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		4Q - 2009 - Queens Market Report To view the article in its entirety please click here
		3Q - 2009 - Queens Market Report After below trend sales activity in the first two quarters of 2009, there was a release of pent-up demand as buyers who had been sitting on the fence” began to make purchase decisions en masse in the third quarter. This was prompted by a rapidly rising stock market that improved consumer confidence, low mortgage rates and newly found affordability as a result of falling housing prices. There were 2,789 sales in the current quarter, down 13.9% from 3,240 units in the prior year quarter, but jumped 31% from 2,129 units in the prior quarter. The surge in the number of sales resulted in a decline in listing inventory. There were 9,797 listings on the market in the third quarter, down 13.9% from 11,377 in the prior year quarter and down 3% from the 10,100 listings available at the end of the prior quarter.A portion of the decline from the prior year quarter was attributable to sellers pulling their listings from the market with the strategy of relisting when market conditions improve. To view the article in its entirety please click here
		2Q -2009 - Queens Market Report The average sales price of a Queens property that closed during the quarter was $396,756, down 11.5% from the $448,397 average sales price during the same period last year. Following the same pattern, median sales price for the second quarter was To view the article in its entirety please click here
		1Q -2009 - Queens Market Report Dear Customer, I am pleased to provide you with the highlights of the Queens Market Overview for the first quarter of 2009. We are providing the Queens results with expanded coverage of the borough by region as well as property type. Jonathan Miller, an independent appraiser and our partner in preparing the analysis, uses closed data as recorded by the various governmental authorities to create the report each quarter. The first quarter can be characterized by a continued disconnect between buyers and sellers, resulting in a lower number of sales and an increase in discount from list price. Properties which have been properly priced continue to sell as we see a rise in contracts signed as well as attendance at open houses and our website activity has steadily increased. Most of the Queens residential sales market continues to see an overall reduction in sales, which was spread across all property types and regions. The condo market, which resides mainly in the Northwest region of Queens was buoyed by new development sales that went to contract 12 to 18 months ago, showed double digit price gains as compared to this time last year and last quarter. The number of condo sales, however, is off sharply. New development condo sales are down 63.4% while re-sale condo sales are down 53.7%, in line with the overall market which shows a 52.2% decline in sales. Overall the Queens market shows a modest decline in both price indicators, as compared to this time last year and prices remain relatively flat as compared to last quarter. Queens, unlike Manhattan, saw price decrease almost two years ago, so we anticipate a flattening of the market. Historically low mortgage rates and government assistance for first time buyers should also help increase sales moving forward. For full details on the overall market and each area separately, go to prudentialelliman.com or contact me at your convenience. Now more than ever before, it is critical that you make an informed decision on your real estate transactions. I would welcome an opportunity to assist you. To view the article in its entirety please click here
		4Q - 2008 - Queens Market Report To view the article in its entirety please click here
		3Q - 2008 - Queens Market Report Both price indicators have declined nearly every quarter since the first quarter of 2007. Median sales price in the current quarter is $400,000, down 11.4% from the $451,250 of the prior year quarter and down 20% from the $480,000 market peak in first quarter 2007. Average sales price reached $436,575 this quarter, down 8.8% from the prior year quarter average sales price of $478,752 and down 11.2% from the $485,455 average sales price for the first quarter of 2007. The market trends by quintiles showed a wide range of price trends. The entry level or first quintile was $175,000 and showed no change in median sales price from the prior year quarter. The weakest segment was the third or middle quintile, that saw a 25.8% decline in median sales price to $335,000 from $451,250 in the same period last year. To view the article in its entirety please click here

Market reports prepared for Prudential Douglas Elliman by Miller Samuel Inc.

Jonathan Miller
President & CEO
Miller Samuel
Real Estate Appraisers & Consultants
About Jonathan
http://www.millersamuel.com

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All information regarding a property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.

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