‘In the final quarter of 2012, Long Island inventory fell to its lowest level in seven years. The market continued to gain momentum towards the end of the year, evidenced by the fact that there was a larger increase in signed contracts than in closed sales this quarter. In fact, Long Island finished 2012 with more sales than in 2011, the first year-over-year increase since 2006 and a clear sign that the market has finally turned the corner. We are excited about the improving conditions and expect to see an even better market in 2013.’    elliman.com  reports