County home sale prices up, pending sale prices down in December

0
588
A four-bedroom home at 31 Elm Sea Lane in Plandome Manor (Photo courtesy of Daniel Gale Sotheby's International Realty)

The median sale price for Nassau County homes in December was up from the month before but pending sale prices were down, according to data from the Multiple Listing Service of Long Island.

The median sale price was $499,000 in December, a $9,400 increase from the preceding month. It was also $30,000 more than the median price in December 2016.

Prices of residential single and multi-family homes have risen over the past three years, according to the report.

And while the median pending sales price went from $515,000 in November to $489,889 in December — the largest month-to-month drop in 2017 — it was still higher than the $480,000 of December 2016.

The increase in the sales price could be due in part to less housing on the market. While the number of properties sold in December was 1,027, up very slightly from 1,017 the month before, it was almost 100 fewer than were sold in December 2016. That 8.6 percent drop from a year ago was the largest for any month in 2017.

Pending sales in Nassau in December were down to 854, the lowest in at least three years and down significantly from 1,009 in November. But it was only a slight decrease from December 2016, as December and January tend to have the lowest number of pending sales over the course of a year.

Despite slipping in some areas, Nassau remains far ahead of neighboring Suffolk County  when it comes to prices. Suffolk’s median sale price and pending sale price were $359,000 and $349,000 in December, respectively, although 1,183 properties were sold and 1,060 were pending sale.

LEAVE A REPLY

Please enter your comment!
Please enter your name here