Home prices in Nassau up 2 percent

Home prices in Nassau up 2 percent

Home prices in Nassau County rose 2 percent in February, but the number of properties sold dropped 7.4 percent from last year’s mark, according to the Multiple Listing Service of Long Island.

The median price of sold properties in Nassau was $450,000, up $10,000 from last February’s figure, but down $25,000 from last month.

The increase from 2016 to 2017 follows a 15-month upward trend but the monthly decrease is the largest since August.

The rise was seen mainly in residential single/multi family homes, which jumped from $450,000 to $466,500, while both condominiums and co-ops dropped.

In February, condos fell to $525,000 from last year’s $550,00 and co-ops dropped from $210,000 to $198,000.

The 7.4 percent drop in properties sold was seen in residential single/multi family properties, which dropped from 711 to 659, and co-ops, which fell from 88 to 76. Condominiums rose from 53 to 54.

The median price of properties pending sale rose 5.1 percent from $442,500 in February 2016 to $465,000.

Condominium pending sale prices saw a significant jump, rising from $553,500 to $615,500, while both co-ops and residential single/multi family properties increased slightly.

Despite the fall in the sale count, the count for homes pending sale rose 3.3 percent, increasing from 890 to 919.

There was also a large jump from last January in the count of pending sales from 757 to 919.

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