The Long Island second quarter sales tally was
the most in a decade, a recurring suburban
theme in the metro area. The number of
closed sales jumped 20.8% to 6,324 from
the same quarter last year. Signed contracts
surged 28.8% to 9,610 over the same period
suggesting heavy closing volume over the next
quarter. Listing inventory fell to its lowest level
for a second quarter in eleven years. There
were 15,992 listings available at the end of the
second quarter, down 6.3% from the year ago
quarter. As a result, the pace of the market was
at its fastest rate since 2005…