Suffolk County

Market Update
August 2011
Data for this report was pulled on September 7, 2011

Median Sales Price of Closed Sales

......... 2

Average Sales Price of Closed Sales

......... 3

Median Contract Price of Contract Sales

......... 4

Average Contract Price of Contract Sales

......... 5

Pct. of Original List Price Received at Sale

......... 6

Housing Affordability Index

......... 7

Contract Sales

......... 8

Closed Sales

......... 9

Closed Sales by Price Range

. . . . . . . . . 10

Active Inventory of Homes for Sale

. . . . . . . . . 11

Months Supply of Inventory

. . . . . . . . . 12

Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of September 7, 2011. All data from Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. |

Median Sales Price of Closed Sales

Suffolk County Only

Data for All Property Types

Median Sales Price of Closed Sales by Property Type

8-2009

$355,000

8-2010

8-2011

$336,000 $330,000
$259,000 $260,000 $251,250

$145,000
$123,750 $115,250

-5
5.4%
4%

1.8%
-1
8%

Residential

+0
0.4%
4%

3.4%
-3
4%

14.7%
- 14
7%

Condo-Townhouse

Historical Median Sales Price in Suffolk County

6.9%
-6
9%

Co-Op

Month

Current
Year

Prior
Year

+/

9-2010

$331,750

$335,000

- 1.0%

10-2010

$325,000

$325,000

- 0.0%

11-2010

$320,000

$330,000

- 3.0%

12-2010

$325,000

$325,000

- 0.0%

1-2011

$313,000

$317,000

- 1.3%

2-2011

$300,000

$325,000

- 7.7%

3-2011

$300,000

$305,000

- 1.6%

4-2011

$290,000

$318,000

- 8.8%

5-2011

$314,500

$316,500

- 0.6%

6-2011

$310,000

$335,000

- 7.5%

7-2011
7 2011

$315,000
$315 000

$340,000
$340 000

- 7.4%
7 4%

8-2011

$324,000

$325,000

- 0.3%

12-Month Med

$314,021

$324,708

- 3.3%

All Property Types

$415,000
$390,000
$365,000
$340,000
$315,000
$290,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 2

Average Sales Price of Closed Sales

Suffolk County Only

Data for All Property Types

Average Sales Price of Closed Sales by Property Type

8-2009

8-2010

8-2011

$405,873 $394,124
$383,866
$310,416
$295,114 $298,906

$154,568 $161,952

9%
-2
2.9%

2 6%
- 2.6%

Residential

3%
+1
1.3%

9%
+3
3.9%

8%
+4
4.8%

Condo-Townhouse

Historical Average Sales Price in Suffolk County

$141,657

- 12
5%
12.5%

Co-Op

Month

Current
Year

Prior
Year

+/

9-2010

$396,538

$377,924

+ 4.9%

10-2010

$386,294

$386,490

- 0.1%

11-2010

$369,283

$370,090

- 0.2%

12-2010

$390,588

$365,982

+ 6.7%

1-2011

$361,914

$369,272

- 2.0%

2-2011

$348,499

$382,321

- 8.8%

3-2011

$355,111

$349,267

+ 1.7%

4-2011

$342,877

$360,875

- 5.0%

5-2011

$379,707

$377,272

+ 0.6%

6-2011

$383,816

$376,796

+ 1.9%

7 2011
7-2011

$381,029
$381 029

$409,738
$409 738

- 7.0%
7 0%

8-2011

$373,469

$378,969

- 1.5%

12-Month Avg

$372,427

$375,416

- 0.8%

All Property Types

$480,000
$460,000
$440,000
$420,000
$400,000
$380,000
$360,000
$340,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 3

