Housing prices flat in Nassau

Housing prices flat in Nassau
A four-bedroom home at 31 Elm Sea Lane in Plandome Manor (Photo courtesy of Daniel Gale Sotheby's International Realty)

Housing prices in Nassau County stayed flat from September to October, according to data from the Multiple Listing Service of Long Island.

The median price for sold residential properties in the county was $525,000 in October, the same was the month before. But holding steady was good enough for a 5.2 percent increase over median prices in October 2017, which had dropped to just under half a million dollars.

The median price for pending sales did see a slight bump, climbing up to $515,000 from $505,000 in September. That was good for a modest 3.8 percent or $19,000 increase from October of last year.

According to data from the past two years, the prices of houses sold and pending sale typically bottom out in the winter months and peak around late spring/early summer.

Although the median price stayed the same, the number of homes sold in October increased from 1,015 to 1,155 from the month before, although that was down slightly from 1,186 in October 2017.

The number of houses on the market shot up from 964 in September to 1,227 in October. That was also good for an 11 percent increase over October 2017, the largest year-to-year jump of any month in the last calendar year.

The number of pending sales tend to bottom out around the end of the year, with January having the lowest total of any month in the last year.

In neighboring Suffolk County, the median price for homes sold continued to climb in October after a dip in September, reaching $369,360, which was good for a $30,000 or 8.2 percent increase over October 2017. Pending sales, however, dropped from $385,000 to $375,000 between September and October.

The number of homes sold in Suffolk was 1,595 in October, up from 1,450 in September and 1,495 in October 2017. Also up was the number of pending sales: 1,598 in October, recovering from a dip in September and up 7.9 percent from a year ago.

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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