Long Island Real Estate continues to improve

As August came to a close, under contract statistics show a continued improvment in the Long Island Real Estate market. 1910 under contracts were recorded in Aug 2009 in Nassau County vs 1676 in 2008 ans 1900 in 2007. Year to date vs 2008 under contracts are up in the county 8%. In Suffolk County 2200 under contacts in August 2009 vs 1794 in 2008. Inventory continues to drop and many agents report multiple offers on existing inventory. In the 8 towns that Century 21 Prevete does business under contract activity is up 13% vs 2008. As the window closes on the $8000 rebate for first time buyers we will see if the market can continue to improve in the last quarter.