Housing report shows rise in home sales prices in Nassau

Nassau County reported a $540,000 closed median home price in Sept. for homes sold representing a less than 2.9 percent increase from $525,000 reported in Sept. 2018, according to a Long Island housing data report by the Multiple Listing Service of Long Island. (Photo courtesy of the Multiple Listing Service of Long Island)

The median sales price for Nassau County homes reached $540,000 in September, a rise of about 2.9 percent from the same month last year, according to the Multiple Listing Service of Long Island.

The median price, however, decreased from $551,000 in August, the MLSLI said in a report. In September 2018 it was $525,000.

“Long Island housing activity remains strong in terms of home prices and activity with positive year over year gains in the areas of closed median home prices and the number of monthly transactional sales reported to MLSLI,” MLSLI spokeswoman Tricia Chirco said.

The median pending sales price in Nassau also saw an increase from last year, standing at $530,000, or a 2.9 percent increase from $515,000 in September 2018, according to the report. Pending sales in Nassau saw a decrease from the previous month, when the price was $532,500.

The median price for homes on Long Island rose to $495,000, representing a 1.02 percent increase from August’s $490,000 and a 7.61 percent increase from $460,000 in September 2018. The group counts Nassau, Suffolk and Queens counties in the Long Island data.

“Nassau County continues to be a desirable place to live because of its proximity to New York City and quality of life that it offers residents,” Chirco said. “It remains a practical option for commuters, especially in light of what’s been happening in the Queens and Brooklyn real estate market.”

The number of available residential listings in Nassau, Suffolk and Queens is 18,568, which represents a 5 percent increase from last year, according to the report.

“With low mortgage rates and high consumer confidence, the outlook for the housing market is good. If strong economic conditions continue as expected, buyers will continue to feel optimistic about buying a home,” Chirco said.


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Tom McCarthy

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