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Nassau records rising home prices in April

Jessica Parks
Housing sale prices in Nassau had their largest month-to-month improvement in May over the last calendar year, according to statistics from the Multiple Listing Service of Long Island. (Photo by Janelle Clausen)
Nassau home sales in April showed an increase over the same month the year prior. (Photo by Janelle Clausen)

The average home sale in Nassau County last month rose 3 percent to $505,000 from April 2018 when the average price was $490,000, according to a monthly housing report from Multiple Listing Service Long Island.

April’s median home sale price, though higher than last year, marked a nearly 2 percent drop from March when the median price of sold homes was listed as $515,000.

More specifically, the average price of sold single and multi-family homes last month was $520,000, which is an increase over April’s average from both April 2018 and 2017.

The average price of sold condominiums last month was $540,000 and for co-ops the median price was listed as $252,000.

The median price for pending home sales in April was $538,000,  up 3 percent from $522,000 in the same month last year.

Last month’s average represented a 2.4 percent rise from March when the average pending home sale was $525,000.

Some 896 homes were sold in Nassau County last month, exceeding the 858 homes sold last April by 4.4 percent.  The pace was stronger than in March when 885 homes were sold.

This continues the trend set over the past 24 months in which home sales have been lowest in the early months of the calendar year and then begin steadily increasing through the spring to their peak over the summer season.

April’s pending home sale count was the category that recorded the largest percentage gain over the prior year prior a nearly 6 percent jump from 1,271 pending sales in April 2018 to 1,371 last month.

Prospective Long Islanders had 17,546 homes to choose from last month, including Queens County, which Multiple Listing Service Long Island covers in its Long Island housing statistics.

Across the island, the average price of home sales last month was $455,000, a 3.4 percent increase over April 2018 when $440,000 was recorded as the average closed sale price.

Queens County recorded the highest average price for sold homes at $559,000 out of the three counties included in the statistics. Suffolk County’s closed home sale average of $380,000 was the lowest.

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