Median price for Nassau homes in July over $129K more than July 2020

Median price for Nassau homes in July over $129K more than July 2020
Nassau County homes continued the streak of year-to-date increases for monthly median prices. (Photo courtesy of Coldwell Banker Residential Brokerage)

The median price of single-family and multifamily houses sold in Nassau County in July was over $129,000 higher than in July 2020, according to statistics provided by OneKey Multiple Listing Service.

According to the statistics, the median sales price for these homes in July was $694,125, an increase from $660,000  in June, and an increase from $565,000 from July 2020. The figure is also an increase from $555,000 in July 2019.

More than 1,200 such properties were sold in July, a major increase from 783 sold the same month last year, a figure most likely affected by COVID-19’s restrictions on open houses. In July 2019, 1,177 of the properties were sold in the county, according to the statistics. 

The median price of co-ops sold in the county increased to $275,500 in July from $260,000 last July, according to the statistics. The median price of condominium properties sold was $636,500, an increase from $588,750.

The three types of properties combined had a median sales price of $670,000 in July, an increase from $555,000 in July 2020, according to the statistics. 

On Long Island, the median price for all homes sold was $595,000, a roughly 21 percent increase from last year’s $490,556. Monthly closed sales activity on the island saw a sharp upswing to 4,071 properties in July from 2,546 in July 2020.

For July, Suffolk County residential properties had a median price of $540,000, an increase from $447,250 in 2019 for the same month.

The median sale price for a home on Long Island was $515,000 in 2020, an 8.4 percent increase from 2019, according to OneKey.

Nassau County reported an annual median home sale price of $575,000 in 2020, a 7.5 percent increase from $535,000 in 2019.

Nassau’s 2020 median home sale price was $130,000 higher than Suffolk County’s $445,000, but Suffolk had an 11.3 percent increase from its 2019 median sale price of $399,900. Queens County saw a 6 percent increase from 2019, with the median home price reported at $615,000 in 2020.

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