Kin Tsui

The inventory level don't look so good except single family. For co-op an average agent may need an average time of almost 3 years to sell: at this difficult time a seller should hire an experienced agent who specialized in selling co-op.

Inventory as at 07/16/09:

17 units of 2-family - median asking price $649,000 (26 months supplies)

16 units of 1-family - median asking price $554,500 (5 months supplies)

23 units of condo - median asking price $289,000 (23 months supplies)

152 units of co-op - median asking price $185,000 (35 months supplies)

Units closed in the first half year of 2009 - 01/01/09 to 06/30/09:

4 units of 2-family - median selleing price $512,500

18 units of 1-family - median selling price $462,500

6 units of condo - median asking price $327,500

26 units of co-op - median selling price $156,500

Units closed in the first half year of 2008 - 01/01/08 to 06/30/08:

3 units of 2-Family - median selling price $765,000

28 units of 1- Family - median selling price $500,000

9 units of condo - median asking price $275,000

56 units of co-op - median selling price $173,000

Source: MLS of Long Island

Based on the first six month's data, the inventory level is over 12 months. Single family and 2-family is just half the volume of same period last year. Co-op is what I specialized, the volume shrank about 33%.

Inventory as at 07/15/09:

39 units of 2-family - median asking price $888,000 (18 months supplies)

28 units of 1-family - median asking price $657,000 (12 months supplies)

52 units of condo - median asking price $471,500 (20 months supplies)

80 units of co-op - median asking price $239,000 (15 months supplies)

Units closed in the first half year of 2009 - 01/01/09 to 06/30/09:

13 units of 2-family - median selleing price $738,000

14 units of 1-family - median selling price $593,000

16 units of condo - median asking price $342,000

32 units of co-op - median selling price $215,500

Units closed in the first half year of 2008 - 01/01/08 to 06/30/08:

26 units of 2-Family - median selling price $737,500

33 units of 1- Family - median selling price $570,000

19 units of condo - median asking price $373,000

48 units of co-op - median selling price $210,000

Source: MLS of Long Island

Based on the first six month's data, the inventory level is very high and the median asking price is too high.

Inventory as at 07/15/09:

18 units of 2-family - median asking price $964,000 (54 months supplies, 19% above median sale price)

32 units of 1-family - median asking price $749,000 (17 months supplies, 18% above median sale price)

68 units of condo - median asking price $399,000 (51 months supplies)

112 units of co-op - median asking price $219,444 (22 months supplies)

Units closed in the first half year of 2009 - 01/01/09 to 06/30/09:

2 units of 2-family - median selleing price $810,000

11 units of 1-family - median selling price $635,000

8 units of condo - median asking price $359,000

31 units of co-op - median selling price $180,000

Units closed in the first half year of 2008 - 01/01/08 to 06/30/08:

15 units of 2-Family - median selling price $830,000

22 units of 1- Family - median selling price $682,500

26 units of condo - median asking price $377,500

71 units of co-op - median selling price $195,500

Source: MLS of Long Island

I was going to Jamaica to take some pictures on a house for a BPO order. The accident happened at the intersection of Grand Central Parkway & 164 St around 5:45 P.M.

The area is Jamaica, also know as Jamaica Estates with zip code 11432.

St John University and Queens Hospital Center are located in the area. Our office was in the neighborhood, but was moved to Flushing.

There were 40 transactions in the area in the first half of 2009 (as recorded in MLS); 9 were REO. Price ranged from $170,000 to $985,000. Median price was $505,000.

It is located at 29-49 137th St - 1 bedroom 1 bath about 700 square feet.

Sold for $148,000 in July, 2009.

Linden Towers Co-op is a 6-stories building built in 1961.

The building is located on 137 Street between Whitestone Expressway and 31 Road.

The monthly maintenance Fee $430 includes electric, gas, water, heat and real estate tax.

There is a management office on the premises.