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Elliman Report: Long Island Sales 2Q 2017

The Long Island housing market, excluding The Hamptons and North Fork, experienced rising sales and falling inventory for an unprecedented ten consecutive quarters. There were 6,690 sales in the second quarter, up 5.8% from the prior year quarter and the most second quarter sales in twelve years. Listing inventory fell 16.3% to 13,391 from the prior year quarter to the lowest second quarter supply in twelve years. Because sales were overpowered by demand, the pace of the market was the fastest second quarter in the 14 years of this series…

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