…There were 5,141 sales in the third quarter,
18.4% above the 4,343 total in the prior year
quarter, and 22.3% above the prior quarter
total of 4,205. The current total is the fourth
highest quarter in three years, led by three
quarters significantly impacted by the federal
homebuyers tax credit from the second half of
2009 through early 2010. Year-over-year, signed
contracts were up 8.6% to 4,813 from 4,430 in
the prior year quarter.
The federal homebuyer tax credit continued
to influence reported price trends; however, the third quarter should be the last period to
see much impact from last years stimulated
price trends. The median sales price of a Long
Island property that sold in the third quarter was
$365,000, down 3.2% from $377,250 in the prior
year quarter and up 4.3% from $350,000 in the
prior quarter. Average sales price was $457,496
in the third quarter, 3.9% below $475,946 in
the prior year quarter, but increased 4.9% from
$436,143 in the prior quarter…