Nassau housing prices stay hot in July

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(Photo courtesy of Roslyn Landing)

Housing prices for Nassau County continued to climb in July, hitting their highest amount in at least two years.

The median price for houses sold in the county was $540,000 last month, up from $519,000 the month before and $520,000 in July 2017, according to the Multiple Listing Service of Long Island.

Residential, condo, and co-op properties all saw increases over their median sales price from a year ago.

The $520,000 median sale price from July 2017 was the peak price for that year. Median sales prices have continued to trend upward for Nassau over the past two years.

The number of properties sold in the county last month was 1,245, down slightly from last month (1,284) and from a year ago (1,251). The number of sold properties has peaked in August each of the past two years.

Also rising, although not as quickly, was the median price for the county’s pending sales. In July it was $530,000 for Nassau, an increase of $5,000 from May and up $20,000 from July 2017.

The median price for pending sales hit $536,625 in May, the highest point reached in the last two years.

That same month was the high point for the number of pending sales in 2018 with 1,412. The amount of homes pending sale has dropped steadily over the last two months to 1,351 in June and 1,214 in July.

The most recent month’s total is nonetheless an increase over July 2017, when 1,185 homes were pending sale.

The number of homes pending sale have peaked in May each of the last two years.

Nassau continues to outpace its eastern neighbor, although Suffolk County’s housing prices are also on the rise. The median price for sold property in the county hit $390,000 in July, besting June’s $375,000 as the highest mark in the last two years.

The number of houses sold decreased slightly from June, down to 1,551 in July — which was two fewer than July 2017.

The median price for pending sales was down slightly from the two-year peak of $389,000 in June to $388,000 in July. It was an improvement of $23,000 over a year ago.

The number of pending sales also dropped from the month before from 1,697 to 1,620.

Reach reporter Luke Torrance by email at ltorrance@theislandnow.com, by phone at 516-307-1045, ext. 214, or follow him on Twitter @LukeATorrance.

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