Median Contract Price of Contract Sales

Suffolk County Only

Median Contract Price of Contract Sales by Property Type

8-2009

8-2010

$338,000 $339,000

Data for All Property Types

8-2011

$328,500

$320,000

$275,000
$254,700

$132,500 $135,495
$112,500

3%
+0
0.3%

-5
6%
5.6%

Residential

+ 29
0%
29.0%

- 16
3%
16.3%

3%
+2
2.3%

Condo-Townhouse

- 17
0%
17.0%

Co-Op

Historical Median Sales Price of Contract Sales in Suffolk County

Month

Current
Year

Prior
Year

+/

9-2010

$310,000

$325,000

- 4.6%

10-2010

$315,000

$335,000

- 6.0%

11-2010

$312,750

$330,000

- 5.2%

12-2010

$312,000

$325,000

- 4.0%

1-2011

$291,250

$309,900

- 6.0%

2-2011

$288,000

$330,000

- 12.7%

3-2011

$299,675

$320,000

- 6.4%

4-2011

$300,000

$329,000

- 8.8%

5-2011

$305,000

$345,000

- 11.6%

6-2011

$307,500

$337,250

- 8.8%

7 2011
7-2011

$314 850
$314,850

$330 000
$330,000

- 4.6%
4 6%

8-2011

$313,500

$335,000

- 6.4%

12-Month Avg

$305,794

$329,263

- 7.1%

All Properties

$400,000

$375,000

$350,000

$325,000

$300,000

$275,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 4

Average Contract Price of Contract Sales

Suffolk County Only

Average Contract Price of Contract Sales by Property Type

8-2009

8-2010

Data for All Property Types

8-2011

$396,279 $388,994
$362,762
$330,893
$302,066

$287,219

$138,300 $144,299

- 1.8%
1 8%

- 6.7%
6 7%

Residential

+ 15
15.2%
2%

- 8.7%
8 7%

4.3%
+4
3%

Condo-Townhouse

$121,156

- 16.0%
16 0%

Co-Op

Historical Average Contract Price of Contract Sales in Suffolk County

Month

Current
Year

Prior
Year

+/

9-2010

$374,746

$375,629

- 0.2%

10-2010

$366,860

$380,725

- 3.6%

11-2010

$344,250

$392,551

- 12.3%

12-2010

$479,468

$378,901

+ 26.5%

1-2011

$360,725

$347,817

+ 3.7%

2-2011

$388,861

$372,162

+ 4.5%

3-2011

$364,646

$379,252

- 3.9%

4-2011

$366,052

$369,962

- 1.1%

5-2011

$359,636

$411,246

- 12.5%

6-2011

$358,924

$398,855

- 10.0%

7 2011
7-2011

$365 138
$365,138

$388 315
$388,315

- 6.0%
6 0%

8-2011

$352,284

$379,262

- 7.1%

12-Month Avg

$373,466

$381,223

- 2.0%

All Property Types

$500,000
$475,000
$450,000
$425,000
$400,000
$375,000
$350,000
$325,000
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 5

Pct. of Original List Price Received at Sale

Suffolk County Only

Pct. of Original List Price Received at Sale by Property Type

8-2009

89.7%

8-2010

90.8%

1.2%
+1
2%

Data for All Property Types

8-2011

90.1%

0.8%
-0
8%

Residential

90.1%

92.4%

2.6%
+2
6%

88.5%

86.8%

4.2%
-4
2%

90.7%
83.6%

4.5%
+4
5%

Condo-Townhouse

7.8%
-7
8%

Co-Op

Historical Pct. of Original List Price Received at Sale for Suffolk County

Month

Current
Year

Prior
Year

+/

9-2010

90.4%

90.4%

- 0.0%

10-2010

89.6%

90.6%

- 1.2%

11-2010

89.6%

90.4%

- 1.0%

12-2010

89.2%

90.5%

- 1.5%

1-2011

88.4%

89.7%

- 1.4%

2-2011

87.7%

90.5%

- 3.1%

3-2011

88.8%

90.0%

- 1.3%

4-2011

88.1%

90.2%

- 2.3%

5-2011

88.8%

90.0%

- 1.3%

6-2011

89.9%

92.0%

- 2.3%

7-2011

90 1%
90.1%

90 7%
90.7%

-0
0.7%
7%

8-2011

89.8%

90.9%

- 1.2%

12-Month Avg

89.2%

90.5%

- 1.4%

All Property Types

94%

92%

90%

88%

86%
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 6

Housing Affordability Index

Suffolk County Only

Data for All Property Types

Housing Affordability Indices by Property Type

8-2009

8-2010

8-2011
374
347
285

132

151

158

+ 14
14.2%
2% + 4
4.5%
5%
Residential

175

189

+8
8.0%
0%

200

+8
8.0%
0%

+ 14
14.6%
6%

Condo-Townhouse

+ 3.1%
3 1%

Co-Op

Historical Housing Affordability Index for Suffolk County

Month

Current
Year

Prior
Year

+/

9-2010

153

142

+ 7.7%

10-2010

157

146

+ 7.4%

11-2010

160

147

+ 9.2%

12-2010

155

143

+ 8.6%

1-2011

154

149

+ 3.3%

2-2011

160

146

+ 9.3%

3-2011

161

155

+ 3.9%

4-2011

167

150

+ 11.8%

5-2011

158

153

+ 3.7%

6-2011

162

146

+ 11.3%

7 2011
7-2011

160

147

+ 8.4%
8 4%

8-2011

160

155

+ 3.1%

12-Month Avg

159

148

+ 7.2%

All Property Types

HAI measures housing affordability for Nassau County. An HAI of 120 means the median family income is 120% of the necessary income to qualify for the median priced home using 20% downpayment, 30-yr fixed rate mortgage.

