Market condition in Jackson Heights, NY11372

Inventory level of 2-family houses is higher than single-family, condo and co-op indicating the lack of demand of investment properties or the more strict requirement by lenders than before.

Inventory as at 05/20/10:

25 units of 2-family - median asking price $789,000 (25 months supply)*

6 units of 1-family - median asking price $684,000 (9 months supply)*

19 units of condo - median asking price $335,000 (10 months supply)*

171 units of co-op - median asking price $229,000 (13 months supply)*

*Based on the closings in the previous 12-months.

Units closed in previous 12-months period 5/1/09 to 4/30/10:

12 units of 2-family - median selling price $703,500

8 units of 1 family - median selling price $457,500

21 units of condo - median selling price $290,000

147 units of co-op - median selling price $198,000

Units under contract in April 2010:

2 units of 2-family.

2 units of 1-family.

1 unit of condo.

36 units of co-op.

Date source: MLS of Long Island

Disclaimer: Data represented transactions reported to MLS only, it didn't reflect all transactions in the area.