Real LI
Buying and selling real estate in the communities of Long Island
For-sale inventory drops on much of LI
The for-sale home inventory in the Nassau and western Suffolk dropped 10.2 percent in the second quarter when compared with the same time last year, according to Miller Samuel appraiser reports commissioned by Prudential Douglas Elliman Real Estate.
That fall runs counter to the growing stockpile of homes for sale in this weakened economy. For example, the reports show, the number of for-sale listings in the Hamptons/North Fork market went up 23.6 percent in the second quarter compared to a year ago.
The head of the Manhattan appraisal firm, Jonathan Miller, said the drop may be the result of homeowners keeping out of the housing market until prices improve. From the first to the second quarter, the inventory for Nassau and western Suffolk rose 2.4 percent and fell .1 percent for the Hamptons/North Fork, data show.Tags: Long Island housing market , Prudential Douglas Elliman Real Estate , Jonathan Miller
Search recent home sales on LI.