,000 in December 2010. Queens reported a closed median home price of $325,000 representing a decline of 8.5% over prices reported a year ago.
Housing demand continues to strengthen and buyers are active. The number of contracted sales in December 2011 was 5.2% higher than in December 2010. This is a positive sign for the market.
Inventory is off by 9.9 compared to November 2011, but the available inventory figure this month is only less than 1% compared to a year ago.
Homes for sale in Baldwin, NY, continues to be positive.