Home sales prices stay flat in Nassau

Home sales prices stay flat in Nassau

Home prices saw a very minor uptick in Nassau County last month, increasing from $517,000 in May to $519,500 in June, according to statistics from the Multiple Listing Sevice of Long Island.

The increase was larger for year-to-year, as the June median price for homes sold was up from an even $500,000 in June 2017 or a 3.9 percent increase.

June had the highest median sales price of any month in 2018 and is the highest median of any month in the last two years, save July 2017’s median of $520,000.

This came in spite of a big increase in the number of units sold.

Some 1,262 homes were sold in June, the most since August of last year.

The increase from May — when 979 units were sold — was the largest month-to-month jump in almost a year. But it still represented a decline from the 1,320 units sold in June 2017, down 4.4 percent.

In the 12 months, nine months have seen a decrease in the number of homes sold from a year ago.

The median price for pending sales, on the other hand, dropped slightly from May.

June had a median of $525,000 for pending sales, down $10,000 from a month ago but up from $511,000 in June 2017. June’s median pending price is nonetheless the second highest for any month of the past two years.

The number of units on the market also dropped in June, down to 1,348 from 1,405 in May. That was also down 1,383 units pending sale in June 2017. In each of the last two years, pending sales in Nassau County peaked in May.

In neighboring Suffolk County, median sale prices continued their steady climb. The median for June was $376,000, up from $367,000 in May and the third straight month in which the median price increased.

The number of units sold was also up from the month before, to 1,587. Although the median price increased by 4.1 percent from June 2017, the number of units sold was down from the year before.

The median price for pending sales slumped to $385,000 in last month, down $4,000 from May’s median — although this was still an increase from $370,000 in June 2017. The number of units pending sale was 1,687, down from 1,874 in May and 1,765 from June 2017.

Reach reporter Luke Torrance by email at [email protected], by phone at 516-307-1045, ext. 214, or follow him on Twitter @LukeATorrance.

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