180
170
160
150
140
130
120
110
100
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 7

Contract Sales
Suffolk County Only

Contract Sales by Property Type

8-2009

8-2010

Data for All Property Types

8-2011

899
819

839

77

- 8.9%

+ 2.4%

Residential

61
- 20.8%

60

38

- 1.6%

25

- 44.7% + 19.0%

Condo-Townhouse

Historical Contract Sales in Suffolk County

21

Month

Current
Year

Prior
Year

+/

9-2010

805

1,026

- 21.5%

10-2010

810

1,090

- 25.7%

11-2010

743

771

- 3.6%

12-2010

675

709

- 4.8%

1-2011

560

612

- 8.5%

2-2011

683

765

- 10.7%

3-2011

906

1,067

- 15.1%

4-2011

875

1,611

- 45.7%

5-2011

952

623

+ 52.8%

6-2011

979

787

+ 24.4%

7 2011
7-2011

905

867

+ 4.4%
4 4%

8-2011

924

901

+ 2.6%

9,817

10,829

- 9.3%

12-Month Total

Co-Op

All Property Types

1,800
1,600
1,400
1,200
1,000
800
600
400
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 8

Closed Sales
Suffolk County Only

Closed Sales by Property Type

8-2009

8-2010

957

Data for All Property Types

8-2011

899
725

82

- 24.2% + 24.0%
Residential

68
- 17.1%

60

22

- 11.8%

+ 18.2%

Condo-Townhouse

Historical Closed Sales in Suffolk County

26

24
- 7.7%

Month

Current
Year

Prior
Year

+/

9-2010

827

934

- 11.5%

10-2010

814

1,048

- 22.3%

11-2010

737

1,048

- 29.7%

12-2010

866

1,106

- 21.7%

1-2011

667

735

- 9.3%

2-2011

658

600

+ 9.7%

3-2011

685

759

- 9.7%

4-2011

637

840

- 24.2%

5-2011

802

834

- 3.8%

6-2011

908

1,625

- 44.1%

7 2011
7-2011

806

693

+ 16
16.3%
3%

8-2011

983

819

+ 20.0%

9,390

11,041

- 15.0%

12-Month Total

Co-Op

All Property Types

1,700
1,500
1,300
1,100
900
700
500
300
1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 9

Closed Home Sales by Price Range

Suffolk County Only

$200,000 and
below

$200,001 to
$300,000

$300,001 to
$350,000

$350,001 to
$450,000

$450,001 to
$700,000

$700,001 and
above

All Price
Ranges

8-2010

163

190

114

142

136

74

819

8-2011

188

248

138

172

165

72

983

+/

+ 15.3%

+ 30.5%

+ 21.1%

+ 21.1%

+ 21.3%

- 2.7%

+ 20.0%

8-2010

8-2011
248

188

190
172

163
138

142

165
136

114
74

72

+ 15.3%

+ 30.5%

+ 21.1%

+ 21.1%

+ 21.3%

- 2.7%

$200,000 and below

$200,001 to $300,000

$300,001 to $350,000

$350,001 to $450,000

$450,001 to $700,000

$700,001 and above

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 10

Active Inventory of Homes for Sale

Suffolk County Only

Inventory of Homes for Sale by Property Type

2-2011

5-2011
12,626

Data for All Date Ranges

Last 6 Months

8-2011
Property
Type

12,293

6 Months
Ago

3 Months
Ago

Current
Month

Residential

11,712

12,710

#N/A

CondoTownhouse

773

811

#N/A

Co-Op

426

456

#N/A

12,911

13,977

#N/A

6-2011

7-2011

11,114

2-2011

5-2011

8-2011

Residential

733

785

766

387

445

432

2-2011

5-2011

8-2011

2-2011

5-2011

8-2011

Condo-Townhouse

Historical Inventory in Suffolk County

All Properties

Co-Op

All Property Types

14,500

14,000

13,500

13,000

12,500

12,000

11,500

11,000
8-2010

9-2010

10-2010

11-2010

12-2010

1-2011

2-2011

3-2011

4-2011

5-2011

8-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 11

Months Supply of Inventory

Suffolk County Only

Months Supply of Inventory by Property Type

2-2011

5-2011

Last 6 Months

Data for All Date Ranges

8-2011
Property
Type

27.6

18.1
14.4

2-2011

5-2011

15.6
13.1

8-2011

Residential

2-2011

16.5

15.4

18.0

12.8

5-2011

8-2011

2-2011

Condo-Townhouse

5-2011

8-2011

6 Months
Ago

3 Months
Ago

Current
Month

Residential

18.1

14.4

15.6

CondoTownhouse

13.1

15.4

12.8

Co-Op

27.6

16.5

18.0

All Properties

17.9

14.6

15.5

Co-Op

Historical Months Supply of Inventory in Suffolk County

All Property Types

25.0

22.5

20.0

17.5

15.0

12.5

10.0

7.5
8-2010

9-2010

10-2010

11-2010

12-2010

1-2011

2-2011

3-2011

4-2011

5-2011

6-2011

7-2011

8-2011

All data from the Multiple Listing Service of Long Island. Powered by 10K Research and Marketing. | 12