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Median closing prices LI homes rise
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Median closing prices LI homes rise
http://www.newsday.com/business/ny-bzprice0508,0,7008718.story
Median closing prices on homes on Long Island and in Queens have gone up for the first time in months, just as the house-buying season goes into full swing.
According to the Multiple Listing Service of Long Island, which also covers Queens, it went up in April to $415,000 from $409,000 in March. Some agents had predicted the median closing figure would fall to a four-year low of $400,000.
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Posted 5/8/08 8:36 AM  |
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Prudential Douglas Elliman Real Estate
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sunnyplus3
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Member since 11/05 8749 total posts
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Re: Median closing prices LI homes rise
I think the numbers are skewed all over the place
someone just posted this yesterday which doesn't seem to be accurate according to your article
A few weeks ago I posted that MLSLI was over 40,000...I've been checking it daily since the site was started but someone here said it was over 40,000 last Spring( which I do not recall at all)
I think there is very little 100% accurate info available right now.
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| Posted 5/8/08 8:45 AM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Median closing prices LI homes rise
Actually, both articles could be fairly accurate. The chart is just for Nassau. The article I quoted was Suffolk, Nassau, and Queens. The chart stops in March, and the other article mentions March and April.
I never fully believe stats, but it's interesting to see what some possible trends are... The chart shows monthly fluctuations, which is what I would expect. The other article is just highlighting one particular bump.
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| Posted 5/8/08 8:53 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Median closing prices LI homes rise
agreed, i missed the part about your article having other counties involved.
I still think info is skewed & not 100% consistent. The median sale price in Nassau the end of 2005 was 515,000, suffolk was 490,000
IMO that is a signifigant change from where we are today. We just closed on an investment property that appraised in 2005 for $120,000 more than we just paid.
In some areas & for some homes the difference is huge.
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| Posted 5/8/08 8:59 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Median closing prices LI homes rise
Posted by KellyFG
I still think info is skewed & not 100% consistent. The median sale price in Nassau the end of 2005 was 515,000, suffolk was 490,000
Where are you getting this info?
Newsday's article is actually pretty accurate if you figure it is taking the Median sales figure for all three Long Island boroughs (Queens, Nassau, Suffolk).
They are saying the March Median price was 409k. Well looking at MLSLI the Nassau median was about 445k, the Queens median was about 420k, and the Suffolk median was about 360k.
If you total up everything, that can very well equal 409k.
People can believe whatever they want, but I don't see how these numbers are skewed. The facts are the facts.
MLSLI will probably make their April sales figures public in a few days. According to Newsday who claims they already have the figures from MLSLI, the numbers should be up. We shall see.
ETA: Actually I just noticed you were talking Median sales figures.... not average so they could be more accurate. Where did you get your figures from?
Message edited 5/8/2008 11:30:56 AM.
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| Posted 5/8/08 11:26 AM |
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