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Elliman Report: Long Island Sales 2Q 2016

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…

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