- New Developments
The Long Island housing market enjoyed higher sales activity in the third quarter with a jump in signed contracts. As a result of increased sales, listing inventory fell to its lowest level in nearly seven years. Housing prices continued to remain stable, as did the amount of time required to sell a property. Mortgage rates fell to new record lows, driving new buyers into the market. With market activity gaining momentum, we anticipate more seasonal improvement in the coming quarters.
Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.
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