February home sales take same course as last year

A home that overlooks Manhasset Bay. (Photos courtesy of Laffey Real Estate)

Nassau County’s median price for sold homes in February remained on pace with the year-earlier results, but the number of pending sales last month jumped nearly 10 percent from January.

Multiple Listing Service Long Island’s real estate market report listed the median price for sold properties in February as $505,000, reflecting a zero percent difference from the same month last year.

Compared to January home prices, the median price of sold homes was 3.8 percent lower in February.

Pending sales count was an area that also saw no change when comparing last month to February 2018 with 966 homes soon to close.

According to the report, February’s pending home sales was the only area that increased from January, with almost 10 percent more pending sales recorded.

Sold property counts in February were 2.4 percent lower than in January with 764 sold homes. There were 783 homes sold in February 2018.

The number of sold properties in February marked a 17 percent drop from the month before which recorded 931 sold homes.

The median price for pending sales in February was $500,000, an increase of 0.1 percent from the same month a year earlier when the listed median price was $499,500.

February’s median price for pending sales has remained stagnant since January.

Prospective home buyers in Nassau County had a selection of 4,888 houses to choose from in February.

While Nassau County recorded similar figures for February on a year-to-year basis, neighboring Suffolk County had a 7 percent increase in the median price for sold homes from February 2018.

Suffolk’s median price for sold homes in February was $380,000 compared to year-earlier month, which recorded a median price of $355,000.

But the increase in price was met with a 3 percent drop in home sales in Suffolk with February’s sold home count at 976 compared to 1,005 last year.

The median price for sold homes across Long Island, which also includes statistics for Queens, was recorded as $455,500 in February. This reflects a 6 percent increase from February 2018 when the median price for sold homes was listed as $430,000.

There were 2,306 closed home sales on Long Island in February which marked a 4 percent drop from February 2018, when there were 2,404 sold homes.

The number of closed sales in February plummeted 17.5 percent from the month of January, when there were 2,795 homes sold.

Those who were moving onto or within Long Island had 15,588 homes to choose from in February, over 1,500 more options than they had at the same time last year.

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Jessica Parks

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