Current Housing Market Stats for the Town of Huntington
Inventory numbers are about the same between September, 2008 and 2007. The Median Listing Price is exactlythe same. And it is a positive sign that the months’ supply of inventory is down for 2008 (the number of months it would take to sell all the houses currently on the
The number of homes that entered Under Contract is higher in Sept. 08 than 07 and the Median Contract Price (the listing price at the time of contract) is lower in Sept. 08 than Sept. 07. The number of houses which Closed in September (some entered into contract months earlier) is higher in Sept. 08 but the Median Selling Price is considerably lower in Sept. 08 than in Sept. 07.
The percentage reduced between the CV to IV –
Contract Value (Median Listing Price at time of contract) to
Inventory Value (Median Listing Price of Available Listings). The ratios are higher in Sept. 2008 for both the Median Original Listing Price to the Median Selling Price and the spread between the Median Listing Price (Available Listings) and the Selling Price of Closed Listings. The Closed Median Price reflects a huge range of selling prices from a high of $3,625,000 to a low of $140,000.
A comparison of the 2008 YTD (January to September) Summary with the 2007 stats shows a common pattern. There is a large range between the number of Available Listings and the number of houses that are Under Contract. Only 1 in 4 to 5 homes sell.
Comparison of 2008 and 2007 3rd Quarter Housing Stats for Town of Huntington. Data from Long Island Multiple Listing Service, compiled by Cheryl Grossman