Median Prices in Queens and Nassau were dropped in double digits comparing to last year, but Suffolk remain the same:

................ Dec 2008 .... Dec 2007

Queens ... $383,000 ... $441,000 (-13.15%)

Nassau ... $370,000 ... $447,500 (-17.32%)

Suffolk ... $385,000 ... $385,000 (no change)

There are less inventory in total. Transactions in Queens increased comparing to Dec 07 and Nov 08:

..................... Inventory ...................... Units in contract ............. Months Supply

................ 12/08 ..... 12/07 ........ 12/08 .... 11/08 ...... 12/07

Queens ..... 9822 ..... 10053 .......... 497 ........ 437 ......... 455 ............. 19.8

Nassau ..... 8592 ....... 8376 .......... 554 ........ 576 ......... 604 ............. 15.5

Suffolk .... 12138 ..... 12425 .......... 661 ........ 658 ......... 620 .............. 18.4

Source: Long Island Board of Realtors