Market condition in Elmhurst 11373

Single family was moving well. 2-family & co-op are over-supply. Condo need over 4 years to sell at current pace.

Inventory as at 10/27/09:

41 units of 2 family - median asking price $743,500 (16 months supply)*

20 units of 1 family - median asking price $579,000 (8 months supply)*

54 units of condo - median asking price $400,000 (54 months supply)*

78 units of co-op - median asking price $197,000 (21 months supply)*

*Based on the closings in the first 9 months in 2009

Units closed in the 9 months period from 1/1/09 to 9/30/09:

23 units of 2 family - median selling price $745,000 (volume decreased by 28% year over year)

22 units of 1 family - median selling price $527,500 (volume increased by 22% year over year)

9 units of condo - median selling price $330,000 (volume decreased by 59% year over year)

33 units of co-op - median selling price $180,000 (volume decreased by 28% year over year)

Units closed in the same period last year from 1/1/08 to 9/30/08:

32 units of 2 Family - median selling price $700,000

18 units of 1 Family - median selling price $556,250

22 units of condo - median selling price $359,000

46 units of co-op - median selling price $192,500

Source: MLS of Long Island

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