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Q1 2020 Long Island and Queens

Market Report


LONG ISLAND & QUEENS

Market Overview NASSAU – NORTH SHORE

434

-2%

$1,156,738

+4%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

NASSAU – SOUTH SHORE

1,676

0%

$548,771

+3%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

SUFFOLK – NORTH SHORE

1,315

+2%

$497,931

+2%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

SUFFOLK – SOUTH SHORE

1,215

-3%

$382,604

+10%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

1

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)


NORTH FORK

108

+24%

$646,928

-9%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

THE HAMPTONS & SHELTER ISLAND

234

-48%

$2,581,714

+88%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

QUEENS

700

+9%

$713,297

+3%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

2


CONDO/CO - OP

1,374

-10%

$376,914

+1%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

LUXURY ($1.5 Million and Above)

146

-3%

$2,274,934

+7%

Closed Sales

Change in Closed Sales

Average Sales Price

Change in Average

Q1 2020

(Q1 2020 vs. Q1 2019)

Q1 2020

Closed Price (Q1 2020 vs. Q1 2019)

3

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)


LONG ISLAND AND QUEENS

Overall Price Point Breakdown

Under $500K

$500K – $750K

$750K – $1M

$1M – $1.5M

$1.5M & ABOVE

Closed Sales

Average Days on Market

(2020 vs. 2019)

-8%

-6%

Q1 2020

3,980

72

Q1 2019

4,335

77

(2020 vs. 2019)

+16%

+5%

Q1 2020

1,883

87

Q1 2019

1,629

82

(2020 vs. 2019)

+8%

+1%

Q1 2020

656

95

Q1 2019

609

94

(2020 vs. 2019)

+15%

+7%

Q1 2020

193

123

Q1 2019

228

115

(2020 vs. 2019)

-3%

+12%

Q1 2020

146

159

Q1 2019

150

143


Average Days on Market Listing Price LONG ISLAND AND QUEENS

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

Average Days on Market

82

76

69

75

82

Selling Price vs. Asking Price

3%

2.2%

2%

2.7%

3.7%

Average Days on Market vs. Listing Discount * 4%

100

2%

80

0%

60

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

Average Days on Market 5

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

Listing Discount * Difference between last list price and sold price.


The Luxury Market $1.5 Million and Above CLOSED SALES, AVERAGE SALES PRICE & HIGHEST SALES PRICE Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

150

174

211

173

146

Average Sales Price

$2,143,827

$2,149,656

$2,126,458

$2,098,628

$2,274,934

Highest Sales Price

$5,050,000

$6,500,000

$9,035,000

$10,400,000

$7,700,000

Closed Sales

Average Sales Price vs. # of Closed Sales 250

$2,500,000

200 150 $2,250,000 100 50 $2,000,000

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

Closed Sales

Average Sales Price Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

6


LONG ISLAND & QUEENS

Neighborhood Highlights Nassau – North Shore

Closed Sales Average Sales Price Average Days on Market

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

444

562

757

565

434

$1,113,602

$1,075,196

$1,074,606

$1,081,201

$1,156,738

108

105

83

97

117

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

1,677

1,997

2,413

2,232

1,676

$533,861

$544,102

$561,767

$557,922

$548,771

76

71

64

74

81

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

1,294

1,669

2,093

1,775

1,315

$489,073

$491,531

$534,619

$500,702

$497,931

88

77

68

74

83

Nassau – South Shore

Closed Sales Average Sales Price Average Days on Market

Suffolk – North Shore

Closed Sales Average Sales Price Average Days on Market

7

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)


Suffolk – South Shore

Closed Sales Average Sales Price Average Days on Market

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

1,248

1,513

1,710

1,530

1,215

$347,320

$372,828

$391,287

$394,430

$382,604

75

66

62

63

70

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

87

139

145

127

108

$710,461

$675,481

$673,372

$696,189

$646,928

130

125

105

101

102

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

452

617

519

375

234

$1,373,786

$1,381,817

$1,386,524

$1,377,662

$2,581,714

North Fork

Closed Sales Average Sales Price Average Days on Market

The Hamptons & Shelter Island

Closed Sales Average Sales Price

* Average Days on Market not available. Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

8


LONG ISLAND & QUEENS

Neighborhood Highlights Queens

Closed Sales Average Sales Price Average Days on Market

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

641

697

820

834

700

$691,528

$699,583

$720,667

$729,188

$713,297

80

78

75

79

83

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

1,529

1,649

1,865

1,685

1,374

$373,494

$380,870

$382,645

$378,080

$376,914

81

78

73

74

78

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

148

151

113

137

161

$2,138,899

$2,152,066

$2,133,394

2,108,321

$2,313,659

148

151

113

137

161

Condo/Co-Op

Closed Sales Average Sales Price Average Days on Market

Luxury ($1.5 Million and Above)

