Median prices for single and multifamily homes, condos and co-ops in Nassau County in October were down slightly from September but all saw increases from the same time last year, according to data from the Multiple Listing Service of Long Island.
The median price for these properties in October was $500,000, down slightly from $510,000 in September. July of this year represented a peak for median prices over the past two years, topping out at $525,000.
Condos had the highest year-to-year growth. Their median price of $645,888 was up from $570,000 in October 2016 and $485,000 two years ago. Single and multifamily houses had a median price of $511,000, an increase from $480,000 last year, and co-ops had a modest increase from $221,250 in 2016 to $233,850.
The median price for pending sales for all property types was $486,500 in October, down $500 from September but an increase from $475,000 at the same time last year. The growth was almost entirely carried by single and multifamily houses, as condos and co-ops saw their median price for pending sales drop between last year and this year.
That is because for both sold property and pending sales, single and multifamily houses made up the vast majority of available properties. Condos and co-ops each had less than 100 sold in October, while 989 single and multifamily houses were sold. Sales of condos and co-ops were down slightly for the second straight year, but the difference was nine sales for condos and four for co-ops. The 989 figure for single and multifamily houses was an increase from 957 at the same time last year and 987 in 2015.
Overall, though, the total number of properties sold was 1,138, down from September but an increase from last year. In both 2016 and so far in 2017, August had the highest volume of properties sold.
The number of properties pending sale in October was 1,146, up from both September and the same time last year. The pending sales peak for the last two years was 1,401 in May of this year.
