Support
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)
Published on May 21, 2020