Closed Sales Average Sales Price Average Days on Market

9

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)


Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

8


LONG ISLAND & QUEENS

Total Number of Sales by Area 2,500 2,000 1,500 1,000 500 0

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

Nassau – North Shore Suffolk – South Shore

Nassau – South Shore North Fork

Suffolk – North Shore

The Hamptons & Shelter Island

Average Sales Price by Area $3 M $2.5 M $2 M $1.5 M $1 M $500K 0

11

Q1

Q2

Q3

Q4

Q1

2019

2019

2019

2019

2020

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

Queens


Inventory LONG ISLAND AND QUEENS

Number of Closed Listings at Various Price Points 3,980

Under $500K

1,883

$500K – $750K

656

$750K – $1M

193

$1M – $1.5M

146

$1.5M & Above

6,858

TOTAL

Absorption Rate Active Listings (3/31/20)

Closings (Q1 2020)

Absorption Rate “Months of Supply”

Under $500K

4,559

3,980

3.4

$500K – $750K

3,424

1,883

5.5

$750K – $1M

1,855

656

8.5

$1M – $1.5M

1,140

193

17.7

$1.5M & ABOVE

1,103

146

22.7

Sources: MLS & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

12


O F F I C E S S T R AT E G I C A L LY L O C AT E D

Throughout Long Island & Queens

Corporate Office

Cutchogue

36 Main Street

28080 Main Road

Cold Spring Harbor, NY 11724

Cutchogue, NY 11935

631.423.1180

631.734.5439

Relocations & Referrals

Garden City

36 Main Street

102 Seventh Street

Cold Spring Harbor, NY 11724

Garden City, NY 11530

800.445.4460

516.248.6655

DGNY Commercial

Glen Head/Old Brookville

2110 Northern Blvd.

240 Glen Head Road

Manhasset, NY 11030

Glen Head, NY 11545

833.346.9266

516.674.2000

Astoria/Long Island City

Great Neck

35-37 36th Street, 2nd Floor

42B Middle Neck Road

Astoria, NY 11106

Great Neck, NY 11021

718.650.5855

516.466.4036

Bayside/Flushing

Greenport

35-16B Francis Lewis Blvd.

114 Main Street

Flushing, NY 11358-1954

Greenport, NY 11944

718.762.2268

631.477.0013

Carle Place/Westbury

Huntington

356 Westbury Avenue

187 Park Avenue

Carle Place, NY 11514

Huntington, NY 11743

516.334.3606

631.427.6600

Cold Spring Harbor

Locust Valley

5 Main Street

1 Buckram Road

Cold Spring Harbor, NY 11724

Locust Valley, NY 11560

631.692.6770

516.759.4800


Manhasset

Shelter Island

364 Plandome Road

11 Grand Avenue

Manhasset, NY 11030

Shelter Island Heights, NY 11965

516.627.4440

631.749.1155

Mattituck

Smithtown

10095 Main Road

81 Route 111

Mattituck, NY 11952

Smithtown, NY 11787

631.298.0300

631.584.6600

Mattituck Love Lane

Stony Brook/Port Jefferson

70 Love Lane, PO Box 1710

1067 Route 25A

Mattituck, NY 11952

Stony Brook, NY 11777

631.298.4130

631.689.6980

Northport

Syosset/Muttontown

77 Main Street

7951 Jericho Turnpike

Northport, NY 11768

Woodbury, NY 11797

631.754.3400

516.677.0030

Port Washington

Westhampton Beach

350 Main Street

100 Main Street

Port Washington, NY 11050

Westhampton Beach, NY 11978

516.883.2900

631.288.1050

Rockville Centre

Wheatley Plaza

36 S. Park Avenue

342 Wheatley Plaza

Rockville Centre, NY 11570

Greenvale, NY 11548

516.678.1510

516.626.7600

Sea Cliff 266 Sea Cliff Avenue Sea Cliff, NY 11579 516.759.6822


danielgale.com Each office is independently owned and operated. We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

Data Sources: MLS (01/01/2019 – 03/31/2020) & The Real Estate Report Inc (01/01/2019 – 03/31/2020)

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Q1 2020 Long Island and Queens Market Report  

Q1 2020 Long Island and Queens Market Report