Corona, NY

Corona 1 bedroom co-op at 58-03 Calloway St, #6P. Built in 1968. About 750 square feet. Maintenance $596 which included gas, water, heat & real estate tax.

The 6-stories building is managed by Mark Greenberg.

The location is within walking distance to Queens Center Mall, Rego Park Mall & Rego Center.

It is sold for $107,000 in August, 2010.

The unit is located at 99-14 59 Ave, #2L, Corona, NY 11368.

It was closed in December, 2009. Sold for $73,000.

The building was built 1961, with laundry room, sitting area, garage & parking lot (space is not available right away of course). It was managed by Andrea Bunis Management.

The unit is about 550 square feet. Maintenance is $492 including utilities.

View the virtual tour here .

Inventory built up again to over 2 years supply.

About 27% of the sales of single & two-family in 2009 was REO and 24% was Short-sale.

Median Selling Price in 2009 declinced over 20% from 2008.

Inventory as at 1/6/10:

136 units of 2 family - median asking price $650,000 (26 months supply)*

27 units of 1 family - median asking price $550,000 (27 months supply)*

45 units of condo - median asking price $329,000 (60 months supply)*

43 units of co-op - median asking price $149,000 (39 months supply)*

*Based on the closings in 2009

Units closed in 2009:

61 units of 2 family - median selling price $470,000 (volume decreased by 9% year over year)

12 units of 1 family - median selling price $302,700 (volume increased by 9% year over year)

9 units of condo - median selling price $235,000 (volume decreased by 30% year over year)

13 units of co-op - median selling price $145,000 (volume decreased by 50% year over year)

Units closed in 2008:

67 units of 2 family - median selling price $620,000

11 units of 1 family - median selling price $430,000

13 units of condo - median selling price $310,000

26 units of co-op - median selling price $150,500

Source: MLS of Long Island

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

The market is extremely over-supplied. We are talking about years' supplies. 100% of single family and 35% of 2-family sold were foreclosure. Do you see any "Green Shoot"?

Inventory as at 07/16/09:

184 units of 2-family - median asking price $659,000 (3 years supplies)

38 units of 1-family - median asking price $497,000 (6 years supplies)

75 units of condo - median asking price $315,000 (18.75 years supplies)

53 units of co-op - median asking price $162,000 (3.31 years supplies)

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

31 units of 2-family - median selleing price $460,000 (11 units were REO)

3 units of 1-family - median selling price $320,000 (All were REO)

2 units of condo - median asking price $234,000

8 units of co-op - median selling price $148,750

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

33 units of 2-Family - median selling price $662,000

1 units of 1- Family - median selling price $460,000

2 units of condo - median asking price $278,750

14 units of co-op - median selling price $141,000

Source: MLS of Long Island