Quiz: How well do you know Long Island real estate?
You think you know the housing market? Take the quiz below, based on monthly and annual statistics released last week from the Multiple Listing Service of Long Island, which also covers Queens:
1. Which county had the biggest percentage drop in December median closing prices when compared to December 2006?
a. Nassau
b. Suffolk
c. Queens
2. The answer is $5.9 billion. What's the question?
a. What is the total of listing prices of high-end properties that remain unsold from last year?
b. How much in properties were sold in Nassau?
c. What's the difference between how much was sold on Long Island last year and in 2006?
3. Last year, Suffolk had the most listings, followed by Queens, then Nassau. But which counties had the most closings? Rank them:
a. Queens first, Suffolk second, Nassau third
b. Suffolk first, Nassau second, Queens third
c. Suffolk first, Queens second, Nassau third
4. Nassau often has the highest median closing price each month, as it did in December. What was it?
a. $425,000
b. $447,500
c. $550,200
5. Which county had the highest median closing price in December 2006?
a. Queens
b. Nassau
c. Suffolk
Answers:
1. C: Queens at 8 percent drop. Nassau dropped 5 percent and Suffolk 3 percent.
2. B: Nassau lead in total closing amounts, followed by Suffolk's $5.1 billion and Queens' $3.7 billion.
3. B: Suffolk 10,881 closings out 45,652 listings; Nassau 9,896 closings out of 35,923 listings; Queens 7,612 closings out of 40,784 listings
4. B: Queens' median closing price was $441,000 and Suffolk's was $385,000.
5. A: Queens' median closing was $477,500, followed by Nassau at $470,000, then Suffolk at $398,600